Every Insurance Broker applicant must conform to the regulations set by the IRDAI while preparing the documentation for license registration.
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An Insurance Surveyor and Loss Assessor is an insurance-related service provider primarily associated with the Insurers/Reinsurers. At the time of insurance maturity, if insurance claims go beyond the defined limit of the said insurance policy. The Insurer appoints and sends an Insurance Surveyor to determine the reported damage and check the legitimacy of the made claims.
An Insurance Surveyor assesses whether the insurance claim is legitimate or not. In India, the Insurance Regulatory and Development Authority of India (IRDAI) requires you to obtain an Insurance Surveyor license to act as a Surveyor and Loss Assessor.
The Insurance Surveyor registration is the authorization given by the IRDAI to individuals and corporate entities. Hence, we can classify Surveyors into two types of registration:
No person or Company can act as a licensed Surveyor and Loss Assessor without getting a required license per the IRDAI regulations. Surveyors are appointed by Insurers or Insured to assess the loss as per the Insurance Policy in respect of the following:
The limit mentioned above is reviewed every three years by the IRDAI.
Every Insurance Broker applicant must conform to the regulations set by the IRDAI while preparing the documentation for license registration.
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