The following is the gist of formalities to be complied with in this regard:

Application

The Authority shall, before granting licence, take into consideration all matters relating to the duties, responsibilities and functions of surveyor and loss assessor and satisfy itself that the applicant is a fit and proper person to be granted a licence. In particular and without prejudice to the foregoing, the Authority shall satisfy itself that the applicant, in addition to submitting the application complete in all respects:-

1. satisfies all the applicable requirements of section 64UM read with section 42D of the Act and rule 56A of the Insurance Rules, 1939;
2. possesses such additional technical qualifications as may be specified by the Authority from time to time;
3. has furnished evidence of payment of fees for grant of licence, depending upon the categorisation;
4. has undergone a period of practical training, not exceeding 12 months, as contained in Chapter VII of these regulations; and
5. furnishes such additional information as may be required by the Authority from time to time.

Categorisation

A Surveyor or Loss Assessor is subject to categorization (Categories A, B and C) based on the following criterion:

1. professional qualifications;
2. training undergone;
3. experience as a surveyor and loss assessor and any other relevant professional experience;
4. any other criteria, as may be specified by the Authority from time to time.

Fee Structure

PRACTICAL TRAINING

1. An applicant seeking a licence to act as a surveyor and loss assessor shall undergo a period of practical training of not less than twelve months with a surveyor and loss assessor as specified below;

2. The surveyor under whom an applicant will be trained shall belong to category A or category B as classified by the Authority while granting a licence;

3. The trainee shall maintain a record of training received during the period and shall get it certified by the surveyor and loss assessor under whom he has trained and the certificate shall be attached to the application for seeking grant of a licence under regulation 3;

4. The licence to be granted to an applicant to act as a surveyor and loss assessor shall be in that particular area for which he has been trained;

5. If a surveyor and loss assessor already licensed by the Authority seeks to obtain a similar licence for acting as a surveyor in a category other than for which he is licensed, he shall undergo a period of training not less than six months under a surveyor and loss assessor holding either Category A or Category B licence issued by the Authority to act in that particular area.

[The members of the Institute who register themselves as trainees for obtaining licence to act as Surveyor and Loss assessor be permitted to undergo training. However, the period spent by them for undergoing the training should not affect their main occupation for the purpose of training articled clerks.

(Decision taken at 253rd Meeting of the Council held on 28th, 29th and 30th August, 2005 in the office of the Institute at New Delhi)]

Section 64UM(1)(D) of the Insurance Act 1938 prescribes the Chartered Accountancy qualification as one of the qualifications, which may be possessed by an applicant for the issuance of licence to act as a surveyor and loss assessor.

According to Section 64UM (1)(D) of the Insurance Act, 1938 (For complete provisions of Section 64UM of the Insurance Act, 1938 on Licensing of surveyors and loss assessors please refer Insurance Act, 1938):

“No licence to act as a surveyor or loss assessor shall be issued unless

1. the applicant, where he is an individual, satisfies the Authority that he –
   1. has been in practice as a surveyor or loss assessor on the date of commencement of the Insurance Regulatory and Development Authority Act, 1999 or
   2. holds a degree of a recognised University in any branch of engineering, or
   3. is a fellow or associate member of the Institute of Chartered Accountants of India or the Institute of cost and Works Accountants of India, or
   4. Possesses actuarial qualifications or holds a degree or diploma of any recognized University or institute in relation to insurance, or
   5. holds a diploma in insurance granted or recognised by the Government, or
   6. possesses such other technical qualifications as may be specified by the regulations made by the Authority, and
   7. does not suffer from any of the disqualifications mentioned in sub section (4) of Section 42;
2. the applicant, where he is a company or firm, satisfies the Authority that all his directors or partners, as the case may be, possess one or more of the qualifications specified in Clause (i) and none of such directors or partners suffer from any of the disqualifications mentioned in sub section (4) of Section 42.”

(The Complete detail on Surveyor and Loss Assessor is available at http://www.irdaindia.org)