An Insurance Surveyor & Loss Assessor is a service provider associated with a registered Insurance Company. At the time of maturity of Insurance claims, if claims go beyond the defined limit of insurance cover amount, the insurance company can then appoint and send a Surveyor and Loss Assessor to determine the damage and check the authenticity of the made damage claims. Simply put, a Surveyor and Loss Assessor assesses whether or not a made claim is legitimate or not.
The IRDA License for Insurance Surveyors is required to become a licensed Surveyor and Loss Assessor in the Insurance market. Therefore, the Insurance Surveyors and Loss Assessor certificate is the authorization given by the IRDA to companies or individual entities to become an Insurane Surveyor.
Every Surveyor Registration applicant can register in one of the two types of Insurance Surveyors in the Insurance Market. In India, the IRDA registers two kinds of Insurance Surveyors and Loss Assessor, they are:
Every Surveyor in Insurance applicant must ensure the following criteria before applying for the license registration:
Qualification
Every applicant for Surveyor and Loss Assessor must be qualified depending on the insurance claims they are hired to handle. Also, the Surveyor must be a Member of Institute of one of the following institutes:
They must also possess the following specific qualifications that make them eligible to apply for Surveyor and Loss Assessor:
Examination
The Surveyor applicant must clear the relevant papers of the Insurance Surveyor and Loss Assessor. The Insurance Institute of India conducts the Surveyor Exams.
Training
They must also undergo the required Surveyors and Loss Assessor training as specified by IRDA from time to time.
Business Registration
Every corporate surveyor applicant must have the necessary Certificate of Incorporation to establish itself as a licensed business entity. Either the applicant must be a Company incorporated under the Companies Act of 2013 or an LLP incorporated under the Limited Liability Partnership Act.
We have detailed the procedure for registering the Surveyor and Loss Assessor with the IRDA in the following points:
The applicant must submit the following documents along with the Surveyor and Loss Assessor license registration application:
If you want to get assistance in filing your registration application for the Surveyor and Loss Assessor License, then you can connect with our Insurance Experts at Registrationwala.