OUTSOURCING OF SURVEY WORK

Actions proposed to be taken by IRDA in the Exposure Draft for Insurance Surveyors

(a) Outsourcing of survey work is prohibited, being a core activity as per Outsourcing Guidelines issued by IRDA and it has not to be resorted by any direct or indirect means either by the insurer or by the licensed surveyor and loss assessor himself.

The objectives of the Exposure Draft is to

To revamp the Indian Institute of Surveyors and Loss Assessors (IIISLA) to make it more vibrant, responsible and professional in line with the intentions and objectives for which it was incorporated u/s 25 of the Companies Act vide registration number 47675 of 2005-06 at Hyderabad, Andhra Pradesh.