Page 113 - Insurance Surveyors Book Ebook IC S01

Survey And Loss Assessment IC-S01

(a) an Officer of the Authority;

(b) two representatives of the Surveyors and Loss Assessors;

(c) a representative of Insurers from Public sector and a representative of insurers

from Private sector

(d) a representative of the policy holders;

(3) The Committee will have tenure of three years and will be presided over by the

officer of the Authority.

Appointment of Surveyors and Loss Assessors

(1) No person or a firm or a company shall act as a Surveyor and Loss Assessor

without being licensed under Regulation 3 or Regulation 4, as the case may be.

(2) Surveyors and Loss Assessors shall be appointed either by insurers or insured to

assess loss under a policy of insurance in respect of

(a) Motor insurance – above Rupees fifty thousand

(b) Other than motor insurance – above Rupees one lakh

(3) The above mentioned limit shall be reviewed every three years by the Authority.

(4) Such appointment of a surveyor for assessment of loss shall be made within 72

hours from the time the occurrence of loss was known to the insurer or insured, as

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