Page 121 - Insurance Surveyors Book Ebook IC S01

Survey And Loss Assessment IC-S01

Submission of returns by Surveyor and Loss Assessor -

Every licensed Surveyor and Loss Assessor shall:-

(1) furnish such document, statement, account, return or report, as and when

required by the Authority, and comply with such directions, as may be issued by the

Authority in this behalf, from time to time; and

(2) submit an annual statement in FORM-IRDAI-12 given in the Schedule-II to these

Regulations.

(3) Every corporate Surveyor and Loss Assessor shall submit a copy of Audit Report

and Annual Statement of Accounts by 30th September every year.

Procedure for suspension and cancellation of license:

(1) Subject to Regulation 24(1), a licensed Surveyor and Loss Assessor whose license

is proposed to be suspended or cancelled by the Authority may be granted an

opportunity of hearing before suspending or cancelling the license.

(2) Upon receipt of the order of suspension, the suspended Surveyor and Loss

Assessor may file a representation before the Authority for revocation of suspension.

The Authority may designate an officer who, upon considering the representation,

shall pass such an order or orders as he/she deems fit which shall be communicated

to the suspended Surveyor and Loss Assessor.

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