Page 110 - Ebook IC S01

Survey And Loss Assessment IC-S01

Application for, and matters relating to, grant of license to individual Surveyors and

Loss Assessors

Every person who is a Student Member of the Institute and intending to act as a

Surveyor and Loss Assessor in respect of general insurance business shall apply to the

Authority for grant of License in FORM–IRDAI-1-AF as given in Schedule II to these

Regulations.

Grant of license:- The Authority on being satisfied that the applicant is eligible for

grant of license,

shall grant the same in FORM-IRDAI-2-LF as given in the Schedule II to these

Regulations, mentioning the level of membership granted by the Institute, particular

class/ department or subject of general insurance business namely, fire, marine

cargo, marine hull, engineering, motor,miscellaneous, crop insurance and loss of

profit.

Validity of License:- The license granted shall be valid for a period of three years.

A Surveyor and Loss Assessor, whose license has been cancelled or suspended for

any reason, may submit an application for issuance of license, after the expiry of one

year from the date of such cancellation or suspension, and such application shall be

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