The Hindu Business Line : Elite panel of insurance surveyors proposed

An elite panel of insurance surveyors should be created to drive important changes in the profession for betterment of the insurance industry, according to the committee of surveyors and loss assessors set up by Insurance Regulatory and Development Authority (IRDA).

The committee, which submitted its report to the regulator, also recommended that a surveyor and loss assessor shall be categorised on the basis of professional qualifications, training undergone, experience and any other criteria as may be specified by the authority from time to time. The categorisation should consist of allocation of one or more specified departments of the insurance business. The committee also suggested a point system to the IRDA for reviewing the categorisation.

The points, which were to be awarded separately for each year of performance, should be aggregated once in five years for the purpose of final reckoning, the report said.

Regarding the renewal of licences of those not holding categorisation, the committee was of the view that renewal of their licences would hold no purpose and that such licences should be allotted to the ‘C’ category (the others being A and B).

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