Ref: IRDAI/NL/CIR/MISC/042/03/2018 6th
All Corporate Surveyors
and Loss Assessors
Re: Closure/Dissolution of
As per IRDAI (Insurance
Surveyors and Loss Assessors) Regulations, 2015(hereinafter referred as
Surveyors Regulations) vide regulation 4(6)(2), directors/partners of a
corporate surveyor are required to submit material changes about the corporate
entity to the Authority within 15 days of such change. It is further prescribed
that original license issued by the Authority to the corporate surveyor is
required to be surrendered for grant of modified license.
Regulation 13(b) specifies
that it is one of the duties and responsibilities of a surveyor and loss
assessor to bring to the notice of the Authority, any change in the information
or particulars furnished at the time of issuance of license, that has a bearing
on the license granted by the Authority, within a period of not exceeding
fifteen days from the date of occurrence of such changes.
It has come to the notice
of Authority that directors and partners of corporate surveyors are not
complying with the above and start taking up individual work without intimating
the Authority about their resignation from the corporate entity or
closure/dissolution of the corporate surveyor.
In this regard, attention
is drawn to Regulation 4(6)(1) which requires submission of declaration from
licensed surveyors and loss assessors who intends to join a corporate surveyor
as directors or partners that they will not take up individual survey work in
individual capacity upon grant of corporate surveyor license.
Authority hereby advises
all corporate surveyors to strictly comply with the above regulatory
stipulations in letter and spirit. Further, in respect of closure/dissolution
of corporate entity, it is mandatory to surrender original license issued along
1. Application for surrender
of corporate surveyor license duly signed by all directors/partners.
2. Affidavit stating that no
survey work is pending with the company/firm and that pending jobs shall be
returned to the insurer or insured before applying for surrender of corporate
3. Original corporate
surveyor license issued by the Authority
4. Certified copy of closure/dissolution
of corporate surveyor
5. Copies of Form-12 of corporate
surveyors and respective directors/partners.
6. Copy of licenses of
Licensed surveyors who are
directors and partners in corporate entities are hereby cautioned not to take
up individual work without modifying /surrendering the corporate surveyor
license as prescribed above and that such act shall be deemed as violation of
code of conduct prescribed by the Authority invoking regulatory action under
Regulation 23 and 24 of IRDAI Surveyors Regulations.
Member (Non Life)