Personal Finance

Insurance Uncovered

| Updated on February 24, 2019 Published on February 24, 2019

The following are the frequently asked question on surveyors and loss assessors from IRDAI:

Who are surveyors and loss assessors?

IRDAI regulations mandate appointment of surveyors and loss assessors by the insurance company to assess the loss under the motor insurance policy. The insurance regulator is authorised to provide licence to eligible persons to act as surveyors and loss assessors (SLA). It specifies the eligibility criteria for granting licence to applicants. The regulations also specify the duties, responsibilities and code of conduct for SLA. Licences are issued to both individuals and firms/companies to act as SLA. There are eight areas in which surveyors could be licensed to work — fire, motor, miscellaneous, engineering, marine cargo and hull, loss of profit and crop insurance. IRDAI is empowered to cancel the licence of SLA as well.

What is the need to engage an insurance surveyor?

It is for assessing the loss or damage suffered without any bias by a professional or expert in the field.

What will happen if I am not in a position to furnish the details required by the surveyor?

If you are unable to furnish all the particulars required by the surveyor for assessment of the damage/loss, there will be delay in assessment of the claim.

Can the surveyor delay the submission of his report beyond 30 days?

In exceptional circumstances, there could be a delay in submission of survey report by a surveyor, beyond 30 days from the date of his appointment, in which case he has to necessarily seek extension of time from the insurer. However, in no case can the time limit for submission of report exceed six months from the date of his appointment

Is the loss amount assessed by surveyor binding on insurer?

No. The insurer has the right to pay or settle any claim at any amount different from the amount assessed by the appointed surveyor.

What is the time limit for the insurer to take a decision on the claim, after submission of surveyor report or additional survey report by the surveyor and loss assessor?

An insurer has to take a decision on the claim within 30 days of receipt of surveyor report. The insurer must either offer a settlement of claim or give reasons for rejection in writing.

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.


  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.


  • Ad free experience

    Experience cleaner site with zero ads and faster load times.


  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor