Surveyors or loss assessors are independent professionals appointed by insurance company to assess the loss or damage, when a claim is notified under a policy issued by them. An insurance surveyor must be duly licensed by the Insurance Regulatory and Development Authority (IRDA). Licenses must be issued to people who are qualified in insurance subjects and are Fellows or Associates of the Insurance Institutes of India or Chartered Insurance Institute of London or possess any other technical qualification as prescribed for the purpose by IRDA. A surveyor or loss assessor, after obtaining the license, may be empanelled by any or all insurance companies in India.
An insurance company selects a surveyor who is qualified to undertake the assessment of loss or damage in relation to the policy issued and also depending on the estimated loss involved. He has to inspect, survey and assess the loss, and submit his report to insurance company, giving his technical opinion on the cause of loss, compliance of conditions and warranties (by the insured), position of salvage and loss minimization measures taken by the insured etc.
Though the surveyor is appointed by the insurance companies, he is required to be impartial and objective in his assessment, favoring neither the insurers nor the insured who are the two parties to the contract under a policy, which necessitates a high degree of professionalism. |
