YP Bharat committee to analyze norms for insurance surveyors

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Insurance Regulatory and Development Authority of India (IRDAI) constituted a 7 member working committee for norms regarding insurance surveyors. It will will headed by Yegna Priya Bharat, Chief General Manager (Nonlife), IRDAI.

Main Functions :

  • Areas pertaining to licensing, renewal and others as per the existing regulatory framework for Surveyors and Loss Assessors.
  • Analysis of the existing regulatory framework as per requirements of the industry.
  • Study the Memorandum of Association and Articles of Association of the Indian Institute of Insurance Surveyors and Loss Assessors (IISLA).
  • Make recommendations to bring about clarity and alignment with the Surveyor Regulations.
  • Issues related to the membership of IIISLA.

It will submit its report with recommendations within six weeks.

The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.  It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India.The agency’s headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.