Surveyors agitate against malpractices of IRDA
New Delhi | Wednesday, Nov 4 2009 IST
 

Hundreds of surveyors under the Indian Institute of Insurance Surveyors And Loss Asscessors (North Zone) today staged a demonstration here, denouncing the alleged malpractices of the Insurance Regulatory And Development Authority(IRDA).

IIISLA chairman J C Joshi told UNI that in memorandum addressed to UPA chairperson Sonia Gandhi, they have mentioned the plight of insurance surveyors' professional vis-a-vis Insurance Act, 1938 under consideration for amendment and proposal by IRDA. He said section 64(um) of the Insurance Act permits an insurance to pass a claim of up to Rs 20,000 without report from a surveyor.

This was a relaxation to the insurance as surveyors as stipulated in the act were still to be developed.

Now that the concept of independent surveyor is fully developed in the country, there is no need for such a relaxation and the spirit of the act that an independent third person should interpret the contract between the insured and the insurance company, should prevail.

He said most of the private insurance have their own employees who survey and assess losses even for more than Rs 20,000 and are violating the act. Sufficient proof had been given to IRDA but it was having a soft spot for private insurance and had not taken any action, Mr Joshi alleged.

IIISLA chairman said now IRDA is planning to increase the above limit of Rs 20,000 to Rs 1 lakh to help private insurance.

This would finish junior surveyors from grassroots level and after a few years, the entire profession would come to an end.

This would also finish IIISLA promoted by IRDA at the instance of the Government of India.

-- (UNI) -- 04DI88.xml

 

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