The Hindu Business Line : IRDA sets up institute of surveyors, assessors

FOLLOWING the Bhandari Committee recommendations, the Ministry of Finance has directed the Insurance Regulatory and Development Authority (IRDA) to promote an institute for surveyors and loss assessors on the model of the Institutes of Company Secretaries and Chartered Accountants.

According to the IRDA Executive Director, Mr P.C. James, the institute would be considered for conferment of a chartered status from three years of its establishment.

In furtherance of the Ministry's advice, the IRDA has got the `Indian Institute of Insurance Surveyors and Loss Assessors' incorporated under Section 25 of the Companies Act, 1956, with its registered office in Hyderabad.

According to Mr James, the main objectives of the institute are promotion of quality in the profession of surveyors and loss assessors through education and training, introduction of best practices among its members and conduct of professional examinations relating to the profession of surveyors and loss assessors.

Currently, the institute is enrolling members and the application form is available on the IRDA Web site.

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