Guidelines for all General Insurance Companies for submission of Reports

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Last updated: 04 December 2020

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The IRDAI has issued new guidelines for all general insurance companies regarding the submission of reports. These guidelines, effective immediately, require insurers to file an annual report on the misconduct of licensed surveyors and maintain half-yearly data on survey jobs. Specific formats for these reports are provided in Annexures I and II.

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

Ref. No: IRDA/SUR/GDL/MISC/289/12/2020

Date:02-12-2020

To All General Insurance Companies

Sub: Guidelines for all General Insurance Companies for submission of Reports

1. This has reference to Notification of IRDAI (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 whereby

a. Vide Regulation 21(3) insurer are required to file with the Authority report on misconduct of licensed surveyors annually

b. Vide Regulation 21(4) Insurers are required to maintain half yearly data in the prescribed format.

2. All Insurers are directed to file and maintain above information in the formats prescribed hereunder.

a. Format for filing misconduct annual report is at Annexure I

b. Format for maintaining half yearly data is at Annexure II.

3. This is issued in exercise of the powers conferred under Sec. 34(1) of Insurance Act, 1938

These guidelines shall be applicable with immediate effect.

(Suresh Mathur)

Executive Director

Annexure I

Annual Report

Details of Misconduct of licensed surveyors and action taken by Insurer

Name of the Insurer:

Report as on 31st March ……

I hereby solemnly acknowledge that the details provided above are true.

Date:

Authorised Signatory

Annexure II

REPORT ON SURVEY JOBS FOR THE HALF YEAR ENDING ON …….

Sr. No.	Line of Business	No. of claims reported	No. of claims which required appointment of licensed surveyor as per Surveyors Regulations	Surveys undertaken by in house employees	Surveys undertaken by other than in house employee surveyors
Sr. No.	Line of Business	No. of claims reported		Surveys undertaken by in house employees	Individual	Corporate
1.	Fire
2.	Marine Cargo
3.	Marine Hull
4.	Engineering
5.	Motor
6.	Miscell-aneous
7.	LOP
8.	Crop
	Total

I hereby solemnly acknowledge that the details provided above are true to the best of my knowledge.

Date:

Authorised signatory

General insurance companies must now file an annual report detailing the misconduct of licensed surveyors and maintain half-yearly data on survey jobs.

These guidelines are applicable with immediate effect.

The format for the annual misconduct report is in Annexure I, and the format for maintaining half-yearly data is in Annexure II.

The annual misconduct report is to detail any misconduct by licensed surveyors and the actions taken by the insurance company.

The half-yearly data report requires information on the number of claims reported and surveys undertaken by both in-house and external surveyors, broken down by line of business.

Name and Address of Surveyor

SLA No. and Date of Expiry

Nature and details of misconduct

Details of claim and policy no.

Action taken by the Insurance Company

Remarks, if any

Notification No : Ref. No: IRDA/SUR/GDL/MISC/289/12/2020
Published in Miscellaneous
Source : https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4293&flag=1

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