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Loss Survey Limits for Categorised Surveyors

The categorisation of surveyors is presently being done in three categories viz., A, B and C. The categorisation is done by the norms defined by IRDAI. The categorisation allows the surveyors to handle claims within a financial limit in a particular product line.

IRDAI, vide its circular ref. 026/ IRDA/ SUR/ CIR/ DEC-08 dated December 22, 2008, has allowed the insurance companies to have their own internal limits in allocation of survey / loss assessment work to the three categories of surveyors.

While the classification of surveyors in each of the three categories is still the prerogative of IRDAI, the following are the financial limits internally set by the company for allocation of the claim surveys.

Line of Business
Category C Category B Category A
Fire up to `10 Lakh up to `25 Lakh No Limit
Marine Cargo up to `7.5 Lakh up to `15 Lakh No Limit
Marine Hull up to `5 Lakh up to `15 Lakh No Limit
Motor up to `5 Lakh up to `10 Lakh No Limit
Engineering up to `10 Lakh up to `15 Lakh No Limit
Loss of Profits up to `50 Lakh up to `1 Crore No Limit
Miscellaneous up to `7.5 Lakh up to `15 Lakh No Limit

These revised financial limits shall come in force with immediate effect. The allocation of the claim to the surveyor shall be on the basis of initial estimate of the loss.

All are advised to make a note of the revised limits and allocate the claims accordingly.

Close proximity claim (claim occurring within 30 days of the commencement of the cover) or complex claims may be assigned to surveyor of a higher category based on the discretion of the underwriter/ claim handler.

Any deviation to the rules not provided for above shall require the approval of the Chief Underwriting Officer of the Company. All such deviations shall be documented and maintained centrally.