Election to select 12 directors of The Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA) is underway. Out of the 12 vacancies, elections for the eights posts were vacant since long period of time due to various reasons. The present council comprising of four elected directors and three nominee directors had taken a few decision for the members as well as the fraternity. On members demand, the present council had taken a decision to go for online voting for the first time in IIISLA History.
The present council has been managing the IIISLA affairs since approximately one and half year. Here are the few decisions taken by the council:-
The IRDAI had formed a Working Group (WG) to revisit the surveyors’ regulation 2015 and recommend changes for the next regulation. Other than representatives from the regulator, there were representatives one each from PSU Insurers, Pvt. Insurers, Corporate surveyors and IIISLA. For IIISLA, I was chosen as one of the committee members. Several meetings of the WG were held where various aspects in relation to our profession and the Industry was discussed in detail. On the basis of discussions, the committee had proposed some recommendations for changes in the regulation and the recommendations were presented to the honorable chairman of IRDAI on 18-2-2019. A few details of the proceedings of the WG are as follows:-
- The issues regarding renewal of surveyors’ licence was brought to the notice of the board and discussed in detail. The entire licensing procedure was proposed to be replaced by registration in the long run, which will not require any renewals.
- There was an effort within the committee mainly from the Private Insurers to remove survey limit of Rs 50,000 in motor and Rs 1,00,000 in non-motor. It was objected strongly as this would encourage survey conducted by insurers/ employees which will only invite conflict of interest and this is against to the spirit of the Insurance Act. Thankfully no changes were recommended. Now in the list of recommendations presented to the chairman, there is no recommendation for change in limit.
- There were efforts to waive off IIISLA membership for licence, as act does not provide for it. Some members argued to grant automatic IIISLA membership. This was also objected as this would encourage survey/ loss assessment to be done by insurers through their employees or even employees of insured, and again this was against the spirit of the Insurance Act. Inspite of my objections, the recommendations were made by the committee, however the dissent note of mine also figures in the report of the WG. This dissent note is applicable to entire recommendations for employee surveyors as IIISLA had raised the objection on the concept itself.
- There were also recommendations for issuing membership to employees of corporate surveyors. As per the Act, there is the provision of only company or firm and there are no provisions of employees of such companies or firms. Moreover, surveys done by employees of Companies/ firms/ corporates are equivalent to outsourcing of survey jobs which is not permissible. In spite of my objections, this also found a place in the report however the dissent of mine also is a part of the report.
Other than the WG committee, the council also took a vital role in redesigning the Indian Motor Tariff. I got the opportunity to represent surveyors in the committee and Mr. R.K Jalan and I demonstrated the surveyors issues before the committee which were highly appreciated by the other stake holders. The changes are under process.
Several changes were initiated in IIISLA administration within this period. Online payment of subscription, introduction of mobile App., redesigning of IIISLA website, introduction of e-voting are a few to be named.
Most importantly, efforts were made to build up relationship with various stakeholders of the Insurance Industry namely the Regulator, General Insurance Council, PSU & Pvt. Insurers, and Educational Institutes etc.
We are hopeful that a good council gets elected to carry forward the Institute to greater heights which will benefit the fraternity as well as the entire Insurance Industry.
