Last year, Irda had categorised the licensing of surveyors into three categories - A, B and C and had indicated the financial limits upto which each individual category of surveyor would carry out the survey. However, it received a large number of representations from surveyors for rationalisation of the structure. Thus, Irda chairman said in a notice to surveyors, it is now decided to re-fix the limits of the value of survey to be undertaken by different category of surveyors with effect from June 1 in respect of the classes of survey as follows:
In marine cargo and miscellaneous business, under category C, the existing limit of Rs 1 lakh would be enhanced to Rs 3 lakh, while for category B the present limit of Rs 3 lakh would be enhanced to Rs 7.5 lakh. Category A surveyors would be permitted to undertake survey in respect of claims over Rs 3 lakh. In the case of fire portfolio, category C limit of Rs 10 lakh would be reduced to Rs 5 lakh, category B existing limit of Rs 25 lakh to Rs 20 lakh and for category A the limit would be above Rs 5 lakh instead of Rs 10 lakh.
For engineering cases, the existing category C limit of Rs 5 lakh now would be reduced to Rs 2 lakh, category B from Rs 10 lakh to Rs 7.5 lakh and category A the limit above Rs 2 lakh against Rs 5 lakh.