New Delhi: Thousands of insurance surveyors and assessors all over the country are told to be adversely affected with the new regulations proposed by IRDAI in its Regulation of 2019. The office bearers and members of Indian Institute of Insurance surveyors and loss assessors have given a call for a nationwide strike against the new drafts proposed.
The surveyors alleged that the provisions made in 2019 regulation will not only adversely impact the interest of public but hit the economy of the country as well.
On Monday the insurance assessors from Indian Institute of Insurance surveyors and loss assessors (IIISLA) from all across the country gathered at Jantar Mantar to protest against the new regulations.
Interacting with Ten News, member of all India chapter of IIISLA, Lalit Gupta, said, “In the new exposure draft by Insurance regulatory and development Authority(IRDAI), a hike in ‘No Survey Financial Limit’ has been made from Rs 50,000 to 75000 for motor claims and from 1 lakh to 1.50 lakhs in other claims. This will be handled by untrained employee surveyors and will result in injustice to the consumer as more than 85% of the total claim reported will fall in NSFL limit.’’
It is alleged that since the customer who is not well versed with the fine points of the policy will fall prey as the employee surveyor will either reject or reduce the legitimate claim on the pretext of small and avoidable technical deficiencies. The effect of this fall out will be similar to banking sector recently.
