The IRDA and the Indian Institute of Insurance Surveyors and Loss Assessors (the ‘Institute’) had, vide a notice dt. 26-11-2005 invited applications for membership of the Institute indicating the fee structure which was as follows:

Entry fee- Rs. 10,000/- for surveyors existing on cut-off date, i.e.20-11-2000 Rs. 5,000/- for surveyors enrolled after cut-off date

Annual subscription – Fellow Rs 3,500/- Associate Rs.2,500/-

The IRDA and the Institute have received representations from a large section of surveyors indicating that they would find it difficult to pay the entry fee and annual subscription as notified vide notice dated 26-11-05.

The matter was put before the Ad-hoc committee of surveyors and after due consideration it was decided by the Institute and the IRDA that the fee structure would be revised as follows:

One-time entry fee : Rs. 5,000/- (uniform for all members)
Annual fee- Fellow : Rs. 2000/-
Associate : Rs. 1500/-

The due date for submission of the applications has also been extended up to 28-02-2006. The annual fee paid now would be valid for the period up to 31-03-2007.

The Institute and the IRDA hereby invite all eligible surveyors and loss assessors (i.e. surveyors who are both licensed and categorized) to enroll themselves as members of the Institute by paying the prescribed fee and submitting the duly filled in application form along with the required enclosures on or before 28-02-2006.

All surveyors who have already sent the application with the fees notified earlier would be refunded the excess fees.

For further details, application form, instructions, etc. kindly access the website www.irdaindia.org.



(M M SIDDIQUI)
Consultant & Spl. Officer