Section 23(1) in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
(1)The Authority may suspend a license already granted, to a Surveyor and Loss Assessor (individual/ corporate), if he/it:(a)Fails to discharge the duties and responsibilities in a satisfactory and professional manner; or(b)Violates the code of conduct specified in these Regulations or(c)Makes a statement which is false in material particulars with regard to eligibility for obtaining license or renewal thereof or in any of the activities transacted by him or them or the matters connected therewith as a Surveyor and Loss Assessor or has after the issue or renewal of such license, acquired any of the disqualifications provided under section 42D of the Act; or(d)Has contravened any of the provisions of the Act, or the IRDA Act, or any rules or regulations made under those Acts, or any order or direction issued by the Authority; or(e)Has been negligent in discharge of his obligations; or(f)Has been sentenced to a term of imprisonment by any court of lawProvided that the Authority shall give a reasonable opportunity to the person concerned, of being heard before such suspension.
