Section 7(1) in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
(1)the application for grant of license can be rejected on the following grounds:(a)does not conform with or the applicant fails to comply with the provisions of the Act and these Regulations.(b)if the Authority is of the opinion that the grant of license is not in the interest of the policy holders.Provided that before rejecting any such application, the applicant shall be given a reasonable opportunity of being heard.
