Section 7 in The Insurance Surveyors And Loss Assessors (Licensing, Professional Requirements And Code Of Conduct) Regulations, 2000
7. Renewal of license
.-(1) An insurance surveyor and loss assessor, desiring to renew the license granted earlier, either under these regulations or prior to the commencement of these regulations, shall apply to the Authority atleast thirty days before the expiry of the period of validity thereof, in Form-IRDA-5-AF (for individuals)/Form-IRDA-6-AF (for corporate surveyors) as given in the Schedule to these regulations, alongwith a renewal fee of two hundred rupees:Provided that the Authority may, if it is satisfied that undue hardship would be caused otherwise, accept any application, within six months of its expiry on payment by the applicant of a penalty of seven hundred and fifty rupees:Provided further that a license not so renewed can be revalidated only as a fresh case.(2)A license so renewed shall be valid for five years from the date of renewal, unless cancelled earlier. The renewed license shall be in Form-IRDA-7-LF or Form-IRDA-8-LF, as the case may be.(3)Every applicant, be it an individual or a company or a firm, while applying for renewal of the license shall certify to the Authority that he or any of its directors or any of its partners, as the case may be, has:(i)not 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;(ii)not made a statement which is false in material particulars with regard to his eligibility for the 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;(iii)neither had his license cancelled or suspended under the Act, nor had violated the code of conduct prescribed under these regulations;(iv)discharged the duties and responsibilities as a professional;(v)not been negligent in the discharge of his obligations;(vi)not been sentenced to a term of imprisonment by any Court of law.
