Section 23 in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
23. Suspension of license.
(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.(2)The Authority may also suspend the license if it is of the opinion based on material information that the continuation of such license would be prejudicial to the interest of the policy holders, in which case the opportunity of personal hearing may not be provided.(3)The Authority may in addition to the suspension of the individual license of director/ partner of a corporate surveyor may also suspend the license of the corporate surveyor and loss assessor for any act committed as stated at sub-regulation 1 and 2 above.(4)The suspension of license shall be for such period as may be indicated in the order and shall take effect from the date of the order of suspension until revoked.(5)During the period of suspension, the holder of such a suspended license shall not carry out any survey and loss assessment work including the survey jobs on hand and shall return all such pending jobs to the insurer or the insured, as the case may be.
