New Delhi, Dec 21 (UNI) Insurance surveyors and loss adjusters across the country, who have been fighting for recognition for many years, have at last realised their first step with the setting of Indian Institute of Insurance Surveyors and Loss Adjusters(IIISLA).
Set up under section 25 of the Companies Act, the institute, on the direction of Insurance Regulatory&Development Authority (IRDA), recently held elections chosing Mumba-based M J Dhruva its president, according to IIILSA's Jalandhar-based secretary Arun Kumar.
In a statement, he said the body elected a 12-member council, including four office bearers. Besides, three nominees of the government have been appointed to the body which, he added, has been set up with the aim of achieving professional excellance. The government's nominees are General Insurance Council chairman K K Shrinivasan, Union Finance Ministry deputy secreetary Lalit Kumar and IRDA's joint director Suresh Mathur, the statement said.
Mr Arun Kumar said 4375 surveyors had become members the body before the election and the newly-elected council has been authorised to scrutinise and enrol new members.
He said the Union government will watch functioning of the IIISLA before granting it a Charter Status through a Parliamentary legislation.