64U. [Establishment of Tariff Advisory Committee.] — Omitted by Insurance Laws (Amendment)
Act 2015 (5 of 2015) s. 80 (w.e.f. 26-12-2014).
64UA. [Composition of the Advisory Committee.] — Omitted by s. 80, ibid. (w.e.f. 26-12-2014).
64UB. [Power to make rules in respect of matters in this Part]. — Omitted by s. 80, ibid. (w.e.f.
26-12-2014).
64UC. [Power of the Advisory Committee to regulate rates, advantages, etc.] — Omitted by s. 80,
ibid. (w.e.f. 26-12-2014).
64UD. [Transitional provisions.]— Omitted by s. 80, ibid. (w.e.f. 26-12-2014).
64UE. [Power of the Advisory Committee to require information, etc.] — Omitted by s. 80, ibid,
(w.e.f. 26-12-2014).
64UF. [Assets and liabilities of the General Insurance Council to vest in the Advisory
Committee.] — Omitted by ibid. s. 80 (w.e.f. 26-12-2014).
64UG. [Contracts, etc., to be effective by or against the Advisory Committee.] — Omitted by s.
80, ibid. (w.e.f. 26-12-2014).
64UH. [Employees, etc., to continue.]— Omitted by s. 80, ibid. (w.e.f. 26-12-2014).
64UI. [Duty of person having custody or control of property to deliver such property to the
Advisory Committee.] — Omitted by s. 80, ibid, (w.e.f. 26-12-2014).
64UJ. [Power of the Advisory Committee to constitute Regional Committees.] — Omitted by s.
80, ibid. (w.e.f. 26-12-2014).
64UK. [Levy of fees by the Advisory Committee.] — Omitted by s. 80, ibid. (w.e.f. 26-12-2014).
64UL. [Power to remove difficulties.] — Omitted by s. 80, ibid. (w.e.f. 26-12-2014).
3
[64ULA. Transitional provisions. —(1) Notwithstanding anything contained in this Part, until the
rates, advantage and terms and conditions laid down by the Advisory Committee under section 64UC are
de-notified by the Authority with effect from such date as the Authority may by notification in the
1. The words “or the Tariff Committee appointed under section 64-O” omitted by Act 62 of 1968, s. 28 (w.e.f. 1-6-1969).
2. Ins. by s. 29, ibid, (w.e.f. 1-6-1969).
3. Ins. by Act 5 of 2015, s. 81 (w.e.f. 26-12-2014).
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Official Gazette determine, and the rates, advantages and terms and conditions are decided by the insurer
concerned, the rates, advantages and terms and conditions notified by the Advisory Committee shall
continue to be in force and shall always be deemed to have been in force and any such rates, advantages
and terms and conditions shall be binding on all the insurers.
(2) The Authority shall, in consultation with the Central Government, prepare a scheme for the
existing employees of the Tariff Advisory Committee on its dissolution, keeping in view the interests of
such employees on such terms and conditions as it may, by order, determine.]
1
[64UM. Surveyors or loss assessors. —(1) Save as otherwise provided in this section, no person
shall act as a surveyor or loss assessor in respect of general insurance business after the expiry of a period
of one year from the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), unless
he—
(a) possesses such academic qualifications as may be specified by the regulations made under this
Act; and
(b) is a member of a professional body of surveyors and loss assessors, namely, the Indian
Institute of Insurance Surveyors and Loss Assessors:
Provided that in the case of a firm or company, all the partners or directors or other persons, who
may be called upon to make a survey or assess a loss reported, as the case may be, shall fulfill the
requirements of clauses (a) and (b).
(2) Every surveyor and loss assessor shall comply with the code of conduct in respect of his duties,
responsibilities and other professional requirements, as may be specified by the regulations made under
the Act.
(3) Notwithstanding anything contained in the foregoing provisions, a class or class of persons acting
as a licensed surveyor or loss assessor prior to the commencement of the Insurance Laws (Amendment)
Act, 2015 (5 of 2015) shall continue to act as such for such period as may be specified by the regulations
made under this Act:
Provided that the surveyor or loss assessor shall, within the period as may be notified by the
Authority, satisfy the requirements of clause (a) and clause (b) of sub-section (1), failing which, the
surveyor or loss assessor shall be automatically disqualified to act as a surveyor or loss assessor.
(4) No claim in respect of a loss which has occurred in India and requiring to be paid or settled in
India equal to or exceeding an amount specified in the regulations by the Authority in value on any policy
of insurance, arising or intimated to an insurer at any time after the expiry of a period of one year from
the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), shall, unless otherwise
directed by the Authority, be admitted for payment or settled by the insurer unless he has obtained a
report, on the loss that has occurred, from a person who holds a licence issued under this section to act as
a surveyor or loss assessor (hereafter referred to as “approved surveyor or loss assessor”):
Provided that nothing in this sub-section shall be deemed to take away or abridge the right of the
insurer to pay or settle any claim at any amount different from the amount assessed by the approved
surveyor or loss assessor.
(5) The Authority may, at any time, in respect of any claim of the nature referred to in sub-section (4),
call for an independent report from any other approved surveyor or loss assessor specified by him and
such surveyor or loss assessor shall furnish such report to the Authority within such time as may be
specified by the Authority or if no time limit has been specified by him within a reasonable time and the
cost of, or incidental to, such report shall be borne by the insurer.
1. Subs. by Act 5 of 2015, s. 82, for section 64UM (w.e.f. 26-12-2014).
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(6) The Authority may, on receipt of a report referred to in sub-section (5), issue such directions as it
may consider necessary with regard to the settlement of the claim including any direction to settle a claim
at a figure less than, or more than, that at which it is proposed to settle it or it was settled and the insurer
shall be bound to comply with such directions:
Provided that where the Authority issues a direction for settling a claim at a figure lower than that at
which it has already been settled, the insurer shall be deemed to comply with such direction if he satisfies
the Authority that all reasonable steps, with due regard to the question whether the expenditure involved
is not disproportionate to the amount required to be recovered, have been taken with due dispatch by him:
Provided further that no direction for the payment of a lesser sum shall be made where the amount of
the claim has already been paid and the Authority is of opinion that the recovery of the amount paid in
excess would cause undue hardship to the insured:
Provided also that nothing in this section shall relieve the insurer from any liability, civil or criminal,
to which he would have been subject but for the provisions of this sub-section.
(7) No insurer shall, after the expiry of a period of one year from the commencement of the Insurance
Laws (Amendment) Act, 2015 (5 of 2015) pay to any person any fee or remuneration for surveying,
verifying or reporting on a claim of loss under a policy of insurance unless the person making such
survey, verification or report is an approved surveyor or loss assessor.
(8) Where, in the case of a claim of less than the amount specified in sub-section (4) in value on any
policy of insurance it is not practicable for an insurer to employ an approved surveyor or loss assessor
without incurring expenses disproportionate to the amount of the claim, the insurer may employ any other
person (not being a person disqualified for the time being for being employed as a surveyor or loss
assessor) for surveying such loss and may pay such reasonable fee or remuneration to the person so
employed as he may think fit.
(9) The Authority may in respect of any claim of value of less than the amount specified in
sub-section (4) on an insurance policy, if the claim has not been or is not proposed to be reported upon by
a surveyor or loss assessor, direct that such claim shall be reported upon by an approved surveyor or loss
assessor and where the Authority makes such direction, the provisions of sub-sections (5) and (6) shall
apply in respect of such claim.
(10) Where, in relation to any class of claims, the Authority is satisfied that it is customary to entrust
the work of survey or loss assessment to any person other than a licensed surveyor or loss assessor, or it is
not practicable to make any survey or loss assessment, it may, by an order, exempt such class of claims
from the operation of this section.]