IRDAI replaces SLA licensing with annual-fee registration framework
Clarification on transitional arrangements for payment of Annual Fee and issuance of Certificate of Registration pursuant to the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (SBSR Act) – Applicability to Surveyors and Loss Assessors
The Gist
On 7 April 2026, IRDAI issued a clarification (Ref: IRDAI/INT/CIR/MISC/54/4/2026) extending its earlier intermediary-fee circular to Surveyors and Loss Assessors (SLAs). Under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, Section 42D of the Insurance Act, 1938 was amended so an intermediary's registration stays in force only against an annual fee — replacing the earlier three-year licence-plus-renewal cycle.
Effective 5 February 2026, SLAs are issued a Certificate of Registration (CoR), downloadable via the BAP portal. For applications approved between 5 February and 30 June 2026, an interim annual fee applies: ₹400 + 18% GST = ₹472 for individual SLAs and ₹2,000 + 18% GST = ₹2,360 for corporate SLAs. Already-remitted fees will be adjusted against the interim fee. Lapsed-licence revival applications submitted on or before 4 February 2026 are still handled under the IRDAI (SLA) Regulations, 2015; later revival requests are treated as fresh registrations (including examination and training requirements).
Who's affected & what changes
All practicing Surveyors and Loss Assessors now operate under a registration regime with annual-fee compliance, replacing the multi-year licence model. The arrangement is transitional pending notification of permanent regulations under the amended Section 42D framework. Application submissions continue via the BAP portal.
If you're in the industry
This completes the SBSR Act's downstream sweep — every IRDAI-registered intermediary class, including SLAs, now sits under a uniform Section 42D "registration + annual fee" regime. The transitional fee schedule (₹400 / ₹2,000) is likely a floor; expect the permanent regulations to set the actual structure. The harshest provision is on lapsed licences: revival applications dated 5 February 2026 onwards are treated as new registrations, meaning fresh examination and training — not a quiet renewal. Industry watchers should monitor the upcoming notified regulations for the permanent fee bands and any conditions tied to CoR continuity (suspension or cancellation triggers).
If you're an advisor or intermediary
If you work alongside surveyors during a claim — recommending one to a client, coordinating an assessment, or referencing surveyor credentials in your quote process — note that every SLA you encounter from now on holds a Certificate of Registration (not the old three-year licence). Verification still happens via IRDAI's BAP portal. You don't need to do anything different in your day-to-day work; the change is internal to the SLA profession. But if a surveyor mentions "licence renewal" in conversation, they're now talking about a CoR + annual fee structure instead.
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