IRDAI – Order in the matter of Shri Deependra Kumar Pandey, Insurance Surveyor and Loss Assessor (SL

IRDAI Cancels Surveyor and Loss Assessor Licence of Shri Deependra Kumar Pandey

The Insurance Regulatory and Development Authority of India (“IRDAI” / “Authority”) has issued a final Order in the matter of Shri Deependra Kumar Pandey, Insurance Surveyor and Loss Assessor (“Surveyor”/”SLA”), bearing Order No. IRDAI/INT/ORD/MISC/60/4/2026 dated April 30, 2026, pertaining to the renewal application (No. 500054555) for his Surveyor and Loss Assessor Licence (No. IRDA/IND/SLA-72887).

Background

During scrutiny of the renewal application, the Authority observed that the Surveyor had conducted a disproportionately high number of surveys during the preceding three financial years. Accordingly, the Authority sought multiple clarifications and directed the Surveyor to produce his survey registers for the relevant period.Upon examination, the Authority found multiple irregularities in the survey registers and subsequent submissions, raising concerns regarding compliance with the applicable regulatory framework.The Surveyor was serving as a Director of DISB Insurance Surveyor and Loss Assessors Pvt. Ltd. (“DISB”). The Authority also received multiple written complaints alleging that DISB had engaged unauthorised personnel for conducting surveys and had submitted inauthentic Form-12 returns. Based on these allegations, the Authority sought further clarifications from the Surveyor through the BAP Portal and follow-up emails.A Show Cause Notice (“SCN”) dated February 6, 2026, was issued to the Surveyor. The Surveyor submitted his written response on February 11, 2026, and a personal hearing was conducted on March 18, 2026.

Observations and Decision of the Authority

Charge	Violation	Observations	Decision
1. Conducting surveys while outside India	Regulation 13(1)(d) and Regulation 16(19B) of the IRDAI (Surveyors and Loss Assessors) Regulations, 2015.	The Surveyor travelled outside India from April 3, 2024 to April 10, 2024. Despite being abroad, the survey register reflected that he had conducted 45 surveys during this period. The Authority held that this raised serious concerns regarding the authenticity of the survey records and whether the surveys were actually conducted by the licensed Surveyor.	The Authority held that the Surveyor acted in wilful contravention of the Insurance Act, 1938 and the SLA Regulations. The Surveyor’s Licence was cancelled under Regulation 24(1) of the SLA Regulations. The renewal application was rejected. The Surveyor may apply afresh for a licence after expiry of one year from the date of cancellation.
2. Outsourcing survey work to unlicensed personnel	Regulations 13(1)(d), 16(1) and 16(19B) of the SLA Regulations.	A survey bill signed by the Surveyor was attributed to another former Director of DISB in the survey registers. The geographical spread of survey assignments made it impossible for one person to have conducted all surveys personally. The Surveyor admitted that his primary duties had been outsourced to unlicensed employees.	The Authority held that the Surveyor had violated the duties and code of conduct prescribed under the SLA Regulations.
3. Submission of inaccurate survey records and Form-12 returns	Regulations 16(1), 16(9) and 16(13) of the SLA Regulations.	Significant discrepancies existed between the survey registers and Form-12 returns for FY 2022-23, FY 2023-24 and FY 2024-25. The Authority questioned the authenticity of the survey registers and statutory returns. There were indications that reports attributed to another former Director were submitted after his exit from DISB. Four conflicting versions of the survey register were submitted on different dates. The Surveyor failed to disclose the complete extent of survey assignments while responding to the Authority.	The Authority concluded that these discrepancies reflected serious failures in maintaining accurate records and regulatory compliance.
4. Turn Around Time (TAT) violations	Regulation 13(2) of the SLA Regulations.	Persistent delays were observed in handling survey assignments. Out of 13,819 survey jobs, 3,497 reports were submitted beyond the prescribed 30-day timeline. In 206 instances, survey reports were submitted after 180 days.	The Authority observed repeated non-compliance with the prescribed timelines for submission of survey reports.
5. Outsourcing re-inspection activities	Regulation 13(1)(d) of the SLA Regulations.	The Surveyor assigned “under repair and re-inspection” responsibilities to seven employees. The Authority treated this as an admission that unlicensed personnel were carrying out re-inspection activities.	The Authority held that inspection and re-inspection activities must be undertaken only by licensed Surveyors and Loss Assessors.

Final Decision

• The Authority found serious and repeated violations of the Insurance Act, 1938 and the SLA Regulations.
• The Surveyor’s Licence No. IRDA/IND/SLA-72887 was cancelled under Regulation 24(1) of the SLA Regulations.
• The renewal application bearing Reference No. 500054555 was rejected.
• The Surveyor may apply for a fresh licence after expiry of one year from the date of cancellation.
• The Order is appealable before the Securities Appellate Tribunal (“SAT”) under Section 110 of the Insurance Act, 1938 within forty-five (45) days from the date of receipt of the Order.

Attachment

• Final Order in the matter of Shri Deependra Kumar Pandey, Insurance Surveyor and Loss Assessor.

Source Category: IRDAI