Surveyors and loss assessors holding valid licence as well as categorisation issued by the Irda are eligible to become members of the institute. There are two classes of membership, viz associate and fellow and criteria therefore are mentioned in the annexure to the application form. Membership fee are as follows: one time entry fee - Rs 10,000/- for existing surveyors on cut-off date; Rs 5,000/- for members enrolled thereafter. The cut-off date for this purpose would be November 20, 2000, ie the date on which Irda (Insurance Surveyors and Loss Assessors) Regulations, 2000 came into force. The annual membership fee for a fellow is Rs 3,500/ while for the associate is Rs 2,500/. In order to streamline, regulate and develop the profession of Surveyors & Loss Assessors, the Bhandari Committee, appointed by the ministry of finance had proposed that it was necessary to promote the establishment of an institute for Surveyors and Loss Assessors.

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