Principles of Insurance Exam Study Notes

A Surveyor, also known as Loss-Assessor, is an Individual, whose Job is to assess the Loss, in General Insurance Business.
Medical Examiners - Examine and certify the health and insurability of the proposer, May be involved in underwriting as medical referees, Cases of doubt are referred to them for an opinion, In case of health insurance; advice may be sought to check if the claim being made is reasonable or not.
Third Party Administrator (TPA) - A TPA is a specialised service provider rendering various services related to health insurance, especially those relating to claims processing and settlement, Both the insured as well as the insurer benefit from the services of the TPA, TPA should meet eligibility in terms of share capital (Rs. 1 Crore), director qualification, officer training and passing the prescribed examination.
Insurance Regulatory and Development Authority of India (I.R.D.A.I.) is the Regulatory Authority, to Administer The Insurance Act, and to Regulate, Promote and Ensure the Orderly Growth of the Insurance Industry.
The Insurance Ombudsman is appointed to handle the Complaints of Aggrieved Insured Persons, and to ensure Quick Disposal of Grievances and mitigate their Problems, involved in Redressal of those Grievances. This Institution is of Great Importance and Relevance, for the Protection of Interests of Policy-Holders, and also in building their Confidence in the System. Currently, there are Ombudsmen Offices in 17 Cities, across India.

Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points