Section 64UM of IA : Section 64Um: Surveyors And Loss Assessors
IA
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Explanation using Example
Imagine you have a car insurance policy and unfortunately, you get into an accident that causes significant damage to your vehicle. You file a claim with your insurance company for the damage. According to Section 64UM of the Insurance Act, 1938:
- The insurance company is required to appoint a surveyor or loss assessor who meets the specified academic qualifications and is a member of a professional body, such as the Indian Institute of Insuran...
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