Modern Conduct Code Introduced for Insurance Surveyors

Published: 01 Jan 2026, 06:38 pm

The Government of Bangladesh has unveiled a comprehensive new regulatory framework detailing the duties, responsibilities, and professional conduct of insurance surveyors and loss assessors. The “Insurance Surveyor and Loss Assessor Duties, Responsibilities and Code of Conduct 2025,” officially gazetted on 25 December 2025, was made publicly accessible through the Insurance Development and Regulatory Authority (IDRA) website on Thursday, 1 January 2026.

The principal aim of the new code is to enhance professionalism, transparency, and accountability, particularly within the non-life insurance sector. By standardising practices in loss assessment, the regulation seeks to improve operational efficiency and safeguard the interests of policyholders.

Under the new framework, insurance surveyors and loss assessors are required to conduct thorough inspections and verifications of property and insurance-related matters. Adequate time must be devoted to determine the actual extent of losses. The key responsibilities are summarised below:

Activity	Primary Guidelines
Disclosure of Relationships	Any familial or business relationships must be officially declared.
Confidentiality	Policyholder and claimant information must be handled fairly and confidentially.
Loss Assessment	Actual losses must be determined in accordance with policy terms.
Re-Inspection	Multiple inspections are required if necessary.
Co-Insurance and Multiple Policies	Provide detailed accounts of losses and recoverable assets where multiple policies apply.
Expert Consultation	Seek expert advice with the policyholder’s consent when necessary.
Record-Keeping	Survey reports and related documentation must be retained for at least three years.

The new regulations also clearly define professional conduct standards. Surveyors are expected to act with honesty, competence, impartiality, and diligence during inspections. They are obliged to support the training and skill development of colleagues, refrain from disclosing information without authorisation, and report any information that may impact national interests to the relevant authorities. Additionally, maintaining proficiency in modern technologies and contemporary assessment techniques is mandatory.

IDRA has emphasised that the 2025 code will significantly improve transparency, professionalism, and operational efficiency in Bangladesh’s insurance sector. In particular, it is expected to expedite fair and accurate claims processing in non-life insurance, thereby enhancing trust between insurers and policyholders.

In summary, the gazetted code provides a structured framework for the duties and ethical conduct of insurance surveyors and loss assessors. It marks a significant step towards modernising and strengthening the insurance industry in Bangladesh.

Modern Conduct Code Introduced for Insurance Surveyors

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