Some employees of public sector general insurance companies have said to go on strike on January 4. Behind this is the proposal to restructure government insurance companies. The Joint Forum of Trade Unions (JFTU) of General Insurance Companies alleges that the public sector units will become weak after the proposed changes. The JFTU said in a statement that the proposed changes include the closure and merger of offices, including for-profit offices. The union said that a Key Performance Indicator (KPI) will also be installed along with it.
Allegations of benefiting private companies
JFTU said that in the last few years, around one thousand offices, mostly located in Tier-2 and Tier-3 cities, have been closed. It says that the large-scale closure of public sector general insurance companies and the merger of thousands of offices have affected not only the policyholders but also the citizens. He said that this will also help private insurance companies to capture the market in Tier-2 and Tier-3 cities.
About 50,000 workers and officers of four insurance companies - National Insurance Company Limited, Oriental Insurance Company Limited, New India Assurance Limited, United India Insurance Company Limited and GIC Re - will go on a one-day strike on January 4, the employees' union said. . He alleged in the statement that he has come to know that Saurabh Mishra, Joint Secretary, is putting pressure on the Board of National Insurance as per his wish. He said that Mishra had earlier also asked for a big package for his close ones in the appointment of Chief Technical Officer.
Apart from this, let us tell you that the Insurance Regulatory and Development Authority of India (IRDAI) changed many rules to increase the Ease of Business Doing in the insurance sector. Especially the form of life insurance and health insurance has become very widespread. By the way, since the beginning of Corona in 2020, IRDA has started paying special attention to the health insurance sector. The biggest event in the insurance sector this year was the listing of the Life Insurance Corporation of India ie LIC in the stock market.
