The countrywide Relay Dharna from 15.11.2021 to 19.11.2021 followed by lunch hour demonstration was observed in all Head Offices, Regional Offices & other centres opposing privatization, disinvestment and demanding immediate settlement of long pending wage revision and other demands. More than 50 thousand employees & officers have been continuously struggling for the last 51 months to meet out their legitimate demands.
Press Release
Date: 19th November, 2021
Issued by Joint Forum of Trade Unions/Associations in Public Sector General Insurance Industries (JFTU-PSGICs)
The countrywide Relay Dharna from 15.11.2021 to 19.11.2021 followed by lunch hour demonstration was observed in all Head Offices, Regional Offices & other centres opposing privatization, disinvestment and demanding immediate settlement of long pending wage revision which is due from 1st of August 2017, updation of family pension from 15% to 30%, enhancement of NPS contribution to 14% and 1995 pension scheme to all newly recruited employees and officers. More than 50 thousand employees & officers have been continuously struggling for the last 51 months to meet out their legitimate demands.
It is painful for the entire workforce who worked as Corona Warriors in the period of Covid 2019 pandemic in such tough time and gave their best contribution over the past many years. As per the record, thousands of crores of rupees were given to the Govt of India by the Public Sector General Insurance companies and also incurred heavy losses suffered during the countries worst disasters viz earthquake, floods and riots in the last 50 years. Regardless of 1984, riots Gujrat riots, Gujarat earthquake and Kedarnath disaster, during the terrible flood and tsunami in Assam, Bihar Chennai and Mumbai etc and during the heavy rains, hailstorms and storms this industry was the biggest saviour of the countrymen under its welfare policy.
These public sector insurance companies are working for the ordinary people of this country and provide General insurance service to the entire society and serve more than 50 crores people of this country through Fasal Bima Yojana schemes, PM Ayushman Bharath Scheme, Suraksha Bima Scheme and many other social sector schemes which are not being done by the private insurance companies.
These companies have invested around 1.7 lakh crore in the Govt securities and infrastructure development. These companies have underwritten 9 crore Prime Minister Suraksha Bima Yojana policies, a pet project of this Government. The cover provides 2 lakhs compensation for a premium of just Rs. 12/-. The 27 private companies sensing the claims ratio have underwritten very less policies . These public sector general insurance companies underwrite nearly 20 % of the business in rural areas and are pioneer in cattle insurance. Despite unethical competition from private general insurance companies, Public Sector GI companies command around 42 % market share. This could have been much higher had the four PSGI companies been merged into a single entity akin to LIC. Privatisation of Public sector general insurance companies is detrimental to the interests of the people of this country.
Therefore, the need of the hour is to strengthen the Public Sector General Insurance Companies. The entire work force of the PSGI’s Companies facing lot of uncertainties about their job security, service conditions and other benefits due to provision of newly adopted GIBNA amendment Act 2021. The work force of these Companies at all level both working and retired are seriously concerned about the impact of these provisions in their livelihood. Therefore, we once again demand to repeal this act.
The unions and Associations feels that good sense should prevail on the DFS and GIPSA management failing which we will be forced to go for bigger and wider Trade Union actions throughout the Company.
(Trilok Singh)
Convener
Joint Forum Of All Trade Unions
And Associatons (Northern Zone)
Our wage revision due wef agust 2017 which pending till date . But we are not getting any possitive response from the government . This is first time in my entire life . Government not decided yet about our general insurance company. So request to the government for our company employees.