By Sanjay Jha, Member, Standing Committee, General Insurance
Reproduced from Insurance Worker, Monthly Journal of All India Insurance Employees’ Association, January 2022
The Nationalised General Insurers are contributing to the national economy in manifold ways. At the same time, they have developed into a resilient industry. Despite their multi- faceted contribution to the economy, the Central Government is adamant on privatising them. To facilitate their privatisation, the Government got the General Insurance Business Nationalisation Amendment Act, 2021 passed through the Parliament despite vociferous protests from a united opposition.