The largest union of the employees of public sector general insurance industry, GIEAIA, has demanded the merger of all the four state owned general insurance companies-New India Assurance, National Insurance Company(NIC), United India Insurance(UII) and Oriental Insurance Company(OIC) rather than three, NIC,UII and OIC.
Finance minister Arun Jaitley, as a part of his Budget 2018 proposals, had announced that three public sector general insurance companies would be merged before listing of the merged entity.
General Insurance Employees’ All India Association(GIEAIA), the biggest trade union of general insurance employees, formed in 1971, had met G. Srinivasan, chairman, GIPSA(Association of Public Sector Insurance Companies) in New Delhi on Wednesday and among other proposals demanded that instead of merging three companies, government should merge all four companies and should form one single monolithic corporation in line with the Life Insurance Corporation(LIC)..
“We requested him to impress upon the Government to think in line with GIEAIA's ideology and should form only single monolithic corporation before going for IPO,’’ said Trilok Singh,secretary, GIEAIA…
On the issue of giving one more option for the pension for the employees of the PSU general insurance industry, Srinivasan informed that the matter needed to be taken up by all associations with the Finance Minister. He informed that there is a consensus at all level within ministry on the issue and the final decision in the matter has to be taken by finance minister only.
Regarding the negotiation for the Wage Revision, he informed that it is not the right time for starting any discussion on wage revision.
Regarding substantial increase in eligible sum insured in staff group mediclaim policy, GIPSA chairman assured them that the matter is being looked into by them and very soon the same would be addressed on positive note.
GIEAIA delegation had comprised of Trilok Singh, Rajiv Sharma, Satish Jindal V K Tiwari, Anita Khanna and BS Rawat