GIEAIA opposes new appraisal system for insurance employees

The employees of General Insurance Companies have been agitating for a long time for their LTS (Long Term Settlement) which is been delayed even beyond the duration of the last LTS and for being let down when they were assured wage rise parity with LIC employees

General Insurance Employees All India Association (GIEAIA) has strongly opposed the imposition of unilateral performance linked wage revision. The Association has made it clear before the Union Finance Minister, Nirmala Sitharaman during a pre-Budget consultation with her recently.

Talking to Bizz Buzz after meeting the FM, Trilok Singh, general secretary, GIEAIA, said: "GIEAIA vehemently opposes the imposition of unilateral performance linked wage revision in future and is on the path of agitation against unilateral imposition of KPI, restructuring, massive closer and merger of offices including the profitable offices."

The association demanded the merger of all public sector general insurance companies, to provide a level-playing field to the PSGICs, to attain wider autonomy in PSGICs and to take severe action on the unethical practices of the private sector, he said.

The employees of General Insurance Companies have been agitating for a long time for their LTS (Long Term Settlement) which is been delayed even beyond the duration of the last LTS and for being let down when they were assured wage rise parity with LIC employees. Further, they are saddled with KPI, without any bipartite consultations with their Unions. This needs to be corrected, says the pre-Budget memorandum submitted by the Association before the FM.

Employees of all other PSUs sold for a song have been left high and dry with sudden termination of their earlier service conditions, says the letter referring to the cases of Air India and Pawan Hans.

The much touted LIC-IPO, the Association feels, is against the interests of the insured common people, besides being anti-LIC, as with the sale of LIC shares, priority will be to given to pay dividend to shareholders rather than bonus to the insured people, as was being done so far.

MSP to farmers: Last but not the least, guarantee MSP to the Farmers, who were promised it, when the farm laws were withdrawn. This will also reduce the number of youth migrating to urban centres, as farming becomes uneconomical without the MSP. MSP covering all crops as per Swaminathan Committee recommendations (C2+50%) along with ensured procurement should be ensured.

Insurance compensation: The climate change has caused havoc with agriculture during 2022. Please see to it that insurance companies compensate the farmers, whose premia have been collected while giving them loans.