GIEAIA urges govt to merge all the 4 state-run non-life insurers

Mumbai, May 10 The Working Committee of General Insurance Employees All India Association (GIEAIA) has urged the Government to strengthen and support this prime Public Sector by merging all the four Public Sector General Insurance Companies in the larger National Interest and encourage insurance penetration throughout the country.

A resolution to this effect was passed during the 63rd Working Committee Meeting at Pune on May 07. Amarjeet Kaur, President, GIEAIA and General Secretary, AITUC presided over the meeting.

The Working Committee Members from all over the country deliberated on various burning issues confronting the Public Sector General Insurance Industry.

The Working Committee urged the Government to strengthen and support this prime Public Sector by merging all the four Public Sector General Insurance Companies in the larger National Interest and encourage insurance penetration throughout the country.

It gave a clarion call to protect and strengthen these Public Sector companies garnering a cumulative premium in excess of One Lakh Twenty Five Thousand Crores while simultaneously fulfilling its Social responsibilities by Implementing all Social Schemes of the Government of India like Ayushman Bharat Scheme, Pradhan Mantri Fasal Beema Yojana, Corona Cavach and many more such Schemes. These PSGICs have been serving a significant section of the society, including the marginal societies, BPL families, down trodden and the farmers without any discrimination.

Talking to Bizz Buzz, Trilok Singh, General Secretary, GIEAIA, said, “The Working Committee demanded that the Government of India, Department of Financial Services and IRDA should take strict and prompt actions by imposing huge penalties or should cancel the licences of those Private Players who have cheated the Government by not paying GST and Income Tax, which is in thousands of crores and raised questions on the integrity of such private players which aremainlining and defaming the Insurance Sector.”

It also urged the Government to refer the amendments to Insurance Sector to the Parliamentary Committee on Finance for a meaningful and constructive discussions.

It cautioned the Government of the unethical practices before Nationalisation of General Insurance Sector and demanded that the noble objective of Nationalisation of General Insurance Sector is yet to be achieved in the interest of the citizens and the Society at large.

The Committee decided to hold seminars, throughout the country to gather the popular support of the political class, progressive section of the society and the Citizens at large to protect and strengthen this prime Public Sector and to Merge All the Public Sector General Insurance Companies in today's Market conditions to avoid rate cuttings and to reach to the nook and corner of the Country to provide general insurance coverage to every citizen of the Country to fulfil the dream of the present Government to make the general insurance reach to every citizen of the country.