PSGIC staffs express concern over dire state of state-run general insurance cos

Mumbai, Sep 06 General Insurance Employees All India Association of Class 3&4 and Class 1 in PSGICS has made an appeal to save the Public Sector General Insurance Companies.

It is with a sense of deep anguish and pain that we find ourselves compelled to inform each and every one of you about the dire state of affairs. The current government, which professes its commitment to nationalism, is in reality consciously engaged in the dismantling and sale of the cherished institutions that serve as the very foundation of modern India, said a statement by GIEAIA.

These prime public sectors are being handed over to crony capitalists and Corporate loot. The Public Sector General Insurance Companies (PSGICS), which have played a pivotal role in serving the people of our country and faithfully implemented a multitude of social schemes over the past fifty years, are currently facing gross neglect and erosion of their strength due to the anti-public sector policies of the present Govt. In the present landscape, PSGICS are at the forefront of implementing critical social welfare initiatives, including the Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Suraksha Bima Yojna, the Corona Kavach Yojana, Aayushman Bharat yojna and various others and are Sincerely implementing the directions of the Govt, Despite this, the present government is quick to claim credit for these programs and wasting Hundreds of Crores in publicity to take the political advantage while failing to provide adequate support to the PSGICS, their employees, officers, ex-employees, pensioners, agents, and other vital contributors. "It's strange that certain burning issues, such as an increase in NPS contributions and enhancements in family pensions, which have been resolved in the banking industry, are not being addressed in the public sector general insurance companies. zAdditionally, the merger of public sector general insurance companies and ensuring fair and equal opportunities and a level playing field for the PSGICS have not been receiving the quick and necessary attention from the central government. This lack of serious efforts to create a fair level playing field for public sector general insurance companies and to check the unethical practices of private players has significantly impacted the well-being of these companies."

Furthermore, the government's policies and actions have led to the sale of profitable public sectors to fulfil the corporate interests and of many others, undermining the fundamental tenets of our public sector foundation. It is both astonishing and disheartening to witness that the private players who have even looted thousands of Crores of GST and are not concerned on the social objectives and policies are being patronised. Responding to these alarming developments, the GIEAIA, in collaboration with like-minded associations and the JFTU, finds it necessary to bring to high light the anti-working class, anti-people, and anti-public sector agenda of the current government.

Talking to Bizz Buzz, Trilok Singh, general secretary, GIEAIA says, “It is evident that the government is prioritizing the interests of crony capitalists and the privileged class over the welfare of the common populace. As a response, we are forced to gear up, to launch and intensify powerful nationwide struggles and campaigns, with special emphasis on rural sector and the middle class.”

Presently, PSGICS are grappling with multifaceted challenges from both within the industry and with the external forces. Today it is our patriotic and Historic duty to expose these forces and also the entities benefiting and having unethical nexus with some TPAS, brokers, Private players, mediators, few DFS officials, and various other vested interests, he added.

Transparency is essential to enable informed public discourse. After careful consideration, the GIEAIA has resolved to initiate a historic struggle, in conjunction with like-minded associations, the JFTU, and with the support of central trade unions, WFTU, and the wider public, we stand committed to confronting these injustices. We urge our entire leadership to mobilize all employees, officers, ex-employees, pensioners, agents, surveyors, advocates, and esteemed customers to safeguard the PSGICS at every level.

“We are prepared to launch a serious agitation, ground-breaking campaign and to hold press conferences across the country to voice our legitimate demands, and to strengthen our valuable and national assets the prime public sector general insurance companies. GIEAIA firmly stands with the slogan of ‘Public sectors for public welfare and not for corporate loot’. Darshan Kumar Wadhwa, Secretary General, GIEAIA Class I.