Employee unions of public general insurance companies to go on strike on Jan 4

New Delhi: With the employee unions in the public general insurance companies and the General Insurance Corporation of India Ltd (GIC Re) calling a strike on January 4, a conciliation meeting has been called by the Chief Labour Commissioner (Central) for January 2, said a top union official.

'JFTU alleged that the proposed restructuring would weaken the public sector entities'

The Joint Forum of Trade Unions (JFTU) of general insurance companies alleged that the proposed restructuring would weaken the public sector entities. "The proposed restructuring involves the closure and merger of offices, including profitable offices, and imposition of Key Performance Indicator (KPI)," said the JFTU in a statement.

The JFTU also added that in the last couple of years about 1,000 offices, mostly in Tier II and Tier III cities, have already been closed.

LIC launches two new pure risk premium life insurance plans on Nov 23

'Massive closures & mergers of hundreds of offices in PSGIC affecting policyholders & citizens'

"This unilaterally forcing massive closures and mergers of hundreds of offices in public sector general insurance companies (PSGIC) are not only affecting the policyholders but the citizens at large," said the statement. It also added that it is also giving undue favour to private insurance companies to capture the market in Tier II and III cities.

"We learnt that Joint Secretary Saurabh Mishra has been pressuring the board of the National Insurance as per his whims and fancies and also pressurised the board for recruiting a Chief Technical Officer in the past to favour his near and dear for a huge package," it alleged.

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