The wage revision for officers and employees in Public Sector General Insurance companies had been pending since 2017. No discussions with concrete offers has been conducted so far by GIPSA regarding the issue - MP PR Natarajan.
Coimbatore: Highlighting the long pending demand for wage revision in Public Sector General Insurance Companies, Coimbatore MP P.R. Natarajan has penned a letter to the Finance Minister, Nirmala Sitharaman to advice General Insurance Public Sector Association (GIPSA) to conclude the wage revision at the earliest.
In his letter, MP PR Natarajan has stated that "The wage revision for officers and employees in Public Sector General Insurance companies is pending since 01.08.2017. No discussions with concrete offers has been conducted so far by GIPSA, regarding the issue.
The efforts of public sector general insurance companies has helped to take insurance cover to small town and villages. The annual reports of IRDA are a testimony to this fact by showing spread of its offices to rural areas when compared to the private players in the field", he noted in the letter.
"The four companies with a premium income of Rs. 72,000 crore for the year ended 2021 is a great achievement in a period in which the country is facing severe crisis disruptions in production due to Covid-19. They have done investments of around Rs 2 lakh crore and had paid a dividend of Rs.3,000 crore to the Government in the period under review for Wage revision
Particularly the performance of general insurance companies with regard to health insurance in Covid-19 situation deserves a mention. Considering all these facts, general insurance companies deserve a better wage revision", the MP mentioned in his letter to FM.
MP PR Natarajan in his letter has requested the Finance Minister to intervene immediately and advise the GIPSA to call unions for negotiations and settle the issue.
Notably, officers employees under the banner "Joint Front of Trade Unions" in General Insurance are going on a one day strike on 28.01.2022 on the issue.
In his letter, MP PR Natarajan has stated that "The wage revision for officers and employees in Public Sector General Insurance companies is pending since 01.08.2017. No discussions with concrete offers has been conducted so far by GIPSA, regarding the issue.
The efforts of public sector general insurance companies has helped to take insurance cover to small town and villages. The annual reports of IRDA are a testimony to this fact by showing spread of its offices to rural areas when compared to the private players in the field", he noted in the letter.
"The four companies with a premium income of Rs. 72,000 crore for the year ended 2021 is a great achievement in a period in which the country is facing severe crisis disruptions in production due to Covid-19. They have done investments of around Rs 2 lakh crore and had paid a dividend of Rs.3,000 crore to the Government in the period under review for Wage revision
Particularly the performance of general insurance companies with regard to health insurance in Covid-19 situation deserves a mention. Considering all these facts, general insurance companies deserve a better wage revision", the MP mentioned in his letter to FM.
MP PR Natarajan in his letter has requested the Finance Minister to intervene immediately and advise the GIPSA to call unions for negotiations and settle the issue.
Notably, officers employees under the banner "Joint Front of Trade Unions" in General Insurance are going on a one day strike on 28.01.2022 on the issue.