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Wage hike for insurance staff

Staff Reporter

KOCHI: The General Insurers Public Sector Association (GIPSA), the management body of four public sector general insurance companies, has offered an increase of 11.5 per cent on wage bill as on August 1, 2002 to the general insurance employees. A 4 per cent of productivity-linked lump sum incentive as per the underwriting profit of each company is also offered. The offers were made by the GIPSA in wage revision talks with the recognised unions and associations in this sector on Tuesday.

GIPSA's original offer of 8.5 per cent was rejected by the unions in the previous talks.

The unions are not happy with the improved offer, according to P.P. Mohanan, convener of the Joint Action Committee of Employees and Officers.

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