Tamil Nadu - Coimbatore   

Notify wage revision agreements, say insurance employees

Staff Reporter

`Demand to merge four public sector companies, most relevant' `The delay is due to negativism on the part of the managements'

COIMBATORE: General Insurance Employees' Association, South Zone, has urged the Central Government to notify agreements on wage revision.

At the recently concluded two-day zonal-level meeting of District Secretaries of the Association here, the members lamented that even after an accord was forged, there was delay in the issue of notification.

Negativism

"The delay is due to negativism on the part of the managements, which are linking issues that are not connected with wage revision," they charged.

Revision of wages for public sector general insurance employees had been due from August 1, 2002.

Better positioning

J. Gurumurthy, Secretary, Standing Committee of the All-India Insurance Employee's Association, urged the Government to expedite the merger of insurance companies.

Mr. Gurumurthy said: "The demand for merger of the four public sector general insurance companies is most relevant in the present context as this will help strengthen them and lead to its better positioning for meeting the challenges ahead."

The present competition among the four public sector companies and also with private sector companies would only harm their interests, he said.

Another demand of the Association was amendment to the Motor Vehicles' Act. Stating that third party liability had become the "biggest challenge" to general insurance companies, Mr. Gurumuthy said the Act had to be amended to provide a structured compensation.

Move opposed

The Association also opposed the move to hike Foreign Direct Investment (FDI) in insurance.

FDI increase

If FDI was increased from 26 per cent to 49 per cent - as proposed - it would affect public sector insurance companies, as they were cross-subsidising rural and other socially-oriented insurance schemes, he said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Will it be a smooth ride on Marudamalai Road?
Judge for imparting legal awareness to women SHGs
Bus stops at major points pose problems
They swear by hybrid cotton
Refresher courses in Bharathiar University
Notify wage revision agreements, say insurance employees
SSA organises medical camps to identify disability
Missing girl traced in Erode
Programme to help women realise their potential
National Talent Search Exam postponed
Around the City
In Coimbatore Today

Copyright © 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu