Wage revision: PSU general insurance staff to strike work on Friday

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SME Times News Bureau | 27 Jan, 2022
About 40,000 employees of the four government owned non-life insurance companies will strike work on Friday demanding wage revision, said a leader of the All India Insurance Employees' Association (AIIEA).

"About 40,000 or about 80 per cent of the employees in the four government owned general insurers -- National Insurance Company Ltd, The New India Assurance Company Ltd, The Oriental Insurance Company Ltd and United India Insurance Company Ltd -- will strike work on Friday pressing mainly for wage revision that fell due in 2017," G. Anand, General Secretary, South Zone AIIEA, told IANS.

According to him, 16 employees unions and associations representing officers and clerks will be participating in the strike.

However, the major union in the government owned general insurance sector General Insurance Employees' All India Association (GIEAIA) is not participating in the strike.

Wage revision for the employees of the four companies fell due in August 2017.

With the wage revision completed in banking and in Life Insurance Corporation of India (LIC), employees in the public sector general insurance companies are very upset.

On its part the government has announced its intention to privatise one of the following companies -- National Insurance, Oriental Insurance and United India.