"NEW INDIA ASSURANCE" Will soon Offers 3-in-1 cover for Accident, Home, Health

"CORPORATE NEWS"

The country's largest non-life company — New India Assurance — will soon seek the regulator's approval to sell a combined policy that covers personal accident, household and health insurance. The combined feature is expected to increase retail penetration of personal accident and household insurance on the back of growing sales of health insurance.

Although personal accident policies have been around for decades and are much cheaper than term insurance covers sold by life insurers, sales have not picked up because agents do not find it economical to sell these policies. For instance, under New India's standalone personal accident cover, one can be insured for Rs 4 lakh for as low as Rs 125.

Same is the case with householders' cover — a policy that protects both the house and its contents. The innovation that New India plans to offer is a floating sum insured for household items. Thus, the insured would be able to claim for up to a particular value rather than declare and insure each and every item in the house. "We will file the combined policy with the regulator shortly," said G Srinivasan, CMD, New India Assurance.

The move to push retail sales comes at a time when growth in corporate insurance is stagnating. Growth in fire insurance has slowed to 7% despite robust growth in motor and health insurance. "Retail business has grown faster than corporate. As a result, the share of retail has grown by two to three percentage points to 65%," said Srinivasan. He added that, going by New India's numbers, the ratio of claims to premium was lower in retail than in corporate business.
Srinivasan said the company will add 20,000 agents during the current 2013-14 financial year. He said the company has recorded a net profit of Rs 701 crore in the first nine months, which was a rise of 36% over the corresponding period last year. The company's domestic premium has risen 16% to Rs 8,337 crore while global premium grew 15% to Rs 10,255 crore.

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AN URGENT APPEAL TO SAVE LIFE OF FELLOW NEW INDIAN- Mr. Ananda Krishnan, Assistant

TO ALL MEMBERS

Dear Friends,

AN  URGENT APPEAL

Mr.Ananda Krishnan.K.M. (54 years) Assistant (S.R.No.19410) Kannur Divisional Office under Ernakulam R.O. has been unwell for the last two years and was on leave on health grounds.  Mr. Ananda krishnan, who is having an exemplary work record, has been suffering from a kind of Motor Neuron Disease, diagnosed as Amyotropic lateral sclerosis since a couple of years.  Proximal as well as distal muscles of upper and lower limbs have become weakend, resulting in partial stoppage of body movements.  Besides, he also developed Type 2 respiratory failure and underwent tracheostomy (i.e a hole was made on respiratory canal to connect to a BiPAP-portable ventilator). Now he depends on intermittent use of a portable ventilator, a BiPAP, to be stable.  He was admitted in AIMS for 3 weeks and then was referred to a local hospital for palliative care, as there is no permanent cure for the disease. Food and medicines are now injected through a tube directly connected to intestine.

Now it has become impossible for Mr.Ananda Krishnan to do any work on his own. He has exhausted of all his financial resources as he has incurred huge amount for the treatment of disease at various hospitals.  His wife is unemployed and his two daughters are studying for Post graduation and Plus Two levels,   The sole breadwinner’s illness has effected the education of children.

Hence, we request all New Indians to help Mr.Ananda krishanan at his critical stage in his life.  This is the time to render a helping hand to one of the fellow New Indian in distress.

A Committee has been formed at Kannur DO for this purpose and your valuable contributions may be forwarded to Convenor  Kannur DO or directly to Anandakrishnan’s Bank Account No. 1631024392 Central Bank of India, Kannur Branch, IFS Code CBIN 0280972 and mail the details to nia.760800@newindia.co.in

T.K.Sathishkumar

Working President
NFGIE

....................................... 
... EDITOR

JOINT ACTION ON STAFF GROUP MEDICLAIM POLICY-2014

GENERAL CIRCULAR ISSUED FOR READ & CIRCULATION BY "NFGIE"

12.02.2014

Friends,

You are aware that National Federation of General Insurance Employees has participated in all demonstration & Dharna held in  all over India as a constituent of Joint Forum.  The Dharna on 22 January, 2014 before National Insurance Co Ltd Head Office at Middleton Street Kolkata was a massive success. Active participation of  officers and employees in the similar  Demonstration and Dharna  held at  all Head Offices and Regional Offices of GIPSA companies also made significant impact on the Management. The fight against GIPSA  Management’s arbitrary unilateral imposition of GMC has evolved serious repercussion amongst all section of employees and officers and  ushered a path of  forming a joint action Forum in the name of JOINT FORUM OF UNION/ASSOCIATION OF  OFFICERS AND EMPLOYEES OF  PSGI Companies. All leading Association and Organisation  except AIIEA joined hands to fight against the  evil design of Management. 

This J F U A of officers and employees  have submitted a Memorandum  to Mr Rajiv Takru, Secretary, D.F.S, Ministry of Finance, Govt of India  on 4^th February 2014 demanding   many burning issues confronting the interest of the  Officers and Employees of General Insurance Industry.  Some of them are as follows :

1.      Another Option for Pension 
2.      Improvement in the Group Mediclaim Policy 
3.      Amendment of the Promotion Policy for Officers & Employees
4.     Compassionate Appointment 
5.      Early Wage Revision 
6.      Amendment of Transfer & Mobility Policy 
7.      Early Notification of NPS 
8.      Recognition of Association/Unions 
9.      Payment of PLLI to all and amendment in PLIS 
10.  Comprehensive Human Resource Policy

Friends, this Joint  Forum  is actively pursuing  the cause of  officers  and employees interest  with the officials of the Finance ministry at  highest level  specially for  improvement in the Group Mediclaim Policy and  Deletion of TPA from GMC.  It has been assured  by the Ministry that the  whole scheme of the GMC will be reviewed after sometime and Ministry will take up the issue with GIPSA to make suitable amendment.

With greetings,

Sd/- XX XX XX,

SUJIT BAGCHI

GENERAL SECRETARY

N.F.G.I.E.

WAGE REVISION FOR GENERAL INSURANCE EMPLOYEES

The Principal Office bearers of

Check off qualified Unions / Associations of Clas I, Class II & Class III / IV

Dear Sir,

 

We are sending attached herewith a soft copy of letter dated 15.01.2014from CE, GIPSA on the subject which is self-explanatory. A hard copy of the same is sent by convetional mode.

 

It has been decided to convene a meeting of the representatives of check off qualified Unions / Associations with CMDs / GMs (P) of the companies, for initiating exploratory discussions on Wage Revision.  The details of the date, time and venue of the meeting are given below:-

Date	on 29th January, 2014 (Wednesday)
Time	At 10.00 am
Venue	At Hotel Intercontinental, No. 135, Marine Drive, Mumbai – 400 020 Phone - + 91 22 56399999 Fax     - + 91 22 56399600

Kindly refer to the contents of the letter for other details.

 

Thanks and Regards, 

 

 

SPR Lolla

Sr. Vice President, GIPSA

Mobile # 8800447795

All India Banks strike postponed: UFBU

DEAR ALL,

The proposed two-day all-India strike by bank employees from January 20 was on Friday postponed after "positive" crucial bilateral talks between managements and unions on wage revision and other demands, a top office-bearer of United Forum of Bank Unions (UFBU) said.

The conciliation talks between UFBU and Indian Banks Association held in Mumbai moved a step ahead positively after the IBA offered a 9.5 per cent hike on pay slip cost and hold another round of talks on January 27, UFBU national Convenor MV Murali told a news agency here over phone.

"We have been insisting on a 32 per cent hike in wage revision, pending for the last 14 months. Reacting to our demand earlier last month, IBA came up with an offer of five percent hike which we turned down. Now the IBA in the conciliation meeting on Friday made a move forward with an increased offer of 9.5 percent hike," he said.

Murali said the PSU Banks had netted a profit of about Rs 46,000 crore during the last fiscal even after providing about Rs 65,000 crore towards writing off bad loans and provisioning for NPAs.

The offer of only Rs 1,500 crore (5 per cent) for wage revision of 10 lakh employees for next five years was too meager to accept, he added. 

PTI

Wage revision talks: Bank unions may demand 30% pay hike

As the Indian Banks’ Association and the United Forum of Bank Unions return to the negotiating table on Friday at the directive of the Chief Labour Commissioner, the bank unions are likely to demand a 30 per cent rise in gross pay.
Though a wage-revision settlement, to be in force for five years, might still be far away, the outcome at Friday’s bilateral talks will determine if the January 20-21 all-India bank strike will take place.
“If the IBA takes a positive and reasonable approach to our demands, we will call off the 48-hour strike,” UFBU convenor M.V. Murali told Business Line. “But if they keep harping on the old stand, we will go ahead with the strike.”
The bilateral talks are being held at the instance of the Central Chief Labour Commissioner, who held a round of conciliation talks with the two sides on January 13 in New Delhi. The talks on the wage-revision pact were held in view of the unions’ decision to go on with the strike.
The CLC, B.K. Sanwariya, had asked the IBA to advance the bilateral talks, scheduled for January 29, to January. 17. There was an agreement at the tri-partite talks not to drag the wage negotiations on for long and wrap up the process by June.
Asked about the quantum of pay hike the unions would press for at the negotiations, Murali said: “We are asking for a 30 per cent increase in the gross pay received by bank employees and officers.”
He said this was very reasonable in view of the double-digit price rise in the country and increasing workload of the bank staff.
The IBA, which represents the managements of nationalised, private and foreign banks in the country, had offered only a 5 per cent rise in the ‘payslip component’ of salary. “Actually, this will mean about 3 per cent of the gross pay,” Murali rued.

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APPEAL NO.CIC/DS/A/2012/002027 BEFORE CENTRAL INFORMATION COMMISSION, NEW DELHI

Dear Friends,
The following information receive from Mr.K.S.N.Murthy, Vice-President,NFGIE, Representing from Srikakulam DO of New India under Vizag RO:620000. The details are as under:

                                   Appeal No.CIC/DS/A/2012/002027

Appellant/Complainant     :: Shri K.S.N.Murthy,(A.P.)

Public Authority               :: New India Assurance Co.Ltd., Mumbai.
                                             (Shri S.K.DASS, CPIO)
Date of Hearing               :: 08th November, 2013.
Date of Decision             :: 08th November, 2013.

Facts:-
1. Appellant submitted RTI application dated 27 January 2012 before the CPIO, New India Assurance Company Limited, Mumbai seeking details regarding the copy of question paper and Appellant's OMR sheet in the Promotional Exercise Test held on 18-12-2011.
2. CPIO vide order dated 19 March 2012, informed the Appellant that examination was conducted by an independent examination body NIA, Pune and hence information as sought may not be provided.
3. Appellant preferred first Appeal dated 26 March 2012 to the First Appellate Authority.
4. Vie Order dated 29 September 2012, FAA directed the Chief Manager, Corp. HRM to provide complete information within 6 weeks to the Appellant.
5. Being aggrieved and not being satisfied by the above response of he public authority, the appellant preferred second appeal before the Commission. 
6. Matter was heard today via video conferencing. Respondents as above were heard from Mumbai.  Appellant made submission from Srikakulam.  It was submitted by the CPIO, that it had been alleged that there were certain irregularities in conducting the Promotional Exercise Test held on 18 December 2011 in respect of which the appellant had sought informationand that the matter was currently before the double bench of Andhra Pradesh High Court in WP 1121/2012.  It was also stated that the public sector General Insurance Companies are defemdants in this case.  Further, due care had been taken to advise the holder of the information namely,the NIA, Pune not to destroy any of the documents which are sought by the appellant in his RTI application.  Commission was also informed that recently NIA, Pune had declared itself to be a public authority.
                                         Decision Notice

We have heard the parties.  Commission reserves judgement in this matter up to thefinal disposal of the aforementioned Writ Petition by the Court.  Subsequently the CPIO will dispose of the matter in the light of the judgement given in this case.
                                                             Sd/- xx xx xx xx xx,
                                                           ( Smt. Deepak Sandhu )
                                                    Chief Information Commissioner
Authenticated True Copy:
Sd/- xx xx xx xx xx,
(T. K. Mohapatra)
Dy. Secretary & Dy. Registrar
Tel.No.011-26105027

Copy to:-
1. Shri K.S.N. Murthy (AO)
    New India Assurance Company Limited,
    Opp.Surya Mahal, G.T.Road,
    SRIKAKULAM - 532001(Andhra Pradesh)
2. Central Public Information Officer,
    Chief Manager,
    The New India Assurance Company Ltd.,
    Head Office: New India Assurance Building,
    87, M.G.Road, Fort,
    Mumbai - 400 001 (Maharashtra)
3. First Appellate Authority,
    Deputy General Manager,
    The New India Assurance Building,
    87, M.G.Road, Fort,
    Mumbai - 400001 ( Maharashtra)
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...... EDITOR