The Hindu Business Line : LIC development officers to surrender vehicles from Dec 1

The development officers (DOs) of Life Insurance Corporation of India (LIC) throughout India will be surrendering their conveyance vehicles on December 1, to protest the betrayal of their interest by the management and to draw the attention of Parliamentarians to their plight during the winter session.

The trigger is the circular issued unilaterally by the management on October 6, withdrawing the payment of all functional expenses to the cadre, cutting drastically the incentive bonus for DOs and scrapping the additional conveyance allowance, paralysing their field activity.

There are 20,000 DOs throughout the country, with 11 lakh agents under them. They are aggrieved that the management has resorted to this move even while the sixth round of talks is on with their only association, the National Federation of Insurance Field Workers of India (NFIFWI).

Speaking to the presspersons, the All India Joint Secretary, Mr Uttam Jagdane, and the South Zone Secretary, Mr K.R. Rajagopal, said that they had been forced to take the decision as the management is insensitive to their plight despite representation.

The cut in the bonus that was part of the salary worked out to 50 to 80 per cent at different levels. There is, in addition, a service tax on agency commission.

Further, there is a move to change the regulations concerning the agents who work under the DOs. "We are afraid that the management's moves at present are to destabilise the market force and to indirectly help the private players in the field to improve their position in the market. There seems to be an organised and systematic move by vested interests to destroy the public sector giant," they alleged.

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