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L.N. Revathy

Coimbatore , Feb. 25

PEEVED by the lethargic attitude of the Government in resolving their wage issue pending since August 2002 among others, the National Confederation of General Insurance Officers' Associations have called for a nationwide strike on March 23 and 24.

The working president of CONFED, Mr T.S. Par Oli, told Business Line that the association sought an increase of 16 per cent. The General Insurance Public Sector Association had, in its last meeting held during November 2004 offered an increase of 8.5 per cent, which was rejected by the unions.

"All the four public sector insurance companies have made substantial underwriting profit during 2004. Over 8,000 employees and officers exited under the special voluntary retirement scheme and recruitments have been halted. The promotions have been unduly delayed. It is unfair to keep all the issues pending," he said.

He attributed the decline in the market share to the lack of aggressive marketing. `Detariffing' would, according to Mr Par Ol,i ensure a level playing field with their competitors in the private sector.

Reverting to the current trend of closure of outfits (offices), he said, "These are knee-jerk reactions and would do more harm than good."

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