People's Democracy

Insurance Agents Hold ‘March To Parliament’

THE All India General Insurance Agents’ Association organised a ‘March to Parliament’ on December 17 against granting of licenses to corporate agents, brokers, third party agents (TPAs) and banks in general insurance industry. The Association highlighted that these measures will lead to throwing of the nearly 6 lakh individual working agents in the industry.

The protesting agents marched from Ram Lila maidan to Jantar Mantar, Parliament Street in a procession shouting slogans against the government. At Jantar Mantar, the procession culminated into a dharna, which was addressed among others by CPI(M) Polit Bureau member Sitaram Yechury, CITU general secretary, Chittabrata Majumdar, CPI(M) leader in Lok Sabha Basudev Acharia, and CPI(M) MP Sunil Khan, Forward Bloc leader G Devarajan, DYFI president and general secretary K N Balagopal and Tapas Sinha respectively. The meeting was presided over by Association president Debasis Guha.

It was underlined by the organisers of the protest that this tie-up of insurance companies with banks, corporate houses for selling of insurance products would not improve customer service in any significant manner while leading to the unemployment of the nearly 6 lakh existing individual working agents in general insurance industry in India. It would simply be transfer of existing commission from individual agents to corporates and banks, they said.

The demonstration underlined that the government must keep in mind the fact of so many lakhs of people who are earning  their livelihood from this profession will lose their jobs.

The Association made the following demands to protect the interest of the agents’:

• Immediate withdrawal of licenses granted to corporate agents, brokers and bancassurance and TPA.

• Provide 15 per cent commission on all business/premiums

• Guarantee of employment and social security to all agents

• Stop special discount on premiums in lieu of agency commission

• Provide representation for agents in Insurance Regulatory Development Authority

• Implement a uniform commission structure

• Improve customer service by opening customer care cells.

G G Ghosh, Ashoke Dey, Manas Dhal and Rajendra Gupta led the ‘March to Parliament’ from Ramlila Maidan to Jantar Mantar.

(INN)