Employees of Life Insurance Corporation (LIC) and General Insurance Corporation (GIC) affiliated to the All India Insurance Employees Association resorted to a one-day strike on Monday to protest against the Insurance Bill. Class III and Class IV employees of the insurance behemoths took part in the strike. The striking employees wanted the Insurance Bill to be withdrawn as it would allow more foreign players to enter Indian market. The bill would eventually destroy the functioning of the LIC and enable foreign players to make huge profits from the savings of the people, they said. A section of employees led by A.Arivukadal, joint secretary, Insurance Corporation Employees Union, Thanjavur division, staged a demonstration in the city on Monday.
