KARNATAKA

Insurance employees stage protest

Staff Reporter

BANGALORE: Over 1.5 lakh employees and officers of Life Insurance Corporation of India, National Insurance Company, United India Insurance Company and Oriental Insurance Company staged a nation-wide strike on Tuesday, to protest the two Bills introduced in Parliament to further liberalise the insurance sector.

Criticised

A press release from the All Indian Insurance Employees’ Association (AIIEA) criticised the government for privatising the most successful institutions when governments across the world were nationalising the failed banks and insurance companies.

President of the AIIEA Amanulla Khan in a press release said that the Insurance Laws (Amendment) Bill 2008, if enacted, would seriously harm the national interests.

The claim of the Union Government that by increasing the foreign direct investment in insurance sector, the Indian infrastructure would get a boost, was baseless, the press release said.

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