GeeVee Rajahmundry

Monday, January 23, 2012

INTRODUCTION OF LIC's JEEVAN ANKUR (Plan No.807)

INTRODUCTION OF LIC's JEEVAN ANKUR
(Plan No.807)

Thursday, January 19, 2012

19TH January INSURANCE BUSINESS NATIONALISATION DAY

19^TH January INSURANCE BUSINESS NATIONALISATION DAY

LIC – INSURING INDIA & ENSURING PROGRESS

STRENGTHEN LIC

19^th January is an important day for LIC in particular and the nation in general. It was on this day in 1956, the government promulgated an ordinance nationalizing the life insurance business by amalgamating 245 private insurance companies into a single monolithic corporation i.e. Life Insurance Corporation of India. Thus LIC came into existence on 1^st of September 1956. Since then, the Public Sector LIC has grown from strength to strength and today it has become the “Pride of India”. During the last 56 years LIC has countered many challenging situations. LIC could deftly meet these challenges and could convert them into opportunities for its progress. Thus, LIC’s glorious history has been a saga of success with progress. LIC has today emerged as the largest and most successful premier public sector financial institution. LIC today has become the biggest insurer “insuring India & ensuring progress.”

Today, when we observe LIC nationalization day, we as members of AIIEA must feel proud and happy that the relentless and sustained campaign and struggle which was undertaken by AIIEA forced the government to retreat on the issue of privatization of LIC. AIIEA had placed its scientific and logical arguments before the Standing Committee to convince them on the dangers of the LIC Amendment Bill 2009 if passed. The Standing Committee upheld the arguments of AIIEA and gave a unanimous report recommending the parliament to drop most of the proposals of the union cabinet which otherwise would have been detrimental to the interests of LIC. Moreover, our campaign and struggle on the issue of FDI hike had its effect with the Standing Committee on Finance rejecting the government proposal to increase FDI limits in insurance sector. In a situation where the government day-in and day-out is trying to liberalize the insurance sector, our victory and advancement is by no means a meager one. Our movement has scaled greater heights to record significant gains. This has to be consolidated and it is the responsibility of each and every one of us to be vigilant and step up the campaign to mobilize public opinion in favor of our struggle. Strengthening the public sector LIC on all fronts must be our continuous endeavor.

The Public Sector LIC has met the challenges of competition in the industry successfully and retained its supremacy as an undoubted market leader. As at 30^th November 2011, LIC has a market share of 79.37% in terms of No. of Policies and 73.30% in terms of Premium Income. As at 31^st December 2011, LIC has sold 21660145 policies and mobilized an amount of Rs.17130.56 Crores as First Premium Income. As at 31^st March 2011, LIC has a total Life Fund of Rs.1151200.58 Crores and

total assets worth Rs.1317416.10 Crores. LIC has invested more than Rs.7.5 lakh crores in government securities for development of infrastructure in our country. Apart from this, during the 11^th Five Year Plan, LIC has contributed an amount of Rs.5,28,390 during the first four years and is expected to contribute further more during the last year of the Plan. It is a matter of great pride that 25% of Government’s internal borrowings come from LIC alone. LIC settles 98.53% of the claims reported and during the year ending 31^st March 2011, LIC has settled over 183 lakh claims amounting over Rs.52160 Crores. It is an astonishing fact that LIC settles more than 2 claims per second. It is a matter of great pride and satisfaction to us that IRDA in its recently released annual report for the year 2010-2011 said “LIC IS BETTER THAN PRIVATE FIRMS IN CLAIM SETTLEMENTS”. It also said that the claim settlement ratio of LIC increased to 97.03% when compared to 96.54% during the previous year. It also revealed that the ratio of repudiations to total reported claims declined from 1.21% to 1% in the year 2010-2011. It further said that compared to LIC, the private insurers rejected large number of claims i.e violating the basic concept of insurance. Irony is that in spite of the sterling performance of the LIC, the government is hell bent on weakening public sector LIC. This must be exposed through our campaign.

We are extremely happy that since the time of our Zonal conference held in October 2011, innovative activities have been undertaken at all centers in our Zone to spread the message of AIIEA to garner public support to our cause. More than 111 such activities have been carried out across our zone in a short span of three months. We also appreciate the efforts of Raichur & Hyderabad divisional units for floating new business competitions for agents during this period to help LIC’s business to grow. This gesture, has earned lot of good will for our organization from all quarters. We congratulate all our comrades for organizing various forms of campaign and activities to strengthen LIC.

Comrades, in fine, having contributed for the growth of Public Sector LIC and being successful in thwarting attempts to privatize LIC, it is our collective responsibility to contribute for further strengthening the LIC. 19^th January 2012 should be observed by all our units as “STRENGTHEN PUBLIC SECTOR LIC DAY”. We suggest all our units to have badge wearing, hold gate meetings/ candle light processions/human chain programmes/press meets/pamphlet distribution and other innovative mass contact programme. On that day, we suggest all our units to devise activities to give wide publicity to the role of LIC in nation-building activities The occasion should also be used as a tool to prepare the employees for the ensuing one day strike on 28^th February 2012, as per the call of Central Trade Unions against the neo-liberal policies of the ruling classes.

Let us rededicate ourselves to the cause of public sector insurance and pledge to defeat the nefarious designs of the government to weaken public sector insurance. Let us also join with our units in general insurance in campaigning for the merger of Public Sector General insurance Companies.

LONG LIVE

INSURANCE BUSINESS

NATIONALISATION DAY

Friday, December 30, 2011

SUPERANNUATION OF Com.B.SANYAL

Joint Secretary All India Insurance Employees' Association

Sunday, December 4, 2011

COVER PAGE KARMIKA VAHINI NOVEMBER 2011

KARMIKA VAHINI NOVEMBER 2011

MONTHLY TELUGU BULLETIN OF ANDHRA PRADESH DIVISIONAL UNITS OF

SOUTH CENTRAL ZONE INSURANCE EMPLOYEES FEDERATION

OCCUPY WALL STREET MOVEMENT

Sunday, November 27, 2011

INSURANCE WORKER NOVEMBER 2011

INSURANCE WORKER NOVEMBER 2011

Exciting developments are taking place across the world. What began as a small demonstration by a group of 70 Americans in Wall Street has turned into a global resistance against the inequalities and oppression of the capitalist system. The struggle is still in its infancy. It is too early to guess if the struggle would be satisfied with demanding some structural changes in capitalism or decides to work towards a larger objective. Whatever may be the direction of this movement, it has already shown the world that the power of the people is an unstoppable force of global change.

The Occupy Wall Street movement was inspired by the peaceful occupation of Tahrir square in Cairo. The protestors said that it is no longer possible to tolerate the greed of capitalists; that 99% of the Americans cannot be forced to pay for the sins of 1% of America which continues to live in filthy luxury. Though the movement that began on 17^th September was looked at with skepticism, its steady popularity forced the media to recognize its cause and potential. The New York Times (October 8) had to concede that ‘extreme inequality is the hallmark of dysfunctional economy, dominated by a financial sector that is driven as much by speculation’ and it is this extreme inequality that fuelled the movement. The Occupy Wall Street movement spread far and wide across continents and on 15^th October tens of thousands of people marched across 951 cities in 82 countries demanding an end to the capitalist exploitation and punishing those responsible for the crisis.

The last three decades have indeed been very painful for the working people across the world. The collapse of the Soviet Union and the triumph of Neo-liberalism under Thatcher and Reagan brought tremendous hardship on to the working class. The Neo-liberalism further widened the inequalities in all countries but more so in the United States. It is estimated that 1% of the Americans hold 42 percent of the wealth while the bottom 80 percent is left with just 7% of the wealth. The top 10 percent American holds 90 percent of the income gains while there is a decline in the real wage of the working class in the last 30 years. The richest country in the world ha over 15% of its population living in penury and one in six American is dependent on food coupons. The anger of the ordinary Americans who were made to believe that theirs is a great middle class society is quite understandable. Through their experience they have learnt that the 30 years of Neo-liberalism has been a period of ruthless class war and class exploitation by the rich.

This very ruthless exploitation and greed brought about the crisis in the financial markets in the United States and the industrialized nations in 2008. The Crisis turned into a general crisis of capitalism. The US and the industrialized nations pumped in trillions of dollars to save the failing banks and financial institutions while attacking the jobs and social security of the workers. While the crisis has pushed millions into poverty in these countries, the workers see that the people responsible for bringing about the crisis are rewarded with hefty pay and bonuses. The anger in the circumstances was natural and therefore the Occupy Wall Street movement began with the slogan that those responsible for the crisis should pay for the crisis. The movement is becoming larger by the day with the trade unions of the United States now actively supporting the movement. The trade unions played an important role in mobilization of people on 15^th October in large number of countries.

The Occupy the Wall Street movement has developed a sympathetic chord with the working class of India too. Since 1991 under neo-liberalism India has seen unprecedented transfer of national wealth and assets to the rich. This has resulted in huge increase in inequalities. While the number of dollar billionaires is increasing, more that 40 crore people live below the ridiculous poverty line drawn by the government. It is estimated that the top 50 families in the country control wealth which amounts to nearly 35 percent of the national GDP and ironically India is home to the to the largest number of hungry in the world. Fortunately the Indian working class today has closed ranks to challenge this unbridled exploitation of the poor and the loot of the national resources.

The Occupy Wall Street Movement has inspired a global resistance against the capitalists exploitation. This movement has given new hope and confidence to the working class across the world. Whatever may be the final outcome of the movement, it is clear that capitalism can no longer operate in the manner it has operated so far. One hopes that this movement develops into a real global movement that would demand an end to the capitalist exploitation in the real sense. It is with this hope that we welcome the Occupy Wall Street Movement and urge the Indian working class to join this movement to demand an end to the exploitative social order.