New Delhi: All India General Insurance Agents Association on Monday staged a Peaceful Dharana Protest at Jantar Mantar, New Delhi against the financial insecurity intentionally created by the management of four PSU company.
All India General Insurance Agents Association is seeking the premium quotation from four public sector general insurance Company regarding the group mediclaim policy of all our agent mass through association.
Speaking to Ten News, Manas Kumar Dhal, National President, All India Committee C/o ltd, Jaipur said,
“Our premium contribution is 70 percent but in response no facilities to agents have given by the above four general insurance company . When IRDA enhanced 50% in motor third party premium but still our commission remain negligible, considering the enhancement of motor third party premium, showing reason of unnecessary loss. Agents in the general insurance industry are being given a step motherly treatment in comparison to their counterparts in the life insurance sector. Reason being non life sector is a loss prone sector.But the loss occur not due to the agents, but due to faulty management of the portfolio by the men in management 8 also due to a large number of false 8 fabricated claims, filled in the motor accident claim tribunals.”
He further said, “Whilst on this I would like to remind you all about the commission structure in the Non-Iife insurance sector even offer nationalization in the year 1973 commission was 15 percent and the maximum was 35 percent in all types of businesses comission was payable including Motor Third Party insurance or which is called liability only insurance now a days.”
