The General Insurance Agents’ Federation Integrated (GIAFI) has expressed concern over the decreasing commissions for Insurance agents in Public Sector companies besides indifference from the companies.
Speaking to the media here on Saturday, Federation president Rapolu Sudhakar said there was a need to protect self-respect of agents. He said the federation was formed on May 15 this year to fight for hike in commission and uplift careers of insurance agents.
Federation vice-president Ch. Rajyalakshmi said the organisation is an All India Federation of all the four PSU Non-Life Insurance companies. Complaining that the commission for agents has been slashed drastically, she demanded that the Insurance companies at least restore the previous commission rates.
Another leader Balarama Murthy said the private Insurance companies were providing handsome incentives and commissions to their agents. But the scenario was completely opposite for the agents working with Public Sector enterprises, he said, adding that the agents do not have even the facility of medi claim. He said the agents were self-employed and the reduction in their commission thus was discouraging them from the profession.
The federation leaders said their other demands include reimbursement of expenses like conveyance, telephone charges, commission on third party motor vehicle insurance, gratuity, vehicle, housing, child education loan facility and so on.
K.K. Lal, K. Anuradha and Bheemsen Kulkarni and several others were present. (NSS)