The northern chapter of the All India Insurance Employees Association has raised objections to a current government order issued by the Appointments Committee of the Cabinet approving “revised consolidated tips” for the appointment of Whole-time Directors, Managing Directors, Executive Directors, and Chairpersons in public sector insurance coverage firms, together with the Life Insurance Corporation of India, and the General Insurance Corporation of India.

Rajeev Sehgal, president of the affiliation’s northern zone, on Tuesday (October 14, 2025) stated in assertion that these establishments have been ruled by Acts of the Parliament, together with the Life Insurance Corporation Act, 1956, and the General Insurance Business (Nationalisation) Act, 1972. Public sector insurance coverage firms’ administration constructions, roles, and appointment processes have been clearly outlined in these legal guidelines, the assertion stated. “The issuance of latest tips with out amending the enabling Acts quantities to government overreach, and an undermining of parliamentary authority,” the affiliation stated, including that the transfer strikes on the very ethos of nationalisation, which ensured banking and insurance coverage served public curiosity somewhat than personal revenue.

“The revised tips open the door for larger personal affect and eventual privatisation of those eminently profitable public sector monetary establishments. These would threaten the financial sovereignty of the nation, other than endangering the safety of individuals’s financial savings. Public sector banks and insurance coverage firms have been the spine of inclusive development and social safety,” the assertion stated.

“We demand the speedy withdrawal of the revised tips and urge the federal government to uphold parliamentary procedures, and public possession, and interact in clear session earlier than making any such far-reaching coverage adjustments,” the affiliation stated.

Published – October 14, 2025 05:43 pm IST

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