Latest Eye Opener Circular On Insurance

                                                           Ref:2017/104                                                           Date:05.10.2017

    

   The office Bearers/ Central Committee Members/ State Body Chiefs

   A.I.B.R.F

   Dear Comrades,

                   Re: Meeting with IBA on Retiree Issues

AIBRF delegation consisting of General Secretary, Shri S.C.Jain , Deputy General Secretary, Shri Ashok Patil, Vice President, Shri F. Martis and Organising Secretary, Shri Rajan Dhargalkar  met the Chief Executive ,  Shri V.G. Kannan at IBA Office on 04.10.2017 at 4.00 PM and submitted Charter of Demands on pending demands for consideration during the on-going wage negotiation. While accepting the COD, he assured for sympathetic   consideration during the negotiation. He assured to look into our long pending demand of holding discussion with the representatives of AIBRF. During the meeting Senior Advisor (HR) Shri S.K. Kakkar was present.

GROUP INSURANCE POLICY RELATED ISSUES AND SUPER TOP UP INSURANCE POLICY.

During the discussion, we raised the following issues related to group insurance policy for retirees, its renewal premium for 2017-18 and introduction of renewal policy.

1. Very high and disproportionate increase premium for 2017-18 in case of domiciliary option and needs immediate review and  suitable reduction
2. Undue delay in settlement of claims under the scheme by TPA and further long delay in payment of approved claims by the insurance company.
3. Non- issuance of Health Card to large number of retirees.
4. Issue of associate bank retirees for renewal under IBA  scheme for 2017-18
5. Introduction of Super Top Policy by United India Insurance Co and New India Insurance Co.
6. IBA/ Insurance CO. not holding discussion with the representatives of  retirees who are actual users and who bear the cost. This stand  only creates problems and therefore need urgent review by IBA.

   CLARIFICATION BY IBA

   The Chief Executive came out with the following clarification:

1. It was clarified in very  certain term that at no stage insurance related issues  of retirees including renewal premium for 2017-18 have been discussed by IBA with the insurance company/ broking firm so far.
2. Some banks have at their own advising renewal premium and other terms and conditions at their own based  on quote received from insurance company/ broking firm.
3. 
   
4. On Super Top Policy introduced by Untied Insurance Company / K.M Dastur Company, Chief Executive told us in very clear terms that IBA has not approved any Super TOP policy and advised to member banks. Some banks are taking the decision at their level and circulating United India Insurance Company at the instance of its broker. IBA is not party to the scheme.
5. 
   
6. On drawing his attention that it is not fair for public sector banks to circulate and promote Super Top Policy of UIICL which is inferior in terms and conditions and when  better   Super Top policy to retirees are available in the market from superior company. This act of public sector banks is creating confusion among retirees and is likely to put them in disadvantageous position. He agreed to look into this aspect and take appropriate action on it.

The meeting ended in cordial atmosphere and with thanks on behalf of AIBRF  for sparing his valuable time for retirees.

                                                                      Yours Sincerely,

                                                           

                                                                  ( S.C.JAIN)

                                                               GENERAL SECRETARY