Tiruchirapalli, Jun 9 (UNI) The Madurai Division of the All India Insurance Employees' Association has urged the Centre to bring all public sector general insurance companies under one umbrella for achieving the social obligations of the insurance concept as per the Malhotra Committee recommendations.
In a memorandum to the Union Government, a copy of which was released to the press here today, the association said four major insurance companies-- United India Insurance Company, National Insurance Company, Oriental Insurance Company and the New India Assurance Company-- should be integrated for floating a common insurance company.
As majority of the private sector insurance companies were profit-oriented, common people were deprived of certain basic services like 'Third Party' insurance and Health insurance programmes, they said.
The committee on public sector undertaking headed by Mr Malhotra had strongly advocated the need for integrating the public sector general insurance companies, the memorandum pointed out.
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