The Big Picture: Changes in general insurance business bill

In this episode of The Big Picture based on Changes in general insurance business bill. Lok Sabha on Monday passed the General Insurance Business (Nationalisation) Amendment Bill, 2021. The Bill seeks to amend the General Insurance Business (Nationalisation) Act, 1972. The Act was enacted to nationalise all private companies undertaking general insurance business in India. The Bill seeks to provide for a greater private sector participation in the public sector insurance companies regulated under the Act. The 1972 Act requires that shareholding of the central government in the specified insurers must be at least 51%. The 2021 Amendment Bill removes this provision. Besides, there are certain other amendments as well related to change in the definition of general insurance business, transfer of control from the govt, and liabilities of directors.

Guests:
1. Kapil Mehta, Co-Founder, Secure Now Insurance Broker Pvt. Ltd.
2. Sidhartha, National Economic Editor, TOI

Anchor: Teena jha

Producer: Sagheer Ahmad

[mlnprasad]

Rude shock to employees n pensioners. This government failed in finance sector. Privatising Vizag steel another blunder. Need to protest strongly

[amodjp]

It's obvious that privatization is not for charity, what no of rural population will get the cover

[alishahrustum]

plz. call those experts who have proper full depth knowledge on the topics plz. this is a request from us especially students. don't lose the credibility of the big-picture.

[alokgupta]

What they both says are totally wrong, first thing almost all GENERAL insurance companies have underwriting losses except may be one or two, second thing most sold products pricing are regulated by tarrif and PSU have less price for retail customers, third, technology wise we are not lesser, you can renew or buy maximum of our policies from website, paytm, policy bazar etc; even employees of the company has been provided set up that they can do their work from home of any kind, and last but not least maximum loss contributed by goverment business, which private insurance companies does not show intrest, because they know their would gives losses, you can easily verify all my statement from companies , GIC and IRDA website

[mlnprasad]

Privatising only to clear debts. Somebody can enlighten us whether any PSB located in Gujarat is privatised

[sudhirmalik]

First petrol now insurance… he is hell bent on screwing common man

[abhishu]

Either it is my expectations which is rising or the otherway round. The discussion was good but the insights was missing. Well coordinated ma'am.

[laxmiukkali]

Teena ma'am ur voice is clear bt others voice is like little bit, , can you please make other persons voice be clear in all the big picture videos..🙏

[chethanms]

Govt company has physical presence across all corners of the country. Has infrastructure, man power, technology and serving uneducated mass in rural. From past 20 yrs not even one Pvt company has physical presence across rural areas of country. And private company is serving urban mass and neglecting rural as its not profitable to them.
Now govt want to gift these resources to Pvt. So Pvt ll get without effort all these resources may be without paying completely for it as govt ll again giv loan from the govt banks. Finally these Pvt entity ll target profit neglect rural business rural ppl.
Instead of these govt could hav brought strict measures to make public sector companies work efficiently.

[ashimabansal]

Did govt explained what they are going to do with the money they’ll earn from this? No, because it’ll go to their election campaigns, it will be utilised for their own use and not for the benefit of the public. Atleast PSU insurers are using the money of the public to help the public only and not to fund their election campaigns.

[krishnashivaji]

What is going to happen to the people of rural and mofussil people.? We can hardly find a Private Company in these areas. While my private banker is requiring 5 digits as Avg Daily Balance., is this the same going to happen with insurance too??

[abdulqadirmnnitallahabad]

IS RAJYSABHA TV OWNED BY CENTRAL GOVERNMENT ? THEY ALWAYS DEFEND THEM ..

[chakrapaniveeraraghavan]

If at all they will merge the four PSU insurance companies into one 🙏🙏🙏

[VijaySingh-zpke]

Don't got time to mince words so here's how it is - guests are trash.

Still kept watching just coz it's TBP. Please, from students to generally curious people turn up for your show. Please don't ruin their valuable time and trust.

[amankumarkanth]

Has discussion today been renamed as The Big Picture?

[amodjp]

The health insurance should be a part of life insurance since they are connected with human life, general insurance is good for property only

[pabankumar]

Mr pas koe aaya nhe ab gr ja rha ho aanndbehar bsada s bs pkdg

[sowminiramanan]

Good decision by bjp govt please speed up the process

[aknt]

Good decision.. Becho insurance companies.. Kisi kaam ke nahi hai.. Yae sarkari company..