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Sunday, October 2, 2016

Renewal of Group Health Medical Insurance Policy for Employees, 2016-17 only 18 bank already paid

  ALL INDIA BANK EMPLOYEES' ASSOCIATION
Central Office:  “PRABHAT NIVAS”    Regn. No.2037
Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001
Phone: 2535 1522    Fax: 4500 2191,  2535 8853    Web: www.aibea.in
e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com

CIRCULAR LETTER NO. 27/212/2016/45       October, 1, 2016

TO ALL OFFICE BEARERS/ STATE FEDERATIONS /
ALL INDIA BANKWISE ORGANISATIONS

Dear Comrades,
 Reg: Medical Insurance Scheme

We have already forwarded the copy of our letters to IBA dt. 25th, 28th and 29th September, 2016 regarding the premium payable on the Medical Insurance Policy for renewal of the same.  While the hike in premium demanded by the UIIC is on the higher side and it has been unilaterally decided by them and hence the issue must be taken by IBA/Banks with UICC, it is unacceptable that the policy may not be renewed and employees will be kept uncovered.  Hence we had taken up the matter immediately and strongly with the IBA.

We learnt today that about 18 Banks have already paid the premium for renewal.

  1. Andhra Bank
  • Dhanlaxmi Bank Ltd.
  • BNP Paribas
  • Federal Bank
  • Dena Bank
  • Karnataka Bank
  • Indian Overseas Bank
  • South India Bank
  • Bank Of Baroda
  • Karur Vysya Bank Limited
  • Bank Of Maharashtra
  • Nainital Bank Limited
  • Central Bank Of India
  • Ratnakar Bank Ltd
  • United Bank Of India
  • UCO Bank
  • Bank Of America
  • Vijaya Bank

  • IBA has sent their communication to day informing that Banks that if the Policy is not renewed by paying the revised premium, liability on account of hospitalisation claims by employees will have to be honoured by the banks.

    Our units in other Banks should immediately pursue the matter with their management to ensure that the policy is not allowed to lapse and employees do not get uncovered by the benefits of the policy.  
            
    With greetings,
                                                                           Yours comradely,
    C.H. VENKATACHALAM
    GENERAL SECRETARY
    Pto: IBA communication
    INDIAN BANKS ASSOCIATION
    HR & INDUSTRIAL RELATIONS               
    No. CIR/HR&IR/J/2015-16/1169                                     
    October 1, 2016
     Participating Bank of Group Medical Insurance Scheme
     Dear Sir/Madam,
     Renewal of Group Health Medical Insurance Policy for Employees, 2016-17
    We refer to our Circular No. CIR/HR&IR/J/2016-17/1151 dated 28th September 2016, in terms of which participating banks of said Insurance Policy were advised that the United India Insurance Co. Ltd. has not acceded to the request to continue the existing policy at least for one month i.e. up to 31.10.2016 at existing premium rates by paying pro-rata premium for additional one month. As the term of existing policy was expiring on 30.09.2016, the premium for renewal of the policy was to be paid before 1.10.2016 to continue the coverage under the policy. Banks were therefore advised to do the needful accordingly, considering all the aspects. The United India Insurance Co. Ltd. was once again requested to extend the policy term up to 31.10.2016 vide our letter No.HR&IR/ KSC/ XBPS/ J/ 1158 dated 29th September 2016, as the matter is to be discussed in the Managing Committee of IBA in its meeting scheduled to be held on 7.10.2016. However, the Insurance Company has shown their inability to extend the same. 
    2. Keeping in view the fact that the premium rates given by the Insurance Company for renewal of said policy are final from their side and also the consequences to be caused due to non-renewal of the policy on 1.10.2016, following banks have already remitted the insurance premium amount to the United India Insurance Co. Ltd. 
    1
    Andhra Bank
    9
    BNP Paribas
    2
    Bank Of Baroda
    10
    Dhanlaxmi Bank Ltd.
    3
    Bank Of Maharashtra
    11
    The Karur Vysya Bank Limited
    4
    Central Bank Of India
    12
    The Nainital Bank Limited
    5
    Dena Bank
    13
    The Ratnakar Bank Ltd
    6
    Indian Overseas Bank
    14
    Karnataka Bank
    7
    United Bank Of India
    15
    South India Bank
    8
    Bank Of America


    3. In the absence of renewal of the policy, liability on account of hospitalization claims by employees post 30.09.2016 will have to be honoured by banks. Hence, the participating banks are advised to take a considered decision on renewal of the policy without further delay.
     Yours faithfully,
     K UNNIKRISHNAN
    CHIEF EXECUTIVE (OFFG.) 

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