GIC to meet select panel on insurance tomorrow

The General Insurance Council (GIC), comprising private sector players and state-owned general insurers, will meet the select committee of Parliament on the controversial Insurance Bill to put across its views and suggestions on the bill in New Delhi tomorrow.
The bill, which proposes to hike the FDI limit in the insurance sector to 49 per cent, has been caught in a logjam with the Congress-led opposition insisting that it be referred to a select committee.
"GIC members will be meeting the select committee tomorrow in New Delhi to submit its (GIC's) view on the Insurance Amendment Bill," GIC Secretary General R Chandrasekaran told PTI here today.

The first meeting of the panel was held in New Delhi on September 4 and further meetings are slated for September 19 and 26.
The panel, headed by journalist and BJP MP Chandan Mitra, comprises Mukhtar Abbas Naqvi and Jagat Prakash Nadda (all BJP), Anand Sharma, B K Hariprasad and JD Seelam (all Cong), Satish Chandra Misra (BSP), K C Tyagi (JD-U), Derek O'Brien (TMC), V Maitreyan (AIADMK), Naresh Gujral (SAD), Ram Gopal Yadav (SP), Kalpataru Das (BJD), P Rajiv (CPI-M) and Rajiv Chandrasekhar (Ind).
Mitra had earlier said that the committee will be submitting its report by the third week of November.

"We are going to meet the members of the select committee to give our view on the Insurance Bill on Friday, New India Assurance CMD G Srinivasan said.