Insurance Sector

Introduction

Financial Institution Employee Union of Nepal (FIEUN) is the leading National organization of financial sector. FIEUN Insurance council is an important wing of the National organization which promotes the empowerment of members. Other functions of the council include the coordination of trade union activities. This council would facilitate/provides/ shares the current activities, movement and problems among the insurance sectors which are affecting them. In addition, this council also provides our affiliates with the structure, decision making and sharing of resources for the use of information technology and for the development of our strategies for achieving common goals.

There are 18 Life insurance companies, 20 Non-life Insurance companies and 1 Reinsurance company which are registered under Beema Samiti (Insurance board, Nepal).  12 Insurance companies   have a union out of 39 companies which are affiliated in FIEUN.

Affiliation:

Twelve Insurance company’s union and one regulators employee union are affiliated in FIEUN. This wing is coordinated by vice president of FIEUN. Following employee union are affiliated in FIEUN.

1. FIEUN Rastriya Beema Sansthan
2. FIEUN Rastriya Beema Company
3. Employee Association of Beema Samiti
4. Sagarmatha Insurance Co. Ltd. Employee Union
5. NLG Insurance employee Union
6. Union of National Life Insurance Employee
7. Staff Union of Met Life Nepal
8. Surya Life Insurance Employee Union
9. Asian Life Insurance company Ltd: Independent Employee Union
10. Prime Life Insurance employee Association
11. Everest Insurance Co Employee Union
12. Gurans Life Insurance employee Association

Current Issues

 Recently, Labor Act, 2074 is amended by Nepal Government to address Multi-stake holders.  According to Labour law to amend the company’s bye laws. Proposed Insurance act table to the Parliament and It is one the major issues of Insurance sectors. Some of current issues of Insurance sectors are as follows:

• To Organizing employee union in  remaining Insurance companies
• To  Protecting and promoting Trade union Rights
• To Protect and safe guard the rights of employee
• To promote the understanding and awareness of among affiliates’ members by publishing FIEUN and Insurance sector activities and policies.
• To organize activities, particularly in the areas of education, organizing to strengthen the member unions and the trade union movements as a whole.
• To develop and implement research activities to assist in the formulation of policies and strategies.
• To organize meetings/seminars to exchange experiences and information

 Next Agenda of Insurance sector workers

Union is synergizing force of employees.  Everyone should know the current situation of employee’s rights, responsibilities and protection from Employment.  Without sharing the employee force, there may lack in implementation.

Some of the next agendas are:

1. Provision of current Insurance Act Draft.
2. Provision of Companies employee bylaws draft.
3. Implementation of labor act and regulation accordingly
4. Mitigating insurance sectors employee basic issues.
5. Expanding Insurance Council member into all insurance companies.
6. Planning of training, refreshment program, social dialog