Page 29 - Insurance Times November 2021

understand the genesis of corruption, so as to tackle it more granting them more powers and adequate judicial
specifically rather than holistically. Normally corruption in authority rather than empowering them with vast
our society is perceived to be financial fraud or economic administrative jurisdiction. They need to be more
crime. Actually corruption is much more broader term with accountable and result oriented so that insuring people have
wide ambit and different ramifications. It ranges from faith and develop confidence in such departments of
intellectual corruption to physical corruption, to sexual insurance companies. At the same time, there is a need to
corruption, to moral corruption, to social corruption, to have proper check and balance on their functioning also, so
religious corruption, to ethnic corruption and to very many as not to misuse such departments in office setups for
types of corruption, all having negative implications on settling personal scores and taking unethical vendetta, that
development and progress of our society. Basically corruption is equally common in insurance industry also.
comes in to existence either by need or by greed and both
these modes are directly related with the mindset of an All related agencies in insurance set up, fighting corruption
individual. It is fundamentally connected with moral and must identify the seriousness of this malignancy and establish
ethical values those develop during the upbringing of a a connect with the insuring people for not only to expose
person and society only shapes up such ethos. Ultimately it this menace completely but to generate sufficient
results in to a financial mistake having malafide intentions knowledge about its consequences especially among the
caused for illegal unlawful unethical immoral financial gain uneducated and rural poor availing insurance facilities.
for no reasonable cause at the cost of public exchequer. Officers and their concerned staff associated with vigilance
department, who work with limited manpower resources
Concept of corruption and deficient budgetary funds instead strive for creating
awareness against corruption, need to be highly recognised
Vigilance, only tool of anticorruption, has two ways in
and suitably encouraged. Sufficient examples of discouraging
dealing with the fight against corruption. One aspect is
such front runners in the insurance industry exist, which not
punitive of vigilance that deals with creating much needed
awareness so as to follow thumb rule of " prevention is only reflect unexpected attitude of higher management but
waste public money and in turn conveys the message of
better than cure ". It not only creates fear in the mind of
inefficient governance of insurance corporate to the society.
corrupt due to horrible end results of corruption but also
builds morale against unfair and illegal practices that
ultimately leads to self satisfaction of a person. All actions Role of Public

under this exercise are aimed to create deterrent effect in Role and responsibility of an ordinary employee to create
the mind of a common man that creates sense of discipline vigilance awareness for eradication of corruption menace
and responsibility in him. This approach is purely educative, can not be undermined. It simply needs to be activated and
informative and propulsive in nature. It is very common in channelized properly with the co operation of both higher
insurance industry and has also produced desired results and operational management particularly in an insurance
with little financial burden. organizational setup, rather than to leave it on vigilance
department only.
The other part of vigilance activity is punitive vigilance that
provides punishment after committing the crime or acts of
commission or omission. It is reformative that corrects
human aberrations and serves lesson for others. Having
major drawback that it can be used as a tool for victimization
and vindication, so in practice and discharge of duties, it is
less encouraged to preventive vigilance.

Implementation
Commissions and departments associated with vigilance
must be equipped with complete infrastructure and provided
with well trained and proven honest manpower who are
dedicated towards this vital cause. Stress must be laid on

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