Jiwasraya Default: Govt Set to Establish Agency to Insure Policie
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14 January 2020 00:11 WIB
TEMPO.CO, Jakarta - Deputy Finance Minister Suahasil Nazara said that the government continues to prepare to establish an agency that can act as a guarantor for insurance policies Insurance Agency. Suahasil said that the establishment of such institution is mandated by the Insurance Law.
"We continue to make preparations to design the policy guarantor," Suahasil said at the Supreme Court Building in Jakarta, Monday, January 13, 2020.
Suahasil said that the establishment of the institution must be carried out by issuing a new law. The new law, Suahasil said, is a homework for the government that also requires coordination with the House of Representatives (DPR) in the context of agreement.
"The point is, the insurance law was issued in 2014. And it stipulates a mandate to establish an insurance policy guarantor," Suahasil explained.
The discourse resurfaced following the default of Asuransi Jiwasraya. The establishment of an insurance policy guarantor had also been suggested by MPR Speaker Bambang Soesatyo, citing its vital role in protecting the people's money invested in insurance plans.
To date, Indonesia has yet to have its own insurance policy guarantor institution.
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