Fast Train Project Jakarta - Bandung Borne By Jasindo Insurance

TEMPO.CO, Jakarta - PT Asuransi Jasa Indonesia (Persero) becomes one of the general insurance companies that provide risk loss protection in the Jakarta - Bandung fast train project. It is guaranteed by CAR (Construction All Risks) policy. Warranties cover material damage caused by natural disasters and third-party losses from work of the project.

Jasindo Corporate Secretary Yuko Gunawan said that Jasindo is the chairman of the co-insurance scheme of the Jakarta - Bandung fast train project. There are six members, which consists of state-owned and private insurance companies.

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“One of them is Askrindo. A large private insurance company has also been included in it,” he said, Monday, March 5.

As co-insurance chairman, Jasindo gains a dominant share with less than 50 percent portion. Meanwhile, six other insurance companies receive a various portion from less than ten percent to a dozen percent.

Yuko said the appointment of Jasindo as co-insurance chairman after going through a tender process in October-November. Although it cannot mention the insurance coverage and potential premiums, according to him, the average premium in onshore construction projects is approximately less than 0.5 percent of project value.

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“We are still benefited from the state-owned companies, besides, the financial strength of the company is good. From the insured side, it needs comfort from the risk side, they want to be covered by companies that have a good financial ability,” he added.

Known earlier, the cost of the Jakarta - Bandung fast train project is mentioned to increase from around Rp80.3 trillion to around Rp82.7 trillion. The Rp2 trillion addition is to finance the insurance during the process. Minister of Transportation Budi Karya Sumadi said the fast train project could start this month.

BISNIS.COM