Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fitri Novia Heriani, IGAP Trisnajaya
On Tuesday (22/1), the House of Representatives (House) held a public hearing session on Insurance Activities Bill (Bill) in order to hear suggestions on the draft of the Bill.
Chairman of Indonesian Insurance and Reinsurance Broker Specialist Association (APARI) Wunwun Maulidi proposed that the Bill should provide a clear distinction between insurance brokers and insurance agents.
The role of insurance brokers is to assist insurance policyholders, while insurance agents represent the interests of insurance companies. As a result, in order to avoid a conflict of interest for insurance brokers, a clear distinction must be drafted.
“This distinction must be established in order to clarify the position of insurance brokers because they represent the interests of policyholders in insurance claims, not those of insurance companies,” Wunwun explained.
Harry Azhar Azis, Deputy of Commission XI of the House, agreed with the proposal. “I think it is logical to stipulate the difference between insurance brokers and insurance agents,” Harry said to hukumonline.
The distinction between insurance brokers and insurance agents would mean that insurance brokers would be independent from insurance companies. Insurance broker companies would be established instead, thus eliminating the conflict of interest in insurance claims handling.
During the same event, Sri Hadiah Wati, Chief Organizer of Indonesian Senior Executive Association (ISEA), stated that Law No. 2 of 1992 on Insurance Activities is obsolete. Insurance Activities regulation must be re-drafted in order to correspond with the developments in the insurance industry.
On another note, Sri proposed that a separate bill on sharia insurance should be drafted because it is based on sharia principles, which are different from the conventional insurance principles.
“Sharia insurance must be regulated in its own regulation, ” said Sri.
Sharia insurance is based on a sharing principle, which means that profits and losses are shared between the insurance company and policyholders. This is not the case in conventional insurance policies. Sri also mentioned that the term “policyholder” in sharia insurance is inappropriate.
“Policy is only for insurance written deed, meanwhile, sharia insurance is not insurance, not transfer of risk, thus sharia insurance is inappropriate to use the word policy,” argued Sri.
Sri concluded that in order to highlight the difference between sharia insurance and conventional insurance, the new law on sharia insurance must be titled “Law on Sharia Risk Management.”
(jt/hot)
Fitri Novia Heriani, IGAP Trisnajaya
On Tuesday (22/1), the House of Representatives (House) held a public hearing session on Insurance Activities Bill (Bill) in order to hear suggestions on the draft of the Bill.
Chairman of Indonesian Insurance and Reinsurance Broker Specialist Association (APARI) Wunwun Maulidi proposed that the Bill should provide a clear distinction between insurance brokers and insurance agents.
The role of insurance brokers is to assist insurance policyholders, while insurance agents represent the interests of insurance companies. As a result, in order to avoid a conflict of interest for insurance brokers, a clear distinction must be drafted.
“This distinction must be established in order to clarify the position of insurance brokers because they represent the interests of policyholders in insurance claims, not those of insurance companies,” Wunwun explained.
Harry Azhar Azis, Deputy of Commission XI of the House, agreed with the proposal. “I think it is logical to stipulate the difference between insurance brokers and insurance agents,” Harry said to hukumonline.
The distinction between insurance brokers and insurance agents would mean that insurance brokers would be independent from insurance companies. Insurance broker companies would be established instead, thus eliminating the conflict of interest in insurance claims handling.
During the same event, Sri Hadiah Wati, Chief Organizer of Indonesian Senior Executive Association (ISEA), stated that Law No. 2 of 1992 on Insurance Activities is obsolete. Insurance Activities regulation must be re-drafted in order to correspond with the developments in the insurance industry.
On another note, Sri proposed that a separate bill on sharia insurance should be drafted because it is based on sharia principles, which are different from the conventional insurance principles.
“Sharia insurance must be regulated in its own regulation, ” said Sri.
Sharia insurance is based on a sharing principle, which means that profits and losses are shared between the insurance company and policyholders. This is not the case in conventional insurance policies. Sri also mentioned that the term “policyholder” in sharia insurance is inappropriate.
“Policy is only for insurance written deed, meanwhile, sharia insurance is not insurance, not transfer of risk, thus sharia insurance is inappropriate to use the word policy,” argued Sri.
Sri concluded that in order to highlight the difference between sharia insurance and conventional insurance, the new law on sharia insurance must be titled “Law on Sharia Risk Management.”
(jt/hot)