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OJK ENCOURAGE THE GROWTH OF INSURANCE
November 30th 2011
 

Ratification Law Financial Services Authority (OJK) by the House of Representatives (DPR) welcomed many parties. However, the General Insurance Association of Indonesia (AAUI), expects that the establishment of OJK is that they would not burdensome premiums or the cost of the insurance industry's contribution to the OJK. The establishment of OJK showed the concern of government or regulatory agency, supervisors and regulators will be the greater of the insurance industry in Indonesia, both in quality and quantity. It gives the big effect to the insurance in Indonesia. It is argued, there should be representatives from the national insurance industry in the OJK, who understand the ins and outs of the insurance industry.

OJK addition, Government will establish Insurance Agency Policy (LPP) that begins prepare the regulation, published in 2012. It gives a very positive impact the development of the insurance industry in Indonesia because of increasing the public confidence and the policyholder to the insurance industry.

The Implementation of International Financial Report Standards (IFRS) will go into effect in 2012 and the preparation of financial statements will change and adjustment. In some insurance companies, is expected to experience considerable adjustment in the calculation of assets. (Hukumonline 30 November 2011)

 
 
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16/08/2013
Revision of the Minister of Agriculture Regulation No. 26/2007 regarding Plantation Business Permit
05/07/2013
LexRegis Trip to Pari Island
18/06/2013
Seven Important Points of BKPM Regulation No. 5/2013
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