Wednesday 19 November 2014

Parliament Agrees Insurance Bill

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Parliament Agrees Insurance Bill

After a long and laborious process , Commission XI finally agreed on the discussion draft legislation ( Bill ) of Insurance prior to President Susilo Bambang Yudhoyono ( SBY ) expires on October 20 , 2014. Discussion of this agreement ready to be taken to the second level to be able to passed into law in Meetings plenary .

The agreement diketok after listening to the views of mini fraction of the Insurance Business Meeting of the bill in the Parliament Building , Jakarta , Monday ( 09/15/2014 ) .

This meeting was attended by the Minister of Finance Chatib Basri , Secretary of the Ministry of State Owned Enterprises ( SOEs ) Imam Apriyanto Putro , Chief Executive Non- Bank Supervisory Industry Financial Services Authority ( FSA ) and other Firdaus Djaelani .

Democratic faction , Hanura , Golkar , Gerindra , the Indonesian Democratic Party of Struggle ( PDI-P ) , the National Awakening Party ( PKB ) , the Prosperous Justice Party ( PKS ) , the National Mandate Party ( PAN ) entirely approve of the Insurance Bill . However, some fractions give notes .

One of them came from Golkar records submitted by the Member of the Commission XI , Kamaruddin Sjam . According to him , the rules on insurance is very important to raise and maintain the continuity of the development of Indonesia.

" It is expected that this legal umbrella Indonesian insurance industry can grow and thrive , healthy and responsible , " said Kamaruddin .

She gives some notes , among others :

1. In the legal entity has agreed some form of insurance industry , which is a limited liability company ( PT ) , Cooperative .

2. Restrictions on foreign capital . The Government and the FSA should regulate the ownership of foreign capital in the insurance Indonesia . However, its implementation must consult the Parliament in order to determine the development of foreign capital . and to the FSA to determine the domestic capital

3. Compulsory insurance for motor and protection of the population such cars

4. Consumer protection policy holders

has contributed to the insurance agent . Since then , the insurance period applies .

5. In other consumer protection rights that are not able to be given insurance , assisted the FSA

With the consent and agreement in Parliament , Finance Minister Chatib Basri claimed would prepare the implementation of the rules of the Insurance Bill . " We will soon be setting up the rules necessary for the implementation of the bill , " he closed .

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