{"id":2940,"date":"2021-01-25T08:30:27","date_gmt":"2021-01-25T01:30:27","guid":{"rendered":"http:\/\/ligaasuransi.com\/?p=2940"},"modified":"2024-05-31T15:11:45","modified_gmt":"2024-05-31T08:11:45","slug":"ini-dia-daftar-pojk-dan-seojk-yang-perlu-diikuti-oleh-broker-asuransi-dan-broker-re-asuransi","status":"publish","type":"post","link":"https:\/\/ligaasuransi.com\/en\/ini-dia-daftar-pojk-dan-seojk-yang-perlu-diikuti-oleh-broker-asuransi-dan-broker-re-asuransi\/","title":{"rendered":"Here is a list of POJK and SEOJK that Insurance Brokers and Re-insurance Brokers Need to Follow"},"content":{"rendered":"

Liga Asuransi<\/span><\/a> – Awesome congregation of readers. This time we would like to present the regulations that insurance brokerage companies and reinsurance brokers need to fulfill.\u00a0<\/span><\/p>\n

You need to know that the insurance broker industry is an industry that is full of regulations (highly regulated). Apart from having to fulfill general requirements such as company permits, taxation, employment provisions and several other regulations.\u00a0<\/span><\/p>\n

As an industry under the supervision of the Financial Services Authority (OJK), the insurance broker industry must also comply with the Financial Services Authority Regulations (POJK) and also the Financial Services Authority Circular Letter (SEOJK).\u00a0<\/span><\/p>\n

To date, there are at least 13 POJK and SEOJK related directly or indirectly that must be followed and requirements that must be met by every insurance broker company registered with the OJK.<\/span><\/p>\n

Fulfilling these regulations requires special efforts and relatively large costs so that companies are safe from reprimands and sanctions.\u00a0<\/span><\/p>\n

Below we have written a summary of POJK and SEOJK for the attention of fellow insurance brokers. For complete information, please read the OJK and SEOJK on the ojk.go.id website. If there is additional information that is not in this list, please provide input.<\/span><\/p>\n

This article is presented by LIGASYS, a provider of Integrated Insurance Broking Systems for direct brokers and reinsurance brokers. LIGASYS is very helpful in simplifying the process and creating reports in accordance with regulations. Currently, LIGASYS has been used by several brokerage companies and reinsurance brokers.<\/span><\/p>\n

For more complete information about LIGASYS contact Jamil General Manager on 08129616310, 081286300922 and email muhamad.jamil@ligasys.co.id\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

LIST OF POJK AND SEOJK FOR INSURANCE BROKER AND INSURANCE BROKER<\/i><\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
No.<\/b><\/td>\nNo. POJK\/SEOJK<\/b><\/td>\nAbout<\/b><\/td>\nImportant Duties and Obligations<\/b><\/td>\n<\/tr>\n
1<\/span><\/td>\n68 \/POJK.05\/2016<\/span><\/td>\nBusiness and institutional licensing for insurance brokerage companies, reinsurance brokerage companies and loss assessment companies\u00a0<\/span><\/td>\nCapital<\/span><\/p>\n

Article 6<\/span><\/p>\n

    \n
  1. Insurance Brokerage Companies must have Paid-in Capital at the time of establishment of at least IDR 3,000,000,000.00 (three billion rupiah)<\/span><\/li>\n
  2. Reinsurance Broker Companies must have Paid-in Capital at the time of establishment of at least IDR 5,000,000,000.00 (five billion rupiah).<\/span><\/li>\n<\/ol>\n

    Article 14<\/span><\/p>\n

      \n
    1. Members of the Board of Directors of Insurance Brokerage Companies and Reinsurance Brokerage Companies are required to have a brokerage certificate with a level of at least 1 (one) level below the highest qualification from the Professional Certification Institute in the insurance sector.<\/span><\/li>\n
    2. Members of the Board of Directors of an Insurance Loss Appraisal Company are required to have an insurance loss appraisal expert certificate with a level of at least 1 (one) level below the highest qualification from the Professional Certification Institute in the insurance sector.<\/span><\/li>\n
    3. Further provisions regarding certification for<\/span><\/li>\n<\/ol>\n

      members of the Board of Directors as referred to in paragraph (1) and paragraph (2) are regulated in the OJK Circular Letter.<\/span><\/td>\n<\/tr>\n

2<\/span><\/td>\n70 \/POJK.05\/2016<\/span><\/td>\nConcerning the Business Operations of Insurance Broker Companies, Reinsurance Broker Companies, and loss assessment companies\u00a0<\/span><\/td>\nArticle 5<\/span><\/p>\n
    \n
  1. Insurance Broker Companies are obliged to hand over premiums or contributions received from policy holders, insureds or participants to Insurance Companies or Sharia Insurance Companies no later than 30 (thirty) working days from the time the premiums or contributions are received or according to the premium or contribution payment period specified in The relevant insurance policy, whichever is shorter.<\/span><\/li>\n
  2. In the event that the Insurance Broker Company has not submitted premium payments or contributions to the Insurance Company or Sharia Insurance Company after the end of the period as intended in paragraph (1), the Insurance Broker Company must be responsible for the payment of claims or benefits that arise.<\/span><\/li>\n
  3. In the event that the Insurance Broker Company 3 submits premiums or contributions to the Insurance Company or Sharia Insurance Company after the period as intended in paragraph (1) ends and there is no cancellation from the Insurance Company or Sharia Insurance Company within a period of 3 (three) working days, it is the responsibility Responsibility for payment of claims or benefits that arise is transferred from the Insurance Broker Company to the Insurance Company or Sharia Insurance Company since the premium or contribution is received by the Insurance Company or Sharia Insurance Company.<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
3<\/span><\/td>\n55 \/POJK.05\/2017<\/span><\/td>\nInsurance Company Periodic Reports<\/span><\/td>\nPeriodic Reports for Insurance Brokerage Companies and Companies<\/span><\/p>\n

Reinsurance Brokers are divided into the following report types:<\/span><\/p>\n

a. Semester Report; And<\/span><\/p>\n

b. Annual report.<\/span><\/td>\n<\/tr>\n

4<\/span><\/td>\n73\/POJK.05\/2016<\/span><\/td>\nCorporate Governance for Insurance Companies<\/span><\/td>\n\n
    \n
  1. Insurance Brokerage Companies and Reinsurance Brokerage Companies are required to have at least 2 (two) members of the Board of Directors<\/span><\/li>\n
  2. Insurance Brokerage Companies and Reinsurance Brokerage Companies are required to have at least 2 (two) members of the Board of Commissioners.<\/span><\/li>\n
  3. Members of the Board of Directors of an Insurance Company are prohibited from holding concurrent positions in other companies except as members of the Board of Commissioners in 1 (one) other Insurance Company which has a different business field. Do not include holding concurrent positions as intended in paragraph (1) if members of the Board of Directors other than the main director are responsible regarding supervision of investments in subsidiaries, carrying out functional duties as a member of the Board of Commissioners in subsidiaries controlled by the Insurance Company, as long as the dual position does not result in the person concerned neglecting the implementation of their duties and authority as a member of the Board of Directors of the Insurance Company<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
5<\/span><\/td>\n35 \/POJK.05\/2016<\/span><\/td>\nProcedures for determining written orders in the insurance sector\u00a0<\/span><\/td>\nArticle 5<\/span><\/p>\n

Without reducing the criminal provisions as regulated in Article 53 and Article 54 of Law Number 21 of 2011 concerning the Financial Services Authority, OJK has the authority to determine administrative sanctions against<\/span><\/p>\n

parties who violate the provisions in Article 3 of this OJK Regulation are:<\/span><\/p>\n

    \n
  1. written warning;<\/span><\/li>\n
  2. restrictions on business activities, for some or all business activities;<\/span><\/li>\n
  3. prohibition on marketing insurance products or sharia insurance products for certain business lines;<\/span><\/li>\n
  4. revocation of business license;<\/span><\/li>\n
  5. cancellation of registration statements for insurance brokers, reinsurance brokers, insurance agents, actuarial consultants, public accountants, appraisers, or other parties who provide services to Insurance Companies;<\/span><\/li>\n
  6. cancellation of approval for mediation institutions or associations; and\/or<\/span><\/li>\n
  7. Prohibition from being a shareholder, controller, director, board of commissioners, sharia supervisory board, or holding an executive position under the board of directors for a maximum of 10 (ten) years in an insurance company.<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
6<\/span><\/td>\n39 \/POJK.05\/2015<\/span><\/td>\nImplementation of anti-money laundering programs and prevention of terrorism financing by financial service providers in the non-bank financial industry sector\u00a0<\/span><\/td>\nSection 2<\/span><\/p>\n
    \n
  1. PJK is obliged to implement APU and PPT programs.<\/span><\/li>\n
  2. In order to implement the APU and PPT program as intended in paragraph (1), PJK is required to have guidelines for implementing the APU and PPT program.<\/span><\/li>\n
  3. The APU and PPT programs are part of the overall implementation of PJK risk management.<\/span><\/li>\n
  4. The implementation of the APU and PPT program as intended in paragraph (1) includes at least:<\/span><\/li>\n<\/ol>\n
      \n
    1. active supervision of the Board of Directors and Board of Commissioners;<\/span><\/li>\n
    2. policies and procedures;<\/span><\/li>\n
    3. internal control;<\/span><\/li>\n
    4. management information System; And<\/span><\/li>\n
    5. human resources and training.<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
7<\/span><\/td>\n2\/BOYS.05\/2014<\/span><\/td>\nGood insurance company governance for insurance companies\u00a0<\/span><\/td>\nArticle 4\u00a0<\/span><\/p>\n
    \n
  1. Insurance Companies are obliged to implement the principles of Good Corporate Governance as intended in Article 2, in all their business activities at all levels or levels of the organization.<\/span><\/li>\n
  2. Implementation of the principles of Good Corporate Governance as intended in paragraph (1) must at least be realized in:<\/span><\/li>\n<\/ol>\n
      \n
    1. implementation of the duties and responsibilities of the Board of Directors and Board of Commissioners;<\/span><\/li>\n
    2. implementation of the duties of work units and committees that carry out the internal control function of the Insurance Company;<\/span><\/li>\n
    3. implementation of compliance functions, internal auditors and external auditors;<\/span><\/li>\n
    4. implementation of risk management, including internal control systems;<\/span><\/li>\n
    5. \u00a0implementation of remuneration policies;<\/span><\/li>\n
    6. Insurance Company strategic plans;<\/span><\/li>\n
    7. transparency of the insurance company’s financial and non-financial conditions.<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
8<\/span><\/td>\n4\/BOYS.05\/2013<\/span><\/td>\nFit and Conformity Assessment for Main Parties in Insurance Companies, pension funds, finance companies, and guarantee companies\u00a0<\/span><\/td>\nSection 2<\/span><\/p>\n
    \n
  1. A fit and proper test is carried out by OJK on parties who manage, supervise, and\/or have significant influence on Insurance Companies, Pension Funds, Financing Companies, or Guarantee Companies.<\/span><\/li>\n
  2. The parties as intended in paragraph (1), hereinafter referred to as the Main Party, include:<\/span><\/li>\n<\/ol>\n
      \n
    1. member of the Board of Directors;<\/span><\/li>\n
    2. members of the Board of Commissioners;<\/span><\/li>\n
    3. member of the Sharia Supervisory Board;<\/span><\/li>\n
    4. members of the Member Representative Body;<\/span><\/li>\n
    5. Operating Shareholders;<\/span><\/li>\n
    6. Member Energy; or<\/span><\/li>\n
    7. Foreign Workforce.<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
9<\/span><\/td>\n3 \/SEOJK.05\/2018<\/span><\/td>\nForm and composition of periodic reports of insurance broker companies, reinsurance broker companies and insurance loss assessment companies\u00a0<\/span><\/td>\n\n
    \n
  1. Periodic Reports of Insurance Brokers and Companies<\/span><\/li>\n
  2. Reinsurance Brokers consist of:<\/span><\/li>\n<\/ol>\n
      \n
    1. Semester Report; And<\/span><\/li>\n
    2. Annual report.<\/span><\/li>\n<\/ol>\n
        \n
      1. Insurance Loss Appraisal Company Periodic Report in the form of an Annual Report.<\/span><\/li>\n<\/ol>\n

        Annual Report as intended in number 1 letter b for Insurance Broker Companies and Reinsurance Broker Companies and Annual Report as intended in number 2 for<\/span><\/p>\n

        The Insurance Loss Assessment Company consists of:<\/span><\/p>\n

          \n
        1. financial aspect; And<\/span><\/li>\n
        2. \u00a0management aspect<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n
10<\/span><\/td>\n6 \/SEOJK.05\/2017<\/span><\/td>\nDetermination of premium or contribution rates for property and motor vehicle business lines in 2017<\/span><\/td>\nAccording to the rates that have been used to date\u00a0<\/span><\/td>\n<\/tr>\n
11<\/span><\/td>\n38\/BOYS.05\/2020<\/span><\/td>\nData storage\u00a0<\/span><\/td>\n1. The company must store documents in hard-copy form<\/span><\/p>\n

Licensing and Approval documents that have been submitted via<\/span><\/p>\n

Financial Services Authority data communication network system during<\/span><\/p>\n

These permits and approvals are still valid.<\/span><\/p>\n

2. The company must store documents in hard-copy form<\/span><\/p>\n

Reporting documents that have been submitted via the network system<\/span><\/p>\n

Financial Services Authority data communications within the longest period of time<\/span><\/p>\n

short 5 (five) years from the Reporting date.<\/span><\/p>\n

3. The Financial Services Authority can carry out verification and\/or<\/span><\/p>\n

validation of the truth and fairness of documents in printed form<\/span><\/p>\n

(hard copy) application for Licensing, Approval and Reporting<\/span><\/p>\n

has been delivered by the Company via a network system<\/span><\/p>\n

Financial Services Authority data communications.<\/span><\/td>\n<\/tr>\n

12<\/span><\/td>\n9 \/SEOJK.05\/2018<\/span><\/td>\nApplication for licensing, approval and reporting, electronically, from insurance broker companies, reinsurance broker companies and insurance loss assessment companies\u00a0<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
13<\/span><\/td>\n18\/SEOJK.05\/2014<\/span><\/td>\nReport on the implementation of good corporate governance for insurance broker companies, insurance broker companies and insurance loss assessment companies\u00a0<\/span><\/td>\n\n
    \n
  1. Companies are required to prepare a report on the implementation of Good Corporate Governance at the end of each financial year.<\/span><\/li>\n
  2. The report on the implementation of Good Corporate Governance as referred to in number 1 consists of at least:<\/span><\/li>\n<\/ol>\n
      \n
    1. transparency in the implementation of Good Corporate Governance;<\/span><\/li>\n
    2. self-assessment regarding the implementation of Good Corporate Governance; And<\/span><\/li>\n
    3. action plan<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      \u00a0<\/span><\/p>\n

      Presented by<\/span> LIGASYS – Integrated Insurance Broking System Provider<\/b><\/a><\/p>","protected":false},"excerpt":{"rendered":"

      Liga Asuransi – Awesome congregation of readers. This time we would like to present the regulations that insurance brokerage companies and reinsurance brokers need to fulfill.\u00a0 You need to know that the insurance broker industry is an industry that is full of regulations (highly regulated). Apart from having to fulfill general requirements such as company […]<\/p>\n","protected":false},"author":2,"featured_media":2854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[104,326,336,361,362,475],"class_list":{"0":"post-2940","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-khabar-ojk","8":"tag-asuransi","9":"tag-broker-asuransi","10":"tag-broker-reasuransi","11":"tag-daftar-pojk","12":"tag-daftar-seojk","13":"tag-ligasys"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/2940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/comments?post=2940"}],"version-history":[{"count":1,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/2940\/revisions"}],"predecessor-version":[{"id":5929,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/2940\/revisions\/5929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media\/2854"}],"wp:attachment":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media?parent=2940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/categories?post=2940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/tags?post=2940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}