understanding InsuranceThe primary function of insurance is a mechanism to transfer risk (risk transfer mechanism), which transfer risk from one party (the insured) to another party (the insurer). The transfer of risk does not mean eliminating the possibility of misfortune, but the insurer to provide financial security (financial security) and tranquility (peace of mind) for the insured. In return, the insured pays the premium in a very small number when compared with the potential losses that may be suffered (Morton: 1999).Basically, the insurance policy is a contract that is a valid agreement between the insurer (in this case the insurance company) with the insured, where the insurer is willing to bear some losses that may arise in the future in return for payment (premium) certain of the insured.According to Law No. 2 In 1992, the definition of an insurance or coverage is an agreement between two or more parties, with which the guarantor is binding on the insured, to receive insurance premiums to provide reimbursement to the insured for the loss, damage or loss of expected profit, or legal liability to third parties which may be suffered by the insured, arising from an uncertain events, or to provide a payment based on death or life of an insured person.In order for a potential loss (which may be) can be insured (insurable) then it must have the following characteristics:
1. The loss of uncertainty,
2. Losses should be limited,
3. Losses must be significant,
4. Loss ratio can be predictable and
5. The disadvantage is not catastrophic (disaster) for the insurer.The question arises; death is certain, why be insured?Although it is something that contains a certainty, but when exactly when someone's death are beyond the control of the TSB. So when the events of death that do contain uncertainty is what causes it insurable.There are two forms of agreement in determining the amount of the payment at maturity of insurance, namely: the contract value (valued contract) and the indemnity contract (contract of indemnity).The contract value is an agreement whereby the amount of payment has been determined in advance. For example, the sum assured (UP) on life insurance.Indemnity contract is an agreement santunannya amount based on the number of actual financial loss. For example, the cost of hospital care.In the case of insurance companies are trying to curb possible losses fatal / major, then it can transfer risk to another insurance company. It is called reinsurance; Companies that accept named reinsurers.In addition to the five characteristics above, before it can be insured, the insurance company should consider the insurable interest and anti-selection. Insurable interest with regard to the relationship between the insured and the recipient of compensation / benefits - in terms of loss potential. For example, the insurance company will not sell fire insurance to parties other than the owner of the building is insured.Insurable interest in this case is the ownership of an eye something that is insured. Similarly, family relationships, financial linkages are grounded, is also a form of insurable interest. The definition of anti-selection (counter selection) refers to their greater tendency to take insurance because it has the level of risk is above average. For example, people who have a record of poor health or risk of hazardous work tend to want to buy insurance.To reduce anti-selection result, insurance companies must be able to identify and classify the potential risk or loss. The process of identification and classification of the level of risk is called underwriting or risk selection. But that does not mean anti-selection led to the filing of insurance declined, due to the insured with the risk of losses above the average may be charged a premium sub-standard (special premium) due to the risk of sub standard (special risk) unless the possibility of loss is much higher, it may request the insurance denied.History of Insurance in IndonesiaThe insurance business in Indonesia on the Dutch colonial time and our country at that time called Nederlands Indie. The existence of insurance in our country as a result of the success of the Dutch in the plantation sector and trade in the colonies.To ensure its survival, then their insurance is absolutely necessary. Thus the insurance business in Indonesia can be divided into two periods, namely the colonial period until 1942 and the period after World War II or the time of independence.At the time of the Japanese occupation army for approximately three and a half years, almost did not record the history of the development.Insurance companies in the Dutch East Indies colonial days it is:
The companies founded by the Dutch.
Companies that are branch offices of insurance companies headquartered in the Netherlands, the UK and in other countries.With a monopoly system that is run in the Indies, the development of insurance in the Netherlands Indies restricted to commercial activity and the interests of the Dutch, British, and other European nations. The benefits and the role of insurance is not known by the public, especially by indigenous communities.This type of insurance has been introduced in the Indies at that time was still very limited and mostly consist of fire insurance and freight.Motor vehicle insurance still play a role, because the number of vehicles is still very small and only owned by the Dutch and other foreign nation. In colonial times not recorded a single insurance company.During World War II activities of insurance business in Indonesia practically stalled, mainly because of the closure pemsahaan- insurance company owned by the Dutch and the British.Insurance independence eraAfter the war ended, the Dutch companies and the UK back in operation in the country that has been independent of this. Until 1964 the insurance industry market in Indonesia is still dominated by foreign companies, mainly the Netherlands and the United Kingdom.At the beginning of their operations in Indonesia set up an entity called "Bataviasche Verzekerings Unie" (BVU) in 1946, which conducts collective insurance. Thus each closing, each member BVU gained a certain share. How this is done considering the circumstances at that time and effort are not settled once the insurance is still lacking.In 1950 the company established a first loss insurance, namely NV. These Insurance Indonesia which then in early 2004 has become PT MAI PARK. At that time, a company pioneering the first national insurance, these companies have to compete with foreign insurance companies that excel both in the capital factor and technical knowledge.With the establishment of the national insurance company, the courage of national entrepreneurs are encouraged to set up insurance companies. Courage is also supported by the government regulation that all imported goods must be insured in Indonesia. This arrangement is intended to combat the use of foreign exchange to pay insurance premiums abroad.In 1953 also stood a national private company engaged in reinsurance Dutch and English in Indonesia, the use of foreign exchange to pay reinsurance premiums abroad also remains large. To cope with this, founded in 1954 a professional reinsurance company, namely "PT. REINSURANCE .UMUM INDONESIA "which received support from state banks.The latter institution issuing binding regulations for foreign insurance companies to menggunakanjasa national reinsurance company. The steps taken by the government in this case gives the expected results. Activity PT. General Reinsurance Indonesia in 1963 expanded the activities of reinsurance.At the time PT. General Reinsurance Indonesia was established, many insurance companies have sprung up nationwide, but its development is still hampered by heavy competition from private insurance companies are foreign.At the time of the struggle mengembaiikan West Irian to the Republic of Indonesia, the government nationalized the Dutch companies. British companies were nationalized in the confrontation.source:http://www.prudent.web.id/asuransi-prudential/artikel/sejarah-asuransi-di-indonesia.html http://mediaasuransi.blogspot.com/2008/03/pengertian-dan-sejarah-asuransi.html
Belum ada tanggapan untuk "Definition and History of Insurance in Indonesia"
Post a Comment