Understanding Insurance 04

SCOPE OF INSURANCE BUSINESS

 

1. Insurance company can only organize the business in general insurance including reinsurance.
2. Life insurance company can only conduct business in life insurance, health insurance, personal accident      insurance, annuity business, as well as a pension fund management institution in accordance with laws and regulations.
   
3. Reinsurance company can only organize a re-insurance business.
   
4. Insurance brokers to conduct business only with the act represents insurance companies in the context of transactions relating to insurance contracts.
   
5. Reinsurance brokers to conduct business only with the act represents a reinsurance company in the context of transactions relating to reinsurance contracts.
   
6. Insurance company loss adjuster can only organize a service business valuation losses against loss or damage that occurs in object insurance.
   
7. Actuarial consulting firm may only conduct business in the field of actuarial services.
   
8. The company can only organize insurance agent insurance marketing services for insurance companies who have permission of the Minister of Finance of the Republic of Indonesia.