log in
All Articles | Back

Member Articles


Chambers Global Practice Guide: Insurance and Reinsurance 2020, An Exclusive Indonesia Chapter 

by Alexandra Gerungan

Published: March, 2020

Submission: March, 2020

 



Chambers & Partners published its Practice Guide on Insurance and Reinsurance 2020. This guide provides expert legal commentary on key issues for businesses, and covers the important developments in the most significant jurisdictions.


The contents include:


  1. Basis of Insurance and Reinsurance Law
    1. Source of Insurance and Reinsurance Law
  2. Regulation of Insurance and Reinsurance
    1. Regulatory Bodies and Legislative Guidance
    2. The Writing of Insurance and Reinsurance
    3. The Taxation of Premium
  3. Overseas Firms Doing Business in this Jurisdiction
    1. Overseas-Based Insurers or Reinsurers
    2. Fronting
  4. Transaction Activity
    1. M&A Activities Relating to Insurance Companies
  5. Distribution
    1. Distribution of Insurance and Reinsurance Products
  6. Making an Insurance Contract
    1. Obligations of the Insured and Insurer
    2. Failure to Comply With Obligations
    3. Intermediary Involvement
    4. Legal Requirements and Distinguishing
    5. Features of an Insurance Contract
    6. Multiple Insured or Potential Beneficiaries
    7. Consumer Contracts or Reinsurance Contracts
  7. Alternative Risk Transfer
    1. ART Transactions
    2. Foreign ART Transactions
  8. Interpreting an Insurance Contract
    1. Contractual Interpretation and Use of Extraneous Evidence
    2. Warranties
    3. Conditions Precedent
  9. Disputes
    1. Disputes Over Coverage
    2. Disputes Over Jurisdiction and Choice of Law
    3. Litigation Process
    4. The Enforcement of Judgments
    5. The Enforcement of Arbitration Clauses
    6. The Enforcement of Awards
    7. Alternative Dispute Resolution
    8. Penalties for Late Payment of Claims
  10. Insurtech
    1. Insurtech Developments
    2. Regulatory Response
  11. Emerging Risks and New Products
    1. Emerging Risks
    2. New Products or Alternative Solutions
  12. Recent and Fortcoming Legal Development
    1. Developments Impacting on Insurers or Insurance Products
  13. Other Developments
    1. Additional Market Developments

 


In the first section, Alexandra writes, "In addition to the written regulations, it is not uncommon for the officials of the OJK to have their own unwritten policies (discussed below) and interpretations to the provisions of the relevant regulations." She then continues, "Indonesia adopts a civil law legal system, derived from Dutch colonial law. In this legal system, the main legal source is the Law (codification system) and the justice system is inquisitorial (in which the judge has an examining or inquiring role). Further, like other civil law countries, Indonesia does not apply the rule of binding precedent (stare decisis) and, therefore, each case is reviewed on its own merits, in a case-by-case basis." (p. 3).


Click the link below to read the exclusive article on Indonesia written by Alexandra Gerungan.


 



Link to article

 

MEMBER COMMENTS

 

 

WSG Member: Please login to add your comment.

    Disclaimer

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | PRIVACY POLICY | DISCLAIMER |  © World Services Group, 2020