Tips Reviews Insurance

The form and content of the insurance agreement Insurance or coverage is a reciprocal agreement, in the sense of an agreement, in which both parties each have a valued obligation, where the responsible party has the obligation to pay premiums, the amount of which is determined by the insurer, while the insurer has an obligation to compensate suffered by the insured. According to the provisions of article 255 KUHD it is determined that all insurance or coverage must be formed in writing with a fact called a policy. Insurance policy is the contents of the insurance agreement. In article 256 KUHD it is determined that the contents of the policy for insurance or insurance in general unless life insurance must contain: 1. Day of forming insurance 2. The name of the person who as the insured agrees to form insurance, which is at his own expense or at the expense of another person. 3. The mention of the things or objects that are guaranteed is quite bright. 4. Amount of money, for which h...

Insurance Losses, Life Insurance: Definition and Explanation In its development, many types of insurance that are not found in KUHD can be found in insurance practices. According to H. Gunanto, insurance is classified as: 1. Loss insurance Consists of insurance for property (property), financial interests (Pecuniary), legal responsibility (liability) and self insurance (accident or health) 2. Life insurance Which concerns the problem of the death of the insured in the insurance period or staying alive until the end of the insurance period. Providing money at the time of death of the insured for burial fees and for continuing income for his heirs. According to whether or not it was determined first, the amount of money to be paid for insurance can be divided into: 1. Loss insurance is to replace losses incurred, the amount of which is not previously determined. 2. Insurance A sum of money is to pay an amount of money whose amount has been determined from the beginning. This appl...

Slavery Insurance, Land and River Transportation Insurance: Definition and Case Examples  Slavery insurance is: To protect prospective workers who work overseas who are often victims of trafficking among those who are sold mainly women or die while working as migrant workers.  Sample case: For example, there is a worker from Indonesia (TKI) working in Malaysia for 3 years. While working as a migrant worker, the person had an accident while working and died in Malaysia. Because the person is a member of slavery insurance, the immediate family (husband or wife and children or heirs) has the right to get the insurance in the form of money determined by the insurance company to be given to the heirs.  • Land transport and river insurance  That is to minimize damage or loss to the cargo transported inside. Ensure damage or loss caused by a risk and since the goods leave the warehouse until they arrive at the destination both from land transportation, waters ...

Life insurance, Ocean insurance and slavery, agricultural : Definition and Case Examples • Insurance that threatens agricultural products in the fields Insurance that threatens agricultural products in the fields is to replace farmers' losses regarding matters relating to agriculture or to protect farmers from crop failure. Sample case: If farmers make insurance for crop failure, if this year the farmers are threatened with crop failure due to pest or famine (dry season), the insurance company will compensate the farmers for losses according to a predetermined agreement, but if the farmers do not experience crop failure this year then the farmers will get nothing from the insurance company. • Life insurance Life insurance provides services in managing risks that are associated with the life or death of someone insured and their long-term nature. Sample case: 1. when someone buys death insurance with a period of 5 years with a sum of 100 million rupiah then he must pay the p...

5 Type and Classification of Insurance Article 247 KUHD specifies insurance in 5 types, namely: • Fire Insurance Fire insurance is all kinds of goods can be insured, the important thing is the items in your home must record or state it in writing in the policy. Sample case: When someone buys a fire insurance policy for a home he will pay the money (premium) that has been determined by the insurance company, at the same time the insurance company will bear the financial risk if there is a fire on the house. For example, Andi is a private employee in a company located in the golden triangle area in Jakarta. Andi is married and has been blessed with two cute children who are still toddlers. This incident unexpectedly came. A fire broke out one night before morning, where Andi's family was sleeping soundly. Because between one house and the other, they are so close together that the flame very quickly spreads to almost all the houses around it.  In a short time, more than 20 houses ...

6 Basic Insurance Principles according to KUH According to the KUH Trade which is the basic principle of insurance or coverage are as follows: 1. Principles of Insurable Interest   This insured or insured principle of interest is contained in the provisions of Article 250 KUHD which essentially determines that for an agreement to be carried out, the insured object must be an insurable interest, that is, interests that can be valued with money. In other words, according to this principle a person may insure goods if the person concerned has an interest in the insured item. 2. Principle of openness (Utmost Good Faith) This principle of utmost good faith is contained in the provisions of Article 251 of the KUHD which basically states that the closing of insurance is only legal if its closure is based on good faith. 3. Principle of Indemnity (Indemnity) The principle of Indemnity is contained in the provisions of Article 252 and Article 253 of the Indonesian Criminal Code. According ...

Insurance Definition Under the KUHP Article Law Pasal 246 of the KUHD states: Insurance is an agreement with which an insurer ties himself to someone insured by receiving a premium, to provide compensation to him because of a loss, damage or loss of expected benefits that may be suffered because of an event that is not certain. Law No. 2 of 1992 concerning insurance business which was promulgated on February 11, 1992 provides a definition of insurance as insurance or insurance is an agreement between two or more parties, with the insurer binding itself to the insured, by receiving insurance premiums, to provide reimbursement to the insured due to loss, damage or loss of expected profits or legal responsibility to a third party that might be suffered by the insured, arising from an uncertain event, or providing a payment based on the death or life of someone insured. The basis and elements of insurance The basis of an insurance agreement is to avoid a risk by handing it over to s...