Document background
The Agreement Of (Insurance) is a fundamental document in Indonesian insurance practice, used to establish and formalize the insurance relationship between the insurer and the policyholder. It is governed by Indonesian law, particularly Law No. 40 of 2014 on Insurance and various OJK regulations, which provide the regulatory framework for insurance business in Indonesia. This agreement type is essential for documenting the scope of insurance coverage, premium obligations, claims procedures, and rights and obligations of both parties. It can be adapted for various insurance products including life, general, property, or liability insurance, and can be structured for either conventional or Sharia-compliant insurance products. The document is crucial for risk management and compliance purposes, incorporating consumer protection requirements and industry-specific regulations.
