tiktok���˰�

The Contractual Agreement (Insurance) serves as the foundational document establishing the insurance relationship between the insurer and policyholder under Indonesian law. This document is essential when any party seeks insurance coverage in Indonesia, whether for life, property, liability, or other insurable interests. It must comply with the Indonesian Insurance Law (Law No. 40 of 2014), OJK regulations, and the Indonesian Civil Code. The agreement includes crucial elements such as risk coverage, premium calculations, claim procedures, and policyholder rights, while incorporating mandatory consumer protection provisions required by Indonesian law. This document is particularly important given Indonesia's strict regulatory framework for insurance products and the need for clear documentation of insurance obligations and rights.

1. Parties: Identification of the insurer and the insured (policyholder), including complete legal names, addresses, and registration details

2. Background: Context of the insurance agreement, including the insured's intention to obtain coverage and the insurer's willingness to provide it

3. Definitions: Detailed definitions of key terms used throughout the agreement, including technical insurance terminology

4. Scope of Coverage: Detailed description of the risks covered, insurance objects, and territorial limits of coverage

5. Premium Payment: Terms of premium payment including amount, payment schedule, grace period, and consequences of non-payment

6. Policy Period: Duration of coverage, including start and end dates, and renewal terms

7. Exclusions: Specific risks, circumstances, or events that are not covered under the policy

8. Claims Procedure: Process for filing claims, required documentation, timeframes, and claim settlement procedures

9. Obligations of the Insured: Policyholder's duties including disclosure obligations, risk mitigation, and notification requirements

10. Rights and Obligations of the Insurer: Insurer's responsibilities and rights regarding coverage, claims assessment, and payment

11. Termination: Conditions and procedures for policy termination by either party

12. Dispute Resolution: Procedures for handling disputes, including mediation, arbitration, or court proceedings as per Indonesian law

13. Governing Law: Specification of Indonesian law as the governing law and relevant jurisdictional matters

14. Notices: Methods and addresses for official communications between parties