The growing digitalization of Indonesia’s insurance industry has expanded the flow of customer data across insurance companies, brokers, vendors, and digital platforms, increasing exposure to privacy and security risks. Under Law Number 27 of 2022 on Personal Data Protection (“PDP Law”), insurance companies, as data controllers, remain legally responsible for any processing carried out by third-party processors,…
What is Insurance? In general, insurance is a contractual arrangement between an individual or entity (the insured) and an insurance company (the insurer), whereby the insured pays a premium in exchange for financial protection against specified risks. Similarly, in Indonesia, Law Number 40 of 2014 concerning Insurance defines insurance as an agreement between an insurance…
Dear Readers, In today’s rapidly evolving landscape, insurance has become essential to safeguard individuals and businesses against unforeseeable risks and uncertainties. Thus, it is crucial to have a comprehensive policy to mitigate such risks effectively. At ADCO Law, we recognize the importance of understanding the intricacies of insurance systems across various jurisdictions. Therefore, we are…
Share this: Linkedin Link A. The Legal Framework Who is the insurance regulatory body in your country? Besides the regulatory body, are there any other associations overseeing the insurance industry in your country? What laws serve as the legal basis for insurance companies in your country? What penalties or sanctions are imposed on companies that…
Share this: Linkedin Link A. The Legal Framework Who is the insurance regulatory body in your country? Besides the regulatory body, are there any other associations overseeing the insurance industry in your country? What laws serve as the legal basis for insurance companies in your country? What penalties or sanctions are imposed on companies that…
Share this: Linkedin Link A. Legal Framework Who is the insurance regulatory body in your country? Besides the regulatory body, are there any other associations overseeing the insurance industry in your country? What laws serve as the legal basis for insurance companies in your country? What penalties or sanctions are imposed on companies that fail…