Insurance Comparative Guidelines

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 delighted to announce the release of our inaugural Insurance Comparative Guidelines in collaboration with our respected Alliot Global Alliance (AGA) firm members.

These guidelines offer a comprehensive overview of insurance practices in three prominent Asian countries – Indonesia, the Philippines, and Japan. In these guidelines, we cover a broad range of topics related to the insurance sector in each country, from the types of insurance companies and legal frameworks to regulations governing insurance contracts and claims.

We express our gratitude for our contributors and the support from fellow AGA members. By providing detailed comparisons of insurance practices across countries, we hope to present our clients with invaluable insights to help them navigate the complexities of insurance practices in different regions.

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Alexandra Gerungan
Senior Partner, ADCO Law, Indonesia

Insurance in Indonesia: Fortifying Futures for Indonesia's Growth

As the regulator, The Financial Services Authority (OJK) plays an important role in setting guidelines for nonbank sectors such as insurance companies and insurance supporting businesses.

Insurance in the Philippines: Protected by Law, Secured by Choice

In the Philippines, the Insurance Commission is responsible for regulating insurance. The laws in place aim to provide policyholders with fair treatment, ensuring transparency and privacy.

Insurance in Japan: Fair, Transparent, and Reliable

The insurance industry in Japan is highly regulated to ensure fairness, transparency, and reliability. Insurance companies must provide clear information to protect consumers, with strict violation penalties.

As a proud member of the Alliot Global Alliance, ADCO Law has released our first set of Insurance Comparative Guidelines. Our guidelines consist of an extensive examination of three different jurisdictions: Indonesia, the Philippines, and Japan.

From the types of insurance companies available and legal frameworks to the regulations that govern insurance contracts and claims, we want to provide valuable insight into how different approaches to insurance regulation can impact businesses and the overall economic landscape.