OJK Asked To Lift Sanctions So Kresna Life Can Pay Payments To Customers

Illustration. (Photo: Doc. Antara)

JAKARTA - Kresna Life life insurance customers have asked the Financial Services Authority (OJK) to lift the suspension of Business Activities (PKU) against PT Asuransi Jiwa Kresna or Kresna Life so that the insurance company can fulfill its payment obligations.

One of the customers, Tan, said that several customers from the Kresna Life Insurance customer community held another meeting with OJK on Tuesday, June 21 accompanied by an Associate Lawyer from Dr. Benny Wulur SH.

"First, there is still no significant breakthrough or decision regarding the Kresna issue, considering that currently it is a transition period to a new OJK official who will start serving on July 20, 2022. All results of meetings and discussions will be submitted to a new team of officials as Memorie van Toelichting who gave the minutes and explained the case," said Tan in his statement, quoted from Antara, Thursday, June 23.

Second, the revision of Kresna Life's Financial Restructuring Plan (RPK) received by OJK on May 30, 2022 is still in the analysis process, but at first glance it seems that there are still no significant steps as an effort to increase capital.

Therefore, OJK is still encouraging Kresna Life to provide the plan and also to make a discourse on gradual fulfillment and maintaining cash flow that can pay customers.

"In response to this, Associate Lawyer, Ms. Ruth conveyed that OJK could lift the PKU Kresna sanction because it was used as an excuse to stop payment of installments to customers, which according to Kresna, as long as the PKU has not been revoked, no investors are willing to cooperate and inject funds. " said Tan.

Tan added that the fault was not only on Kresna Life's side, but also because of the OJK's negligence in conducting supervision. Such a large violation of Krishna, continued Tan, logically did not occur in a short time but for a long time, but only because of OJK's negligence in carrying out supervision, customers ended up becoming victims.

Customers also ask OJK to consider carefully that since June 2020 Kresna Life has had good intentions and is trying to continue to correct mistakes by paying off policies with a value below 50 million, and for policies above 50 million Kresna has made installments to customers who have reached approx. IDR 1.4 trillion.

"But because of the OJK PKU sanctions that have been around for more than a year, Kresna can't do business, so the installment payments to customers have stopped," said Tan.

The customer asks for good faith from the OJK by taking steps that can save the customer, for example revoking the PKU for a certain period of time so as to allow new investors to enter. In addition, OJK also continues to monitor the implementation of Kresna Life payments to customers.

"Similarly, customer attorney Dr. Benny Wulur will continue to monitor payments to customers. OJK officials stated that customer aspirations will be conveyed to the leadership and will hold a tripartite meeting as soon as possible between Kresna, OJK and customers in order to reach a good solution for customers," said Tan.