OJK Gives Sanctions For Business Restrictions On Jiwasraya Insurance And Career Insurance

OJK (Photo: Antara)

JAKARTA - The Financial Services Authority (OJK) has imposed sanctions on Restrictions on Business Activities (PKU) to PT Asuransi Jiwasraya (Persero) (PT AJS) and PT Berdikari Insurance (PT BIC).

Plt. Head of the Department of Literacy, Financial Inclusion and Communication OJK M. Ismail Riyadi conveyed that the issuance of PKU sanctions was deemed to have violated a number of provisions in the insurance sector.

Ismail explained that the imposition of PKU sanctions was a series of surveillance processes carried out by the OJK as regulated in applicable regulations with the aim of protecting the interests of policyholders and the community.

"PT. AJS and PT BIC are still required to carry out obligations that are due in accordance with statutory provisions," he said in his statement, Friday, September 13.

Ismail said that after the sanctions were imposed, PT. AJS and PT. BIC were prohibited from carrying out new coverage closing activities for all business lines for the insurance company from September 11, 2024, until the company was able to overcome the causes of the PKU sanctions imposed for all these business activities.

Furthermore, Ismail said that OJK had asked PT. AJS and PT. BIC to continue to open communication channels with policyholders as a form of consumer services/ policyholders.