Insure 4,334 Assets, The Government Gets Rp32 Trillion Insured: Quick Funds If There Is A Disaster

The Ministry of Finance office complex as one of the state assets (Photo: Doc. Antara)

JAKARTA - The government through the Directorate General of State Assets (DJKN) of the Ministry of Finance (Kemenkeu) reported that until August 31, 2021 the number of insured state property (BMN) was 4,334 registration serial numbers (NUP). This amount comes from 51 ministries/agencies (K/L) with a premium of Rp49.13 billion.

Director of Legal and Public Relations of DJKN Ministry of Finance Tri Wahyuningsih Retno Mulyani said the total insured value of all these assets was IDR 32.41 trillion.

"Insuring BMN is an effort by the government to provide quick funds in dealing with the impact of disasters on BMN," he said in a statement after the virtual exposure on Friday, September 10.

According to Tri, his party is currently preparing strategic steps related to the development of BMN insurance, namely, the implementation of insurance for all ministries and institutions. In addition, the government will also expand the object of BMN insurance and prepare for the integration of pooling fund for disaster funds as a source of funding for BMN insurance.

He mentioned that the initial stage of implementing the Disaster Pooling Fund was the issuance of Presidential Regulation Number 75 of 2021 (Perpres 75/2021) concerning the Joint Fund for Disaster Management. Later, funds from insurance claims will become one of the sources for joint disaster management funds.

It is also said that the joint funds are sourced from the APBN, APBD, and other legitimate sources such as receipt of payment of insurance claims and/or sharia insurance.

"The joint fund aims to support and complement the availability of adequate, timely, targeted, planned and sustainable disaster management funds in an efficient, effective, and accountable disaster management effort," he said.

This insurance managed fund will be entrusted to the public service agency (BLU) of the Ministry of Finance to be developed in the form of short-term investment and long-term investment in accordance with the provisions of the legislation.

To note, the implementation of BMN insurance with the issuance of Presidential Regulation 75/2021, changes in business processes related to budgeting, procurement, and claims will be carried out by the Fund Management Unit.

Meanwhile, the planning and determination stages of BMN insurance are still carried out by K/L. Previously, all business processes were carried out by the relevant K/L.

"With this new scheme, it will certainly have an impact on the insurance industry, namely it will simplify business processes, which originally served 81 K/L to only one consumer, both from the procurement and claim processes," concluded Tri.