Strengthening Legal Protection for Insurance Policyholders in Indonesia: Pre-Contractual Fairness, Claims Governance, and the Policy Guarantee Program
DOI:
https://doi.org/10.70826/jsisnu.v3i2.1834Keywords:
policyholder protection, insurance law, utmost good faith, Policy Guarantee Program, Financial Services AuthorityAbstract
Legal protection for insurance policyholders is essential to ensure legal certainty in the contractual relationship between insurers and policyholders in Indonesia. Defaults by several life insurers, disputes over investment-linked insurance products, and claim denials based on alleged non-disclosure demonstrate that policyholders remain vulnerable. This study analyses the regulation, forms, and adequacy of legal protection for policyholders, including the roles of the Financial Services Authority (OJK) and the Indonesia Deposit Insurance Corporation (LPS). It applies normative legal research using statutory, conceptual, case, and comparative approaches to the Civil Code, the Commercial Code, the Consumer Protection Law, the Insurance Law, the OJK Law, the Financial Sector Development and Strengthening Law, OJK Regulation No. 22 of 2023, Constitutional Court Decision No. 83/PUU-XXII/2024, and the United Kingdom's Consumer Insurance (Disclosure and Representations) Act 2012. The findings show that policyholder protection is multi-layered, combining preventive and repressive mechanisms, but gaps remain at four points: imbalanced pre-contractual disclosure duties, control of standard terms, claims-handling governance, and protection upon insurer failure. The Constitutional Court's decision on Article 251 of the Commercial Code and the creation of the Policy Guarantee Program under the Financial Sector Law are significant steps, but they require clear implementing regulation. The study proposes a Lifecycle Policyholder Protection Framework covering the pre-contractual, performance, claims, and insurer-failure stages.
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