JAKARTA. The Indonesian Insurance Council agreed with the Financial Services Authority's (OJK) efforts to tighten supervision on risk management of insurance companies.
Dody Achmad Sudiyar Dalimunthe, Executive Director of the Indonesian Insurance Council, said that this shows that the insurance industry is very appreciative of the regulations made by the government. "This is because it concerns public funds," Dalimunthe said as reported by Kontan on Friday (17/1) today.
In addition, said Dalimunthe, insurance companies will also be more easily trusted by the public if they follow the regulations made by the regulator.
Supervision of risk management of insurance companies is also believed to reduce the potential for fraud in insurance companies. (KR/AR)