JAKARTA. Senior economist Faisal Basri considers OJK to be responsible for current issues in the insurance industry.
The reason, said Faisal, every insurance company was given the obligation to submit periodic reports to the OJK at least four times a year. "It is natural for the OJK to be responsible for the problems that have befallen Jiwasraya and ASABRI. This is not the only time this tragic event has happened to insurance companies," he explained.
According to Faisal, ASABRI's liquidity problem was still a little easier to handle because it still received contribution funds from participants. While for the Jiwasraya case, it is considered to be even greater because the premium that has to be paid continue to increase. At the same time, the company cannot get funds from new premiums because the public doesn't want to invest in investment products offered by Jiwasraya.
"It is natural if many people start questioning the existence of the OJK. Not only about its authority over insurance companies, but also for banks, non-bank financial institutions, capital markets, and fintech," Faisal said on his personal website as quoted by kumparan on Sunday (26/1).
He criticized the government, and he believes that the government should have made the insurance policy underwriter program, no later than three years after the Insurance Law was issued. But in fact, until now the Policy Guarantee Agency (LPP) has not been established.
"If the government did not neglect the problem, Jiwasraya's customers will certainly still have high hopes, that the premiums will be paid and their investment will return. (AM/AR)