Indonesian Political, Business & Finance News

Archive: 29 July 2024

1 article found

Indonesia's Mandatory Vehicle Insurance Policy Faces Public Backlash Over Financial Burden

Indonesia's Financial Services Authority (OJK) is enforcing mandatory third-party liability vehicle insurance for all motor vehicles starting January 2025, prompting widespread public opposition over increased financial burden. Vehicle owners and motorcyclists argue the mandate duplicates existing insurance offerings at purchase and represents an unnecessary expense, raising challenges for the government to balance road safety benefits with public resistance. As the implementation deadline appro