BII, Wahana Tata sign deal

BII, Wahana Tata sign deal

JAKARTA: Bank International Indonesia (BII) and insurance firm PT
Asuransi Wahana Tata signed on Thursday an agreement in which the
company would help cover the bank's business risk.

The insurance coverage would be wide-ranging, from potential
losses resulting from financial fraud to fire and disasters, said
Rudy Wanandi, the president of Asuransi Wahana Tata.

Meanwhile, Sigit Pramono, the president of BII, said that the
deal with Asuransi Wahana Tata was part of ongoing efforts to
promote good corporate governance within the bank.

In the past, BII exclusively appointed its affiliated
insurance company to cover the bank's business risk. BII was
founded by the Sinar Mas Group.

"It's a bad practice, and must be put to an end. We should
give all capable insurance firms the equal opportunity to cover
the bank's risks," said Sigit. -- JP