Tourism Indonesia Mart 1999 insured

Tourism Indonesia Mart 1999 insured

JAKARTA (JP): Participants of the Tourism Indonesia Mart &
Expo (TIME) to be held in the capital in September will be
insured against a possible delay in the annual tourism event, the
organizer said here on Monday.

Meity Robot, an executive of the event organizer, said that
the insurance coverage would be provided in response to concerns
over uncertain political situations following the June 7 general
election period.

The London-based insurance company, Insurex, has been
appointed to insure the event, Robot said.

She declined to reveal the value of the insurance coverage,
saying the deal on detailed articles covered in the agreement has
not been concluded.

"One thing for sure is that if TIME '99 was canceled because
of an unfavorable situation here, the insurance company would
return to the sellers and buyers all the costs and expenses they
incurred to participate in the event, " she said.

Up to 250 international buyers, including those from new
target markets such as Estonia, Middle East and Eastern European
countries, and similarly the same number of domestic sellers were
expected to participate in the event, Meity said.

"We are expecting to conclude a total transaction of at least
Rp 13 billion (US$1.5 million), close to last year's total
transaction of Rp 13.7 billion," she said. (cst)