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)