Video: Preparation for Insurance Policy Guarantee at 80%, LPS Strengthens 4 Pillars

Jakarta, CNBC Indonesia - The Deposit Insurance Corporation (LPS) is preparing to implement Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (UU PPSK) regarding the guarantee of insurance policies in 2028. LPS Commissioner for the Insurance Policy Guarantee Programme Division, Ferdinan D. Purba, stated that preparations for the insurance policy guarantee have currently reached 80%, covering four pillars: programme design, regulations, infrastructure, and human resources. With this progress, LPS could implement the LPS policy guarantee more quickly in 2027, but still based on the agreement of the government and the House of Representatives (DPR RI). Regarding programme design, LPS highlights issues related to membership, coverage of guarantees, guarantee limits, and costs.