Social Business and Real Estate

Posts Tagged ‘insurance premium’

The insurance industry has asked the government to realize its plan to use data prepared by the Central Management Board of the National Insurance Data (BPPDAN). BPPDAN data application can reduce the loss ratio reinsurance companies.
BPPDAN is an institution that manages the statistics of fire insurance. This body was established by the Decree of the Indonesian Insurance Council is now called the Federation of Indonesian Insurance Associations (FAPI).
The main function of this institution is to collect various statistical information. BPPDAN published data contains detailed information on the industry received a total coverage for every type of building, the claims ratio, until the development of the claim under the underwriting year.

Currently, the property insurance premium rates are considered not reflect a fair price. If the tariff calculation reflects a reasonable cost, large tariff could rise three times more than current rates. The applicable rate for the current building average of about 1.5 per mil. Actually, added Kocu, General Insurance Association of Indonesia (AAUI) once made a reference rate of the property in 2001 and 2002. However, these reference prices are also not utilized. Read the rest of this entry »

You should do when buying a home using a mortgage loan mortgage alias. Well, that did not reach the difficulty many times when disaster strikes in the middle of the road, you must pay mortgage insurance fees at the earliest. Thus, in the middle of the road if you die, the ideal occupancy remains family owned. That’s because insurers will pay off the rest of your loan at the bank. Well, insurance will protect us from disasters like what? Also, how large should nan premiums paid to insurance companies? Answering these questions, let us see the explanation below.

1. Broadly speaking, there are some nan insurance forms required by the banks to mortgage borrowers. That among other life insurance and general insurance / fire. As we have mentioned in early writings, with life insurance, failed to pay due to the risk of death during the period of repayment, will be covered by insurance companies. Large value of the insurance company paid in accordance with the total remaining installments. As for life insurance / house fires to protect the debtor from severe accidents such as fires. If the house is on fire, the insurance company undoubtedly menggerojokkan redevelopment costs. Similarly, if the house was defective because of severe natural disasters such as floods.

2. What is the value of premiums paid by the debtor must nan mortgages to insurance companies? Here, in brief, it can be said that these values range from 1% to 2% of the credit ceiling. For instance, when a person get a loan amounting to Rp80 million to Rp100 million worth of homes, he disemati insurance costs amounting to Rp800.000 to Rp1, 6 million (1% to 2% of the credit limit). A number of insurance companies that had weighed in determining the value of life insurance premiums. Among others, the age of debtors; increasingly older age borrower, the greater the value premium. Another thing that is the credit period; increasingly long term, the greater the value premium. Read the rest of this entry »

Holcim, and ZII offer protection to houses built through the program Solution house. The protection provided covers a range of damage caused by such natural disasters, fires, explosions, and so forth. Even if there is a third party whose home has experienced damage, such as neighbors, will also be given protection for USD 25 million.

“Property insurance our partnership with Holcim is provided free of charge in the first year. In subsequent years, the premiums charged to be relatively cheap,” said President and CEO of Zurich Indonesia, Sancoyo its building.

For homes with a value of USD 50 million building, he pointed out, will be charged a premium of USD 75 000 each year. ZII dare to give this as cheap premiums, Sancoyo said, because the Holcim dare to guarantee that the materials and construction processes are carried out, for the houses on the Home Solution program, have a good quality.  Read the rest of this entry »

What is Insurance where insurance is a system of financial loss by channeling lower the risk of losing the person or entity to another. Agency risk that channel called “the insured”, and the agency receiving the risk is called “the insurer”. The agreement between the two entities is referred to the policy: this is a legal contract that explains each of the terms and conditions protected. Costs paid by “tetanggung” to “insurer” for the risks borne called “premium”. This is usually determined by the “insurer” for funds that can be claimed in future, administrative costs, and profits.

Insurance Act No.2 of 1992 on business insurance is an agreement between two or more parties, by which the parties committed themselves to the insurer to the insured, by accepting the insurance premium, to provide reimbursement to the insured for loss, damage or loss of profits or expected legal responsibility to a third party which may be suffered by the insured, arising out of an uncertain event, or provide a repayment that is based on a person dies or lives insured. Read the rest of this entry »