Small Vessels Hardly Served

Small Vessels Hardly Served

JAKARTA – Some insurance employers said they hardly give protection for small vessels related with the regulation issued by Transportation Ministry over the obligation for vessel owners to insurance their vessels.

Head of Directorate Human Capital & General Administration PT Asuransi Central Asia (ACA), A. Anton Lie, said with emphasis from the regulatios, insurance industrial growth, especially for marine hull and marine cargo is expected to increase.

However, Anton said the regulation needs policy support from the government since for the vessels operated in local areas and categorized as small vessles, insurance players tend to prevent from vessel guarantee.

“Since small vessels with below 200-GT capacity are difficult to be controlled over owner clarity, permit obedience, and insurable vessel age,” Anton explained on Monday (2/2).

In addition, insurance players will depend on the reassurance policy to insurance their vessels.

Therefore, Anton suggested the government through financial authority to form aid insurance product for small vessels.

One of insurance firms giving the highest target for maritime insurance is PT Asuransi Jasa Tania Tbk (Jasta).

Jastan Director, Ade Zulfikar, said his office has started to work on the both potentials since the last two years. Even, the company targeted marine insurance business entity into one of the firm’s main pillars in producing premium in 2015.

Another insurance firm, PT Asuransi Sinar Mas, targeted 200% premium hik in 2015 from marine insurance. “In 2014, marine contributed IDR 50 billion so the target doubles,” explained Dumasi M.M. Samosir, Sinar Mas Insurance Director.

He added for marine business, either cargo or vessel frame, his office has given special attention. “We often hold special marine trainings since the ned of last year,” he said.

Complicated Policy

According to Dumasi, marine insurance policy is one of complicated insurance policies.

High risks especially in maritime sector are seen from the report of 2014 Allianz Global Corporate & Specialty, Safety and Shipping Review. Allianz recorded the seas surrounding Indonesia to Philippines are the most dangerous areas.

High marine insurance risk is also proven from the statement of Warsito Sanyoto, an insurance investigator. He said marine cargo is one of insurance types whose claims are mostly manipulated by customers.

“Many people seek for profit using any methods including by manipulating insuranceclaim. From many cases I have handled, marine cargo insurance is the most case,” he explained.

Julian Noor, Indonesian General Insurance Association Executive Director, stated his association is discussing this policy so he cannot deliver any statement.

It is not only targeted by insurance firm, but brokers are also interested in marine insurance business. Indonesian Insurance Broker Company Association (Apparindo) Advisory Team, Freddy Pieloor, said this year, insurance brokers will take the opportunity from countless un-insuranced vessels. (Bisnis Indonesia)