scholarly journals Implementation of Ex-Gratia Claim Payment in Insurance Agreement

2022 ◽  
Vol 13 (1) ◽  
pp. 60
Author(s):  
Wiwin Wintarsih Windiantina ◽  
Eman Suparman ◽  
Isis Ikhwansyah ◽  
Nyulistiowati Suryanti
Keyword(s):  
Life Insurance ◽  
Good Faith ◽  
Insurance Company ◽  
Insurance Agreement

This study aims to explain descriptively about the implementation of ex-gratia claims on life insurance agreements, how to pay and settle ex-gratia claims and ex-gratia claim terms. In the Life Insurance agreement, the insured party when experiencing an unexpected risk of obtaining its rights in the settlement of claims. The occurrence of rejection of claims on life insurance, becomes the cause of a lack of understanding of the actual articles and regulations must be understood before deciding to use insurance. In fact, not all losses suffered by the insured in the insurance agreement can be paid according to the agreement. It is caused by several factors that are considered to violate the principles of insurance and regulations that have been determined in the insurance agreement, resulting in the cancellation of the insurer pays its obligations to the insured or commonly called rejected claims. But customers sometimes still demand that the company pay, therefore the insurance company takes the initiative to pay claims rejected through Ex-gratia. But many people do not know about the ex-gratia claim.  Some insurers take the initiative to pay ex-gratia rejected claims. Implementation of ex gratia claims can be done by negotiation, good faith from the insurer to the insured.   Received: 15 October 2021 / Accepted: 30 November 2021 / Published: 5 January 2022

scholarly journals Tanggung Jawab Pihak Asuransi Terhadap Perjanjian Kredit Bank Dalam Hal Debitur Meninggal Dunia

2021 ◽  
Vol 2 (1) ◽  
pp. 196-201
Author(s):  
Ni Putu Purnama Wati ◽  
Ni Luh Made Mahendrawati ◽  
Desak Gde Dwi Arini
Keyword(s):  
Life Insurance ◽  
Research Method ◽  
Civil Code ◽  
Insurance Company ◽  
Conceptual Approach ◽  
Interested Party ◽  
Legal Consequence ◽  
Credit Agreement ◽  
Legal Consequences ◽  
Insurance Agreement

Credit agreements are usually accompanied by a collateral agreement and an insurance agreement. This insurance agreement is a means of transferring risk for the bank, especially life insurance in the event of a debtor's death, besides credit can also fall to the heirs if the debtor dies before paying off the remaining credit. This study aims to analyze the legal consequences of the Bank's Credit Agreement in the event that the Debtor dies and to find out the responsibility of the Insurance Party for the Bank's Credit Agreement in the event the Debtor dies. This study uses a normative research method with a statutory approach and a conceptual approach. The results show that the legal consequence of the credit agreement in the event that the debtor dies, there are two possibilities, namely that the credit goes to the heirs as regulated in article 833 of the Civil Code (Burgerlijk Wetboek) or the guarantee is executed by the bank, and the second possibility is that the credit is written off due to a life insurance clause or a life insurance agreement with a banker's clause, which means that the insurance company must be responsible for paying off the remaining debts of the debtor who died according to the terms and conditions of the policy, otherwise the interested party can file a summons to sue the insurance company. From this, the conclusion is that the parties must fully understand the contents of the credit agreement made, so that later if this risk occurs, there will be clarity on the payment of the debtor's remaining debt.

scholarly journals Sistem Pertanggungan Pada Penjaminan Bancassurance oleh Asuransi X Syariah Menurut Konsep Kafālah

2020 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Nuraiza Zahara
Keyword(s):  
Life Insurance ◽  
Insurance Coverage ◽  
Descriptive Analysis ◽  
Minimum Amount ◽  
Insurance Company ◽  
Analysis Method ◽  
Cooperation Agreement ◽  
Insurance System ◽  
Insurance Agreement

<p>Cooperation agreement between the Bank and Insurance in the form of a bancassurance system the Bank transfers part of the risk that will arise to the Insurance. Such as the risk of debtor customer financing bottlenecks due to death, the risk borne by the Bank is transferred to the insurance company with life insurance coverage. Insurance agreement for debtor customers, Insurance applies a system based on the kafālah concept. This study explores how the insurance system between the customer and the Bank with the involvement of Insurance as a guarantor in the Bancassurance agreement and how the Islamic legal review of the insurance system carried out by the Insurance against the Bank with the Bancassurance agreement. This research uses descriptive analysis method, which describes or gives a description of the object under study through data or samples that have been collected. The conclusion of the research is that the coverage applied by the Insurance against the Bank is not in accordance with the true kafālah concept, the Insurance has paid the principal fund fully but does not pay the service fee in accordance with the minimum amount determined by the Bank. Based on the concept of insurance, the insurance should be obliged to fulfill everything that is the responsibility of the customer to the Bank, including compensation for services as stipulated. From the explanation above, the concept of kafālah applied by Insurance in its coverage of the Bank is still a mismatch between the concept and its application.</p>

Tuesday Evening

PMLA ◽  
1935 ◽  
Vol 50 (4) ◽  
pp. 1357-1357
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Local Committee ◽  
Tuesday Evening

On Tuesday evening the members of the Association, and attending members of their families, were entertained with a buffet supper at the Queen City Club at 7:30 p.m. at the invitation of Messrs. Joseph S. Graydon, John J. Rowe, and other Cincinnati friends of the Association. Following this supper an entertainment arranged by the Local Committee was presented in the Hall of the Western and Southern Life Insurance Company. Attendance: about 900.

Hr Practices And Hr Policies At Icici Prudential Life Insurance Company Ltd

Think India ◽  
2019 ◽  
Vol 22 (3) ◽  
pp. 348-354
Author(s):  
T. Krishna Veni ◽  
G. Kalyani
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Hr Practices ◽  
Commercial Center

The job of Human Resources is changing as quick as innovation and the worldwide commercial center. Generally, the HR Department was seen as organization, kept individual documents and different records, dealt with the enlisting procedure, and gave other authoritative help to the business. Those circumstances are different. The positive consequence of these progressions is that HR experts have the chance to assume a progressively vital job in the business. The test for HR chiefs is to stay up with the latest with the most recent HR developments—mechanical, lawful, and something else.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

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