About Kresna Insurance
Grounded in the commitment to become a leading insurance partner for its customers, since its establishment PT Asuransi Kresna Mitra Tbk (Kresna Insurance) consistently develops insurance according to the growth of its customers’ needs.
The Company’s journey began on April 24, 1956 with its establishment under the name PT Maskapai Insurance Patriot (Patriot Insurance Society Ltd). In 1991, the Company was acquired by Kalbe Group and changed its name to PT Asuransi Mitra Maparya.
In 2014, Kresna Insurance officially listed its shares in the Indonesia Stock Exchange under the issuer code “ASMI” with the issuance of 402,871,000 shares. Following the registration of these shares, the Company’s name was varied to PT Asuransi Mitra Maparya Tbk.
In 2016, Kresna Insurance became known as PT Asuransi Kresna Mitra Tbk, in the consolidation following the Company’s merger with Kresna Group in 2014. Such transformation was made based on the decision of the Extraordinary General Meeting of Shareholders (EGMS) on June 15, 2016. As a form of the Company’s compliance with the legislation, the Company also amended its articles of association by way of Deed No. 94 in 2016, as approved by the Ministry of Law and Human Rights No. AHU-0011541. AH.01.02. TAHUN 2016 dated June 17, 2016. With this change, Kresna Insurance opened a new chapter in its journey as a trusted business protection partner across Indonesia. Kresna Insurance is fully committed to upholding the principles of professionalism, transparency, accountability, and compliance, in the continuous development efforts to be carried out in line with the vision and long-term goals of the Company. Asuransi Kresna Mitra ASMI
Chapter 1, Article 1: "Insurance or Coverage is an agreement between two or more parties, by which the insurer binds itself to the insured by receiving insurance premiums, to provide compensation to the insured due to loss, damage or loss of expected profits, or legal liability to third parties that may be suffered by the insured, arising from an uncertain event, or to provide a payment based on the death or life of an insured person. "
In addition to these definitions many definitions of insurance:
The simple concept of insurance
An inventory prepared by a group of people who could be hit by a loss to deal with an unpredictable event so that if the loss befalls one of them then the burden of the loss will be distributed to the whole group.
Understanding from an economic point of view
An economic arrangement that eliminates or reduces adverse effects in the future due to various possibilities as far as an individual's wealth is concerned. Based on these definitions, it can be concluded that insurance is one of the ways to pay compensation to the party that has experienced the disaster, the funds are taken from the premium contributions of all insurance participants.
History
Insurance, which is a general understanding of the protection of property from a thing that is not expected to cause harm. The insurance business was present in Indonesia at first when the Dutch colonial era, at which time our country was still called the Nederlands Indie. The entry of insurance into Indonesia itself was due to the success of the Dutch in several sectors in the colonies, such as the plantation and trade sectors.
To guarantee the continuity of the business, insurance is essential. Thus the development of insurance in Indonesia was divided into two periods, namely the colonial era until 1942, and the era of war after World War II or the era of independence. And at that time several insurance companies that existed in the Dutch East Indies during the colonial era were insurance companies founded by the Dutch, British, and other countries.
With the monopoly system implemented in the Dutch East Indies, the development of loss insurance in the Dutch East Indies was limited to trading activities and the interests of the Dutch, British, and other European nations. The benefits and role of insurance itself are unknown to the public, especially indigenous people. The types of insurance that had been introduced in the Dutch East Indies at that time were still very limited and most of them still consisted of fire insurance and freight insurance.
While motor vehicle insurance still does not play a role, at that time the number of motorized vehicles was still very minimal, because most were still owned by the Dutch and other foreign nations. But the development of insurance at this time in Indonesia there are several types of insurance. Such as life insurance, health insurance, education insurance, vehicle insurance, etc. But during World War II insurance activities in Indonesia had stopped, due to the closure of insurance companies owned by the Dutch and British. Asuransi Kresna Mitra ASMI
Motor Vehicle Insurance
Motor vehicles, like any valuable asset, should be protected against loss and damage, but there is an extra dimension to motor vehicle protection that must not be overlooked.
Every vehicle also should be insured against legal liabilities
for property damage and injuries to third parties. We protect both owner
and vehicle with:
- Comprehensive cover – Damage, Theft, Fire and Third Party
- Targeted cover – e.g. Third Party only; Total Loss only
- Extended cover – RSMD, RSCC, Act of God Asuransi Kresna Mitra ASMI
Fire insurance
Fire Insurance covers the material damage caused to the insured property by fire, lightning, explosion or falling aircraft.
We
indemnify you against the loss incurred or, if you have chosen to be
insured on a Reinstatement Value Basis, for the total costs or
reinstatement, subject to the adequacy of your cover.
In line with our commitment to meet the different needs of
individual clients, our Fire cover can be extended to include riot,
earthquake, flood and other potential threats Asuransi Kresna Mitra ASMI
Each company will certainly try to make the best possible financial planning to give the positive impact on the Company's performance and ultimately for the welfare of the employees.
Health Insurance Program that we offer will help the company to plan the health budget each year so that the "shock" due to the high cost to be incurred can be avoided and the funds reserved for the anticipated high cost of medical treatment the employee can be allocated to the more lucrative and rewarding.
In addition, the administrative workload that must be handled by the Company due to the treatment / care workers at the hospital that would take time and effort, it can be assigned or transferred to the Health Insurance so that employees are more focused on his work.
Mitra Health is a Health Insurance program that contains a guarantee of protection of health problems arising from illness or injury caused by the employee's accident. The collateral can be in the Hospital Inpatient, Medication Road, Dental Care, Maternity and forth.
We also have a Hospital Partner in almost every province in Indonesia, and has facilities "24 Hour Hotline Service" to provide health information generally associated with hospitalization for employees. Asuransi Kresna Mitra ASMI
Engineering Insurance
The Civil Works and Building Insurance covers the project from the signing of the contract, right through to completion of the works. Cover can also include the plant and equipment used for the work, as well as liability to Third Parties arising from the execution of the work.
Erection All Risks
Machinery
Installation and Testing Insurance provides cover from the moment the
machinery arrives on site, through to handover after testing. The cover
may also be extended to include the plant and equipment used for the
erection, as well as liability to Third Parties arising from the
erection of the machinery.
Contractor All Risks
Contractor All
Risks Insurance cover the object's damage or loss that being insured
during construction period and maintenance period. The cover will be
given also for third party liability during construction period.
Example: road development, bridge, building, etc.
Machinery Breakdown
Machinery
Breakdown Insurance, is designed to provide cover against unforeseen and
sudden physical loss or damage to the machinery by any cause subject to
excepted risks. Machines are an integral part of all manufacturing and
industrial units engaged in production of industrial/household goods.
These may be large industrial establishments or small and medium enterprises and any unexpected accident/breakdown to their critical machinery brings it to a standstill adversely affecting business and causing a financial strain towards repair or replacement of the affected machinery. The Machinery Breakdown Insurance offers coverage to your organization against these sudden unforeseen accidents/events Asuransi Kresna Mitra ASMI
Marine Cargo Insurance
If you import goods by land or sea, we offer All Risks cover, or
more limited cover, on equipment and machinery, from the moment it
leaves the manufacturer’s premises until it reaches your factory, or any
point in between. It’s your business, so it’s your decision. Asuransi Kresna Mitra ASMI
Money Insurance
Cash is the lifeblood of a business and its loss, through accident or theft, presents a serious setback to day-to-day operations. Cash is particularly vulnerable when being transported from one place, or one person, to another.
Our Cash Insurance indemnifies the Insured against loss of money
(cash and/or notes, or security for money) from any cause whatsoever,
except as specifically excluded, and in line with normal security
precautions specified in the policy.
Cash In Transit insurance can be arranged to meet your specific needs, including the cover of:
- Money for salaries and wages, from the time it leaves the bank, through to the time it is paid to employees
- Other money in transit, from the time it leaves the bank until it is received at your premises
- Money in transit to the bank, from the time it leaves your premise until it is paid into the bank
- Cash stored on your premises in a locked safe or strong room
- Cash on your premises in locked drawers or cabinets
- Cash in the hands of collectors, from the time of collection until it is delivered to the bank directly, or delivered to the bank via your premises Asuransi Kresna Mitra ASMI
Burglary Insurance
Our Burglary Insurance covers Theft and Burglary accompanied by
forcible and violent breaking into or out of a building, or any attempt
to do so. It also covers any damage to the insured property or premises
as a result of such action.
In the event of a claim, the policy
indemnifies the Insured for such loss by payment, reinstatement,
replacement or repair, to the extent of the essential value of the
property.
Theft of cash, goods or stocks from a business is always bad, but it’s even worse when the culprit is someone you trust.
Our Fidelity Guarantee Insurance policy indemnifies you against any financial loss suffered through acts of fraud or dishonesty by employees.
The amount guaranteed can be arranged to cover single or multiple
incidents or time periods, and on a name or occupation basis, whichever
is more suited to your needs.
The policy is regularly used to cover
employees whose occupation demands honesty and trust, especially those
who come into contact with cash or goods that can be converted into
cash.
This includes cashiers, bill collectors, bookkeepers, salesmen, store hands, storekeepers, and accountants. The policy is intended to cover full time employees, and therefore does not cover non-executive directors or trustees, brokers, factors, commission merchants, consignees, contractors or agents and similar representatives. Asuransi Kresna Mitra ASMI
Earthquake Insurance
Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property.
Most earthquake insurance policies feature a high deductible, which makes this type of insurance useful if the entire home is destroyed, but not useful if the home is merely damaged. Rates depend on location and the probability of an earthquake.
Rates may be cheaper for homes made of wood, which withstand earthquakes better than homes made of brick. Asuransi Kresna Mitra ASMI
Personal Accident Insurance
Our Personal Accident Insurance cover is tailored to suit the individual needs of the insured person. It covers any injury caused by accidental, violent or external means resulting in the death or permanent disablement of the insured person, whether at home or at work.
The Scale of Compensation Benefit for Death or Permanent
Disablement is set out in each individual policy. Cover for Temporary
Disablement and Medical Expenses can also be included.
The Personal Accident Policy, covers accidents that might happen
at home, in the course of travelling to and from work, and during sports
or social activities. Asuransi Kresna Mitra ASMI
Moveable Property All Risks Insurance
Moveable Property All Risks Insurance is policy to coverAll risk for any loss and/or damage to the insured moveable property from any cause whilst contained within the Insured premises and/or while traveling outside of the premises, whilst on the road and/or in other premises in all over Indonesia. Asuransi Kresna Mitra ASMI
Workmen’s Compensation Insurance
Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
The tradeoff between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain." Asuransi Kresna Mitra ASMIComprehensive General Insurance
CGL insurance provides coverage for property damage and injury suffered by others, as well as damages caused by libel or slander. It also covers you for damages caused by a product you manufacture or any damage caused as a result of false advertising claims.
If you own just about any type of business, you are probably at
risk of being sued for a negligent act performed by you or one of your
employees. CGL coverage provides protection if you are found liable for
negligence. Asuransi Kresna Mitra ASMI
Product Liability Insurance
Covers you from liability due to claims by consumers of bodily or
property damage caused by using your product, even though it is out of
your supervision and already in the marketplace via wholesalers and/or
retailers.
Factors that may lead to damage caused by products include:
- Design/formula: errors in calculation or inaccuracies in laboratory research
- Manufacturing/production: faulty machinery or careless workers
- Warning system: packaging, usage/handling instruction, or expiry date
Product Liability Insurance is divided into two areas:
- Product Limited Operations Liability: this covers liability while the product is still under your supervision.
- Product Completed Operations Liability: this covers liability from damages caused by using your product even if it has already reached the end user and is out of your supervision. Asuransi Kresna Mitra ASMI
Public Liability Insurance
Industry and commerce are based on a range of processes and activities that have the potential to affect third parties (members of the public, visitors, trespassers, sub-contractors, etc. who may be physically injured or whose property may be damaged or both). It varies from state to state as to whether either or both employer's liability insurance and public liability insurance have been made compulsory by law.
Regardless of compulsion, however, most organizations include public liability insurance in their insurance portfolio even though the conditions, exclusions, and warranties included within the standard policies can be a burden. A company owning an industrial facility, for instance, may buy pollution insurance to cover lawsuits resulting from environmental accidents.
Businesses must consider all potential risk exposures when deciding whether liability insurance is needed, and, if so, how much coverage is appropriate and cost-effective. Those with the greatest public liability risk exposure are occupiers of premises where large numbers of third parties frequent at leisure including shopping centers, pubs, clubs, theaters, sporting venues, markets, hotels and resorts. The risk increases dramatically when consumption of alcohol and sporting events are included. Certain industries such as security and cleaning are considered high risk by underwriters.
In some cases underwriters even refuse to insure the liability of these industries or choose to apply a large deductible in order to minimize the potential compensations. Private individuals also occupy land and engage in potentially dangerous activities. For example, a rotten branch may fall from an old tree and injure a pedestrian, and many people ride bicycles and skateboards in public places. The majority of states require motorists to carry insurance and criminalise those who drive without a valid policy.
Many also require insurance companies to provide a default fund to offer compensation to those physically injured in accidents where the driver did not have a valid policy.
Professional Indemnity
The prime objective of Professional Indemnity Insurance is to protect your assets against 3rd parties taking legal action, or threatening to take legal action against you or your firm. Asuransi Kresna Mitra ASMI
Employer’s Liability Insurance
Employers are responsible for the health and safety of their employees while they are at work. Your employees may be injured at work or they, or your former employees, may become ill as a result of their work while in your employment.
Employers’ liability insurance will enable you to meet the cost of compensation for your employees’ injuries or illness whether they are caused on or off site. Asuransi Kresna Mitra ASMI
Surety Bond Insurance
A surety bond or surety is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
In Surety Bond, when the Surety pays the loss in cash to the
Obligee for any request of claim settlement, the Principal according to
Indemnity Agreement will return the same amount to the Surety. Asuransi Kresna Mitra ASMI
Asuransi Kresna Mitra ASMI