Problems relating to Trade and Investment on Indonesia
15. Price controls |
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Issue |
Issue details |
Requests |
Reference |
| (1) Inadequacy in the Introduction Procedures for the Price Control Scheme on Non-Life Insurance | - When GOI introduced compulsory price control (tariff) on fire insurance and car insurance, insurance companies could not cordon enough time to explain it to their customers previously because the regulation was promulgated at short notice. In addition, the discount scheme trigged upon satisfaction of certain conditions was notified prematurely in advance of the schedule of its application. Thus, abrupt change by the authority has impacted upon the scheduled budget. | - In introduction of new regulation, it is requested that GOI ensures securing enforceability and transparency by making available opportunity to exchange dialogues with the concerned parties, such as foreign fund insurance carriers, accounting auditors, etc., gives sufficient information, and endeavours to assure effectiveness and maintenance of transparency. | |
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