Regulatory Alerts2010-12-23
Circular Letter No.12/35/DPNP on Risk Management in Bancassurance Cooperation
Bank Indonesia issued Circular Letter No.12/35/DPNP to establish risk management standards for marketing cooperation between commercial banks and insurance companies. The regulation mandates that participating institutions implement robust governance frameworks to mitigate operational, credit, and reputational risks inherent in bancassurance activities. It requires banks and insurers to clearly define their respective responsibilities and ensure adequate consumer protection measures are in place.
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