Pada awalnya, ketentuan ini diberlakukan pada polis hasil pertanian (crop insurance) dimana untuk harga pertanggungan (sum insured) lebih besar atau sama dengan 75% dari Value At Risk (VAR) maka untuk setiap kerugian (loss) tidak akan dikenakan average.

First loss insurance policy adalah jenis polis yang dipakai dalam industri asuransi dimana harga pertanggungan (sum insured) tidak ditetapkan sebesar nilai keseluruhan risiko namun dibatasi pada suatu nilai tertentu yang lebih kecil dari itu. Mengapa nilai pertanggungan ini dibatasi ?. Alasannya karena tertanggung menyakini bahwa nilai maksimum kerugian yang mungkin ia alami tidak akan mencapai nilai total risiko yang sebenarnya.

Dengan mengesampingkan perhitungan manfaat meninggal dunia maupun rider lainnya pada produk asuransi unit link, kita bisa mengetahui kinerja dana investasi melalui perhitungan unit investasi yang kemudian dapat dibuat potensi return disetahunkan.

Unit-linked insurance nowadays become a most popular life insurance product which offer more flexibility to policyholder in choosing investment instrument rather than traditional life insurance product. The investment options vary, started from the most secure instrument such as cash fund to the highest risk ones like equity or stock exchange instruments. The period of unit link insurance also can varies, but usually it takes minimum 5 year renewable contract. The minimum and maximum age of policyholder at the inception date of insurance is also usually stipulated in policy conditions.

Machinery insurance is one of the most well known engineering products which has given important contribution to a various types of manufacturing process for many years. A long-time existence of machinery insurance in supporting business cycles has been recognized for all type of industry scale. This insurance is not only appropiate for largely automatic industrial plants but also for small and medium companies. They have same problem with the possibility of risk emerged in the manufacturing process to their plants that may affect to serious economic and financial loss.

The strategic alliance between insurance companies and banks have produced many type of combined bancassurance products. One of them is ATM Card Insurance which has been issued by one of the Indonesia joint-venture general insurance companies. This genuine product was designed to cover ATM cardholders issued by one of Indonesia private banks and claimed as the only ATM card insurance product in Indonesia up to now. 

The latest version of Indonesia Fire Insurance Policy consists of 4 (four) Chapters and 25 (twenty-five) Articles. This policy is classified as “named policy” rather than “all risks policy” which contains both insured perils and excepted perils.

Dalam praktek industri asuransi biasa dikenal istilah refund komisi yang dikenakan kepada tenaga pemasar atau agen asuransi manakala polis asuransi dibatalkan di tengah periode pertanggungan dimana dalam setiap endorsment pembatalan polis biasanya terdapat lembar nota debit komisi atau insentif yang berisi nilai komisi agen yang harus dikembalikan ke perusahaan asuransi. Tulisan ini akan membahas kemungkinan penghapusan ketentuan ini pada produk asuransi kendaraan bermotor berdasarkan wording PSAKBI AAUI 2007.