OJK Launches Insurance to Protect Gold and Precious Metals

Gold insurance (Doc. Ist)

Printable.biz.id – The Chief Executive of Insurance, Guarantee, and Pension Fund Supervision at OJK, Ogi Prastomiyono, announced that a specialized insurance product is now available to support the bullion business in Indonesia.

This insurance is designed to protect gold and precious metals, whether stored or in transit. There are two main types of coverage offered:

1. Cash in Safe

This insurance provides protection for gold and precious metals stored in a secure location. It is crucial for business owners or individuals who store large amounts of gold, as risks such as theft or fire can occur at any time.

2. Cash in Transit

This coverage applies when gold and precious metals are in the process of being transported, whether by land, sea, or air. With this insurance, the risk of loss or damage during transit can be minimized.

In addition to these two types of insurance, there is also burglary insurance, which protects valuable assets from the risk of theft involving a break-in.

Ogi explained that this insurance product falls under the category of miscellaneous insurance available in Indonesia's general insurance industry.

Given the rising price of gold, the threats to the bullion business are also increasing. Therefore, this protection is a crucial step in ensuring the security of valuable assets owned by business players in this sector.