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Asuransi ASEI crowned as the Best General Insurance Company 2010 in the category Company with equity over IDR. 250 Billion.
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Mamber & Certification
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 Types of Credit Insurance
1. Working Capital Credit Insurance
| Credit Covered |
Working Capital Credit (Export / Non-Export) |
| Currency Used |
In Indonesian Rupiah or US Dollar |
| Terms Period of Cover |
As approved in Credit Terms of Period from the Bank, OR maximum of 12 months |
| Debtor |
Exporter / Non Exporter that own export / sales contract or sales plan |
| Credit Covered Request |
Case by Case and ASEI will issue Cover Limit to every debtor |
| Risks Covered |
Bank's potential loss from any credit approved that is caused by debtor's default to pay off the credit (collectibility 5) except credit default caused by :
- The insured (bank) does not comply with credit assessment / credit memorandum
- Loss that could be covered with other general insurance products
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| Risk Sharing |
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| Claim Submission |
Claim submission could be immediately processed after the credit's status is default |
| Claim Settlement |
The insurer will process the claim submission from the insured (bank) at the latest in 30 (thirty) days, AND will disburse the claim amount at the latest in 14 (fourteen) days since the date of Claim Payment Agreement. |
| Indemnification Percentage |
70% from the total loss being covered
Total Loss Being Covered is defined as the total remaining balance of the credit stated as default, with maximum of credit plafond. |
| Subrogation / Recovery |
- The insurer's right to collect recovery after the claim payment
- The amount of subrogation's right is equal with the amount of the claim payment
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| Insurance Cover Fee |
- Premium x Credit Limit
- Administration Fee
- Revenue stamps fee
The premium for this cover is 1,50% to 2,00 p.a
The fees will be charged from each declaration submitted by the bank.
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Credit Approval and Credit Insurance Cover Schemes
Definition:
| 1 |
2 |
3 |
| Bank's Activity |
- Credit Analysis
- Credit Approval
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- Credit Disbursement
- Declaration Submission
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- Credit Due
- Credit Extension
- Bank submit credit default
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| ASEI's Activity |
| Risk assessment for application submitted and credit cover limit issuance |
Credit Cover Note Issuance and the Insurance Cover is effective |
- Insurance Extension
- Claim Analysis
- Claim Settlement
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2. Trade Finance Insurance
| Credit Covered |
Trade Financing |
| Currency Used |
In Indonesian Rupiah or US Dollar |
| Terms Period of Cover |
As approved in Credit Acceptance, OR maximum of 6 months |
| Debtor |
Exporter / Non Exporter that own export / sales contract and have already credit limit |
| Credit Covered Request |
Case by Case and ASEI will issue Cover Limit to every debtor |
| Risks Covered |
Bank's potential loss from any credit approved that is caused by debtor's default to pay off the credit due date except credit default caused by :
- The insured (bank) does not comply with credit assessment / credit memorandum
- Loss that could be covered with other general insurance products
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| Risk Sharing |
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| Claim Submission |
Claim submission could be immediately processed after the credit's status is default |
| Claim Settlement |
The insurer will process the claim submission from the insured (bank) at the latest in 30 (thirty) days, AND will disburse the claim amount at the latest in 7 (seven) days since the date of Claim Payment Agreement |
| Indemnification Percentage |
80% from the total loss being covered
Total Loss Being Covered is defined as the total of credit covered / credit loan |
| Subrogation / Recovery |
The insurer's right to collect recovery after the claim payment
- Every recovery will proportionally distributed between ASEI and the Bank |
| Insurance Cover Fee |
Premium x Credit Limit
The premium for this cover is 0.35% for the first 3 (three) months and 0.1% for the next every one month
The fees will be charged from each declaration submitted by the bank |
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