The Insurance Coverage Verification Letter is a crucial document in Indonesian business operations, governed by Law No. 40 of 2014 on Insurance and relevant OJK regulations. This document is typically required when a third party needs formal confirmation of insurance coverage, such as during business transactions, loan applications, or contract bidding processes. The letter serves as official evidence that specific insurance coverage is in place, active, and meets required standards. It includes essential details such as policy numbers, coverage limits, validity periods, and specific terms as mandated by Indonesian insurance regulations. The document helps manage risk and ensure compliance in business relationships while providing a standardized format for insurance verification under Indonesian law.
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1. Letter Header: Insurance company's letterhead, date, reference number, and recipient details
2. Subject Line: Clear indication that this is an Insurance Coverage Verification Letter
3. Policyholder Information: Full name and details of the insured party/policyholder
4. Policy Details: Policy number, type of coverage, and period of insurance
5. Coverage Confirmation: Explicit statement confirming active coverage status and basic coverage details
6. Coverage Limits: Specification of insurance limits and any applicable deductibles
7. Authorizing Statement: Statement of authority from the insurance company to issue this verification
8. Contact Information: Details of the insurance company representative for follow-up queries
9. Signature Block: Authorized signatory details and company stamp
1. Additional Insured Parties: Section listing any additional parties covered under the policy, if applicable
2. Special Endorsements: Details of any special coverage modifications or endorsements, if any
3. Claims History: Brief summary of claims history if specifically requested
4. Premium Status: Confirmation of premium payment status, if relevant to the verification purpose
5. Territorial Limits: Specification of geographical coverage areas, particularly important for international coverage
6. Exclusions Statement: Notable exclusions or limitations, if relevant to the verification purpose
1. Copy of Policy Schedule: Detailed schedule showing all coverage types and limits
2. Certificate of Insurance: Standard certificate of insurance if required
3. Premium Payment Receipt: Proof of latest premium payment if relevant
4. Special Endorsement Documents: Copies of any special endorsements referenced in the letter
Authors
Relevant legal definitions
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Relevant Industries
Banking and Financial Services
Construction and Real Estate
Manufacturing
Transportation and Logistics
Healthcare
Education
Retail
Professional Services
Energy and Resources
Information Technology
Agriculture
Maritime and Shipping
Aviation
Hospitality
Relevant Teams
Legal
Risk Management
Compliance
Finance
Operations
Procurement
Human Resources
Insurance
Claims
Corporate Services
Facilities Management
Project Management
Business Development
Contract Administration
Relevant Roles
Risk Manager
Insurance Underwriter
Compliance Officer
Legal Counsel
Contract Administrator
Project Manager
Procurement Manager
Financial Controller
Insurance Claims Manager
Business Development Manager
Operations Director
Chief Financial Officer
Insurance Broker
Account Manager
Corporate Secretary
Facility Manager
Health and Safety Officer
Human Resources Director
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