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Wednesday, 13 May 2020, 17:00 HKT/SGT

Source: PT Asuransi Jasa Indonesia
Asuransi Jasindo Committed to Settling the Palapa N1 (Nusantara Dua) Satellite Claim

JAKARTA, May 13, 2020 - (ACN Newswire) - PT Asuransi Jasa Indonesia, or Asuransi Jasindo, is ready to assist the claims process for the launch and in-flight insurance of the Palapa N1 Nusantara Dua Satellite, owned by client PT Palapa Satelit Nusa Sejahtera (PSNS). This was confirmed by Asuransi Jasindo's Operations Director Dodi Susanto.

"We are truly sorry that the Satellite Nusantara Dua launch failed. We will stand beside our client PSNS, and will assist PSNS especially on settling the claim," said Dodi.

The Nusantara Dua Satellite launch took place at the Xichang Satellite Launch Center (XLSC), Xichang, China, on April 9. Unfortunately, the Third Stage Launch Vehicle failed and the satellite was lost. As the news was announced, Asuransi Jasindo immediately coordinated both internal and external stakeholders (clients, reinsurance brokers and reinsurers) to handle the claim and to ensure the value of the claim is fullfiled.

"Asuransi Jasindo is in the process of analyzing the information relating to the terms and conditions agreed upon in the insurance policy," Dodi continued. "Asuransi Jasindo is waiting for further supporting claims documents. These documents will be formally submitted by PSNS as soon as additional information is available."

"The claims team of Asuransi Jasindo will immediately conduct a claims analysis and coordinate with the reinsurance broker and reinsurers. It is expected that the required data related to the claims will be available in a relatively short period of time," Dodi said.

Dodi said that Asuransi Jasindo was always committed to settling claims, particularly in such a specialty risk category, in accordance with the terms and conditions of the policy. The claims will be processed in an effective, precise and fast manner.

"We are a state-owned general insurance with experience in handling specialty risk insurance, such as satellite, aviation and offshore energy insurance. Last year alone we completed claims payments of IDR 876 billion for the offshore industry," Dodi said.

"Since 1976, we have handled the insurance for 20 satellite launches and have settled satellite insurance claims of around USD 567 million."

Dodi believes that Asuransi Jasindo always prioritizes prudent business processes, including the selection of reinsurers with international ratings and cooperation with global reinsurance brokers that have strong reputations.

Ario Radityo
Corporate Secretary
Asuransi Jasindo
+62 81 1118 941

May 13, 2020 17:00 HKT/SGT
Topic: Press release summary
Sectors: Broadcast, Banking
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