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President Joko Widodo states the government has yet to discuss the Financial Services Authority’s (OJK) proposed mandatory insurance policy for motorized vehicles set for 2025.

The Indonesian General Insurance Association (AAUI) anticipates hurdles for the upcoming mandatory vehicle insurance policy set to launch in January 2025, citing low financial literacy and limited insurance penetration as potential obstacles.

The Financial Services Authority (OJK) has clarified that the implementation of mandatory vehicle insurance in Indonesia, initially slated for January 2025, is pending the issuance of government regulations. The specific start date and other details are still being drafted.

The Financial Services Authority (OJK) is set to make third-party liability (TPL) insurance mandatory for all motor vehicles in Indonesia, including motorcycles and cars, by January 2025.

The Financial Services Authority (OJK) has postponed the implementation of mandatory third-party liability (TPL) insurance for vehicles, awaiting a supporting government regulation. The program is outlined in Law No. 4 of 2023.