MEDAN | INDATANEWS.COM - The Deposit Insurance Corporation (Lembaga Penjamin Simpanan/LPS) held a Media Gathering in Medan, North Sumatra, on Sunday, May 3, 2026, aiming to strengthen collaboration with regional media and enhance public financial literacy.
The event also served as a strategic platform to reinforce LPS communication efforts in expanding financial education across communities, particularly through media partnerships.
Media Partnership for Financial Education
The gathering was officially opened by Deputy Chair of the LPS Board of Commissioners, Farid Azhar Nasution. Around 30 representatives from regional media outlets across North Sumatra participated in the discussion forum.
The session emphasized the importance of media as a key bridge in disseminating accurate financial information to the public, while also strengthening cooperation between LPS and local journalists in supporting financial awareness campaigns.
Insurance Policy Guarantee Program StrengthenedMember of the LPS Board of Commissioners overseeing the Insurance Policy Guarantee Program (Program Penjaminan Polis/PPP), Ferdinan D. Purba, highlighted the strategic importance of the initiative, which is mandated by the state.
He explained that the program is designed to enhance public trust in the insurance sector while supporting industry growth in Indonesia.
"The insurance industry has strong growth potential. In 2020, the ratio of insurance assets to Gross Domestic Product (GDP) was still at 4.6 percent," Ferdinan stated.
Towards Risk-Minimizer Model under P2SK LawFerdinan further noted that designing the PPP framework is complex due to varying insurance structures across countries. International practices show that robust policyholder protection systems remain essential even when insurance companies fail.
He referred to global models such as Paybox, Paybox Plus, Loss Minimizer, and Risk Minimizer, identified in the 2023 International Forum of Insurance Guarantee Schemes (IFIGS) study.
Under the implementation of Law No. 4 of 2023 on Financial Sector Development and Strengthening (P2SK Law), LPS is preparing to adopt the Risk-Minimizer model as the most comprehensive approach. This model aims to provide maximum protection for policyholders while ensuring the stability of the national insurance industry.
LPS is also drafting technical regulations covering membership structure, coverage scope, guarantee limits, and insurance company contribution mechanisms.
"The implementation of the PPP marks an important milestone in strengthening Indonesia's insurance sector. We will prepare this program carefully to enhance trust, protect policyholders, and maintain sector stability," Ferdinan concluded. (IDNC)
REPORTER:
Budi Hermansyah | EDITOR:
Fik Sagala