THE INSURER IS MANDATORY TO PAY THE INSURED VALUE IF THE REQUIREMENTS FOR PAYING THE INSURED VALUE TO THE INSURED HAVE BEEN FULFILLED

The Supreme Court stated that it is a legal principle that the insurance value in insurance law, if the conditions for paying the insurance value to the Insured have been fulfilled, then it becomes a legal obligation for the Insurer to pay the insurance value, in accordance with the insurance coverage agreement, and the Insured will also pay the policy payment. Insurers who do not pay the insured amount are breaking their promise/default.

—> Supreme Court Decision No. 147 K/Pdt/2014 dated 17 July 2014.

Source: https://putusan3.mahkamahagung.go.id/direktori/bangunan/0d1254623fd3e99779191815d63c3e29.html

Regards,

Fredrik J Pinakunary