The Directorate General of State Assets (DJKN) of the Ministry of Finance is targeting to insure the buildings of 10 ministries and institutions this year, but to date, two agencies have yet to submit a list of building assets for insurance coverage.
“From the target of 10, there are eight that are ready and have submitted their applications for insurance of building assets,” said Mr Encep Sudarwan, director of Property Assets at DJKN.
According to a report by Inside Indonesia, the eight government entities are:
Regional Representative Council (DPD),
Meteorology, Climatology and Geophysics Agency (BMKG),
National Defence Agency (Lemhanas),
Financial and Development Supervisory Agency (BPKP),
Television Republic of Indonesia (TVRI),
Leabaga Government Goods / Services Procurement Policy (LKPP),
Ministry of Transportation (Kemenhub), and
National Development Planning Agency (Bappenas).
Currently, the DJKN is assessing the value of the assets owned by the eight government entities so as to determine the amount of insurance.
The insurance will be provided by a consortium. Last year, the consortium signed an agreement with the government to insure 1,360 buildings owned by the Finance Ministry valued at IDR10.84tn ($769m) with effect from 1 December 2019. The Finance Minister has directed that the assets of other government entities are to be insured as well, apart from the 10 selected for this year.