Regulator ready to design fire insurance pool in IndonesiaPosted On: Oct. 6, 2015 12:00 AM CST
Indonesia's Financial Services Authority is ready to design a fire insurance pool to help the government mitigate risks arising from forest and land fires, reported Tempo.co.
Dumoly F Pardede, an official at the authority, said that the insurance pool would pay claims for firms hit by regular forest and land fires. Forest concession firms, plantations, fishery industries can join the pool. An official said that forest fires cost the country's Sumatra and Kalimantan islands over 20 trillion Indonesian rupiahs ($1.4 billion) in 2014.