Perluasan Prinsip-Prinsip Good Corporate Governance dalam Perusahaan Asuransi Berdasarkan Pedoman Umum Governansi Korporat Indonesia 2021 Dikaitakan dengan POJK Nomor 43/POJK.05/2019 (Studi Pada PT BRI Asuransi Indonesia KC Medan dan PT Panin Dai-Ichi Life KC Medan)

Abstract

As the complexity of activities in the insurance industry increases, the implementation of Good Corporate Governance (GCG) principles becomes increasingly crucial to ensure the sustainability of insurance companies. This study is motivated by the differences between the GCG principles outlined in General Guidelines for Indonesian Corporate Governance 2021 and the Otoritas Jasa Keuangan Regulation No. 43/POJK.05/2019, which amends POJK No. 73/POJK.05/2016 concerning Good Corporate Governance for Insurance Companies. This study aims to address three main issues: (1) the obstacles in implementing Financial Services Authority Regulation (POJK) No. 43/POJK.05/2019 within insurance companies, (2) the perspective of insurance companies on the importance of applying ethical behavior and sustainability principles in Good Corporate Governance (GCG), and (3) the expansion of GCG principles in insurance companies based on the Indonesian Code of Corporate Governance (PUGKI) 2021 in relation to POJK No. 43/POJK.05/2019. The research method used is a normative juridical method with a descriptive-analytical specification. The data used consists of secondary data obtained through literature study and primary data collected through interviews with representatives from PT BRI Asuransi Indonesia Medan Branch Office and PT Panin Dai-ichi Life Medan Branch Office. The findings reveal that the implementation of POJK No. 43/POJK.05/2019 faces challenges such as a lack of in-depth understanding of GCG principles and the absence of GCG as a legal culture. Both companies positively view the application of ethical conduct and sustainability principles as emphasized in PUGKI 2021. The study recommends that OJK revise the current regulation by adopting the broader approach outlined in PUGKI 2021, particularly concerning ethics, transparency, accountability, and sustainability.