ANALISIS YURIDIS SISTEM PENGAWASAN OJK TERHADAP PRODUK PERUSAHAAN ASURANSI DALAM PENCEGAHAN KASUS GAGAL BAYAR

In article 1 paragraph 1 of Law No. 21 of 2011 concerning the OJK, it is stated that the OJK is an independent institution and is free from interference from other parties, which has the functions, duties, and authorities of regulation, supervision, inspection, and investigation. The purpose of establishing the OJK is to ensure that all financial services activities in the financial services sector are carried out in an orderly, fair, transparent, accountable manner, and can create a financial system that grows sustainably, is stable, and is able to protect the interests of consumers in particular and the interests of society in general. Lately, there are many problems related to default cases on insurance products that afflict large insurance companies, such as PT Jiwasraya (Persero), Kresna Life, which previously had the same case with PT Bakrie Life. This study aims to find out how the Financial Services Authority (OJK) supervisory system for insurance company products in preventing cases of default and the urgency of OJK supervision on insurance company products as a prevention of default cases. This research is a type of normative legal research, using a statute approach and a case approach. Based on the results of research and discussion, it is known that OJK is still not optimal and optimal in carrying out supervision of insurance companies as evidenced by cases of default in insurance companies that occur due to the same factor, namely low solvency levels, insurance companies do not use the principle of prudence in carrying out their duties. investment, as well as the reform of IKNB in supervision which is one of the focuses carried out by the OJK in 2020. Therefore, it is necessary to intensify preventive efforts to the evaluation of insurance products in the supervision system carried out by the OJK in accordance with statutory regulations