Efektivitas Bentuk Perlindungan Hukum terhadap Pemegang Polis Asuransi Jiwa Kresna Pasca Putusan Kasasi

Abstract Kresna Life Insurance is a company that has been handed down a Suspension of Debt Payment ruling by a commercial court judge. In that case, the Suspension applicant is the policyholder, who, based on Law No. 37 of 2004, does not have the power to submit an application. However, the Suspension ended with the ratification of a peace agreement (homologation) between Kresna Life Insurance and the policyholder. In the interim, other creditors who do not agree with the homologated agreement filed an appeal to cancel it at the cassation level. The Supreme Court also granted the appeal and decided that the Kresna Life Insurance Suspension was null and void. This study examines the legal implications of the cassation decision on the Kresna Life Insurance policyholder and the effectiveness of the form of legal protection for policyholders after the cassation decision. This study is normative research using secondary data in the form of laws, regulations, and court decisions. The results of this study state that the cassation decision has resulted in the agreement, which is the basis for the policyholder to demand insurance payments to be cancelled. This is detrimental to policyholders because they do not get certainty of paying their debts. To ensure the effectiveness of legal protection for policyholders, improvements are needed, such as the need to improve regulations related to unit link insurance ranging from governance and transparency to optimizing the legal protection system for policyholders and realizing the establishment of an Insurance Policy Guarantee Agency. Keywords: insurance; bankruptcy; suspension of debt payment obligations; Kresna Life Insuranc