PT Jasa Raharja (Persero)

Jasa Raharja (insurance company) as one of the state owned company was established on the 1st of January 1965 based on Government Regulation No.8 of the year 1965 with its primary duty to execute Act No.33 of the year 1954 to assist the victims of land, sea and air transportation accidents, as well as Act No.34 of the year 1964 to assist victims of traffic accidents caused by motorized vehicles, accidents involving two or more vehicles as well as train accidents. In 1970, the government promoted Jasa Raharja’s status from a state company to a public company. Later in 1980, based on Government Mandate No.39 of the year 1980, Jasa Raharja’s status was again change to a partnership company with the name of PT Asuransi Kerugian Jasa Raharja. In 1978, Jasa Raharja was responsible for issuing guarantee in form of surety bonds. This responsibility ended in 1994 along with the issue of Act No.2 of the year 1992 regarding insurance companies, which prohibit any insurance company that has carried out social insurance programs to conduct any other form of insurance. Based on this regulation, starting from 1st of January 1994, Jasa Raharja relinquished its non-obligatory business and surety bond to focus on social insurance programs namely to organize Passenger Accident Liability Obligation fund as regulated in the Act. 33 1964 and Road Traffic Accident Fund as provided in the Act. 1964 34.