KASUS PELANGGARAN ETIKA BISNIS : PT ASURANSI JIWASRAYA

Summary

This video script discusses the ethical violations in the case of PT Asuransi Jiwasraya, a government-owned insurance company in Indonesia. It highlights significant issues including dishonesty in asset reporting, unfair treatment of policyholders, and a lack of integrity in investments. The company’s management, shareholders, and government bodies are all identified as responsible parties in the financial crisis that led to a significant loss. The script explores the ethical problems under principles such as utilitarianism, rights, justice, and care. Finally, proposed solutions include improved corporate governance and the use of automated systems to prevent future violations.

Takeaways

• 😀 The Jiwasraya Insurance case is an example of severe business ethics violations, involving dishonesty, unfairness, and a lack of integrity in managing company assets.
• 😀 PT Asuransi Jiwasraya was established in 1859 with the noble goal of educating society on financial planning, but it later became a symbol of corporate failure and ethics violations.
• 😀 The financial mismanagement by Jiwasraya led to a loss of 13.7 trillion rupiahs for the country, affecting not only the company but also its clients and the broader public's trust.
• 😀 The five main parties involved in the Jiwasraya scandal were: Jiwasraya's management, shareholders, the Indonesian government, the policyholders, and the general public.
• 😀 Key ethical issues in the Jiwasraya case include dishonesty in financial reporting, injustice toward policyholders, and lack of integrity in investment decisions.
• 😀 Jiwasraya's failure to report accurate assets and liabilities violated ethical expectations from stakeholders, damaging trust and creating financial instability.
• 😀 The company acted unjustly by delaying insurance claim payouts, severely affecting policyholders who depended on the company to fulfill their contractual obligations.
• 😀 Jiwasraya's poor investment decisions, including buying low-performing stocks, led to liquidity pressures, exacerbating financial instability and the inability to pay out claims.
• 😀 The ethical principles violated include utilitarianism (high costs to society), rights (denying policyholders their right to claim), justice (unfair treatment of stakeholders), and care (neglecting customers' trust).
• 😀 To prevent similar cases in the future, solutions include strengthening corporate governance, creating audit committees, and implementing transparent systems such as automated trading and whistleblowing mechanisms.

Q & A

What is the main issue discussed in the case of PT Asuransi Jiwasraya?

The main issue discussed is a violation of business ethics by PT Asuransi Jiwasraya, including dishonesty, unfairness, and lack of integrity, which led to financial losses and a failure to meet obligations to policyholders.

What ethical principles were violated by PT Asuransi Jiwasraya?

PT Asuransi Jiwasraya violated several ethical principles, including honesty, fairness, and integrity. They failed to report their assets and liabilities truthfully, treated policyholders unfairly by delaying claims, and lacked the integrity to manage investments responsibly.

How did the management of PT Asuransi Jiwasraya attempt to address the company's financial crisis?

The management of PT Asuransi Jiwasraya attempted to address the financial crisis by revaluing assets and transferring some of the liabilities to a reinsurance company, although these were short-term measures that did not solve the underlying issues.

What role did the government play in the PT Asuransi Jiwasraya case?

The government, particularly the Ministry of State-Owned Enterprises (BUMN), was criticized for being slow to act in addressing the solvency deficit of PT Asuransi Jiwasraya, which contributed to the company's financial decline.

How much financial loss did PT Asuransi Jiwasraya incur?

PT Asuransi Jiwasraya incurred financial losses of up to 13.7 trillion Rupiah, a significant amount that impacted the state’s finances.

What ethical issue arose regarding the policyholders of PT Asuransi Jiwasraya?

The main ethical issue regarding the policyholders was that PT Asuransi Jiwasraya delayed payments on insurance claims, violating the trust of the customers who had invested their money in the company.

What were the ethical violations under the principle of fairness?

Under the principle of fairness, PT Asuransi Jiwasraya was considered unfair because it failed to meet its obligations to policyholders, resulting in delayed claim payments, thus harming customers who were entitled to timely benefits.

How did PT Asuransi Jiwasraya violate the principle of integrity?

PT Asuransi Jiwasraya violated the principle of integrity by making poor investment decisions, including investing in underperforming stocks, which negatively impacted the company’s financial stability and led to liquidity problems.

What solutions were proposed to prevent similar ethical violations in the future?

Solutions proposed to prevent similar issues include forming audit committees, implementing improved risk management systems, using automated trading systems, and creating a whistleblower system for reporting unethical behavior.

What can be learned from the PT Asuransi Jiwasraya case about business ethics?

The PT Asuransi Jiwasraya case highlights the importance of honesty, transparency, and careful management in the business, especially in sectors like insurance where trust and financial stability are crucial to maintaining customer confidence.