The Bankruptcy Bill No. 4 /1998 coming into affect on August 20th 1998, it has given a law certainty for the benefit of businesses in the settlement of debit and credit transactions fairly, fast, transparent and effective. These objectives fit with the function of bankruptcy court which has given the certainty guarantee in the settlement of debit and credit transaction for debtors as well as creditors. In line with the needs of the businesses the Bankruptcy Bill No. 4 /1998 has been changed and improved and is promulgated as Bill No. 37/2004 on Bankruptcy and Delay Debt Payment Obligation. One of the basic matters added in to the new bill is the awarding of an "ad hoc Right" in the request of bankruptcy pronouncement towards insurance companies which only can be carried out by the Minister of Finance, because the insurance businesses are closely related with the public interests. Beside the "ad hoc Right", Bill No. 37/2004 also elaborates the meaning of debt, considering the debt is the major requirement in the request of bankruptcy pronouncement. But in this bill the meaning of the debt does not include the due date and claimable concept of a debt which is a complementary requirement for a debt to be requested for bankruptcy pronouncement in a bankruptcy court. Due date and claimable debt concept in insurance business has a different treatment compared to that of the due date and claimable debt concept in common companies. This thesis discusses the concept of a debt in insurance business and how far due date and claimable debt concept in insurance companies as legal considerations for an insurance company to be requested to pronounce bankrupt to the bankruptcy court