The South Korean government will begin subsidising malpractice insurance premiums for doctors working in critical but increasingly underserved medical specialties, reported the Korea Bizwire.
The Korean insurance regulator has said that if more people cooperate no more paperwork will be necessary to submit insurance claims after a clinic visit.
The country's financial regulator has said that holders of certain types of life insurance will be able to monetize their policies and receive them as pensions to help them cover their later years of life.
South Korean parliamentarians are expected to seek responses about high premiums for flood and windstorm insurance policies from some of the leading non-life insurers according to a report in The Korean Times.
ABL Life Insurance has introduced a new trust-linked whole life insurance product geared to giving policyholders more flexibility in managing and distributing insurance benefits.
Hanwha Life Insurance is targeting the super-rich by focussing on wealth succession and setting up a family office centre in Gangnam, Seoul, to provide one-stop financial butler consulting, linking insurance, securities, and asset management functions.
In an effort to help reduce country's medical burden and improve access to healthcare the Korean Federation of Community Credit Cooperatives (KFCCC) and its affiliated foundation will fully cover insurance premiums for 477 underprivileged children and adolescents across the country.
South Korea's second largest non-life insurer DB Insurance will acquire 100% of the outstanding shares of the US based specialty insurer The Fortegra Group for KRW2.3tn ($1.65bn).
The government has doubled the maximum deposit insurance payout to KRW100m ($71,400) from 1 September 2025, against the KRW50m limit set in 2001.
South Korean insurer KB Sonbo Insurance Company will soon launch a traditional market weather damage compensation insurance cover according to an exclusive news report by https://www.chosun.com.