[아이뉴스24 허재영 기자] Ineligible medical insurance premiums are expected to increase by about 10% next year. Insurance companies agreed that a 20% or more increase was inevitable due to the chronic deficit, but the financial authorities put a brake on it. Despite the double-digit increase, insurance companies are complaining about the lack of deficit. Even though most of the subscribers didn’t claim insurance, their premiums went up.
According to industry sources on the 24th, the Financial Services Commission recently informally delivered an opinion of the increase rate of real-life insurance premiums to each insurance company. It suggested a plan to raise 15-17% of pretext non-life insurance sold before 2009, and 10-12% of standardized non-life insurance sold from 2009 to 2017. It is reported that the new real loss insurance, introduced in 2017, has been requested to be frozen.
If the opinion of the Financial Services Commission is reflected, each insurance company plans to announce a 10% increase in insurance premiums to policyholders who plan to renew their real-life insurance in January next year.
The insurance industry has argued that a 20% increase in premiums next year is inevitable due to the snowballing deficit. Accordingly, some insurance companies have sent notices that standardized loss losses can be increased by up to 20%, and faithful losses by up to 10%, to subscribers who are about to renew in January next year.
In fact, last year’s real-life insurance risk loss amounted to KRW 2.8 trillion, and the risk loss rate was 133.9%, the highest since 2016’s 131.3%. The risk loss ratio in the first half of this year was 131.7%, an increase of 2.6 percentage points from the previous year, and there was a risk loss of about 1.4 trillion won. If the risk loss rate exceeds 100%, it means that there is more money out of insurance than the money paid by the subscriber.
Contrary to the wishes of insurance companies, the increase rate was lowered to the 10% level as the authorities put the brakes on. In principle, insurance premiums can be set autonomously by each insurance company, but in reality, the authorities directly or indirectly intervene.
Last year, insurers agreed that they needed a double-digit premium increase this year, but due to the intervention of the authorities, the average of pretext and standardized indemnity insurance increased by 9.9%, and the average in new loss was reduced by 9.9%.
Although the double-digit increase has been confirmed, insurance companies are complaining about the lack of improvement in the loss ratio. With a 10% increase rate, the current situation may be repeated next year.
Subscribers’ complaints are also expected to increase. Most subscribers rarely claim insurance, but this is because premiums go up. According to the Financial Services Commission, as of 2018, 65.7% of all subscribers did not claim insurance at all.
An official in the insurance industry said, “It is in a situation that we need to improve the width of the deficit by significantly raising the loss insurance premiums, but due to the provisions of the authorities, it has only been raised in half.” I can.”
Reporter Heo Jae-young [email protected]