It becomes easier to subscribe to fire insurance for’special buildings’ such as academies and multiple facilities.

Introduced a fire insurance subscription inquiry system and joint acquisition of insurance companies from May

(Seoul = Yonhap News) Reporter Kim Yeon-sook = Starting in May, it will be easy and convenient to subscribe to fire insurance for’special buildings’ that are damaged by fires such as multi-use facilities, high-rise buildings, academies and schools, agricultural and fishery wholesale markets, etc.

The Financial Services Commission announced on the 2nd that it will establish a fire insurance application inquiry system to eliminate the blind spots of non-fire insurance in special buildings, and improve the system so that multiple insurance companies can jointly take over contracts for buildings with high fire risk.

It is a part of the policy to strengthen the function of insurance’s private safety net as disclosed in this year’s work plan.

Fire insurance is compulsory for special buildings in which there is a high risk of loss of life and property in the event of a fire and many people enter, work, or reside in it.

However, in the places where the insurance subscription procedure is inconvenient and the risk is high, the proportion of special buildings that do not subscribe to fire insurance also reaches 7% as insurance companies avoid taking over.

To improve this, a fire insurance subscription inquiry system is prepared.

Now, in order for the owners of special buildings, such as self-employed and small and medium-sized businesses, to subscribe to fire insurance, they must check whether they can subscribe to multiple insurance companies, but once the inquiry system is in place, even if they apply for subscription to one insurance company, other insurance companies also request details of the application. You will be able to search.

Even if the insurance company that originally applied for subscription rejects the contract, other insurance companies can check the subscription application information and proceed with insurance subscription quickly and conveniently.

In addition, the Financial Services Commission approved the signing of a mutual agreement between insurance companies for joint acquisition of fire insurance.

Some special buildings with high risk, such as chemical factories, aim to improve the problem of insurance companies avoiding contracts.

In the future, the fire insurance association will automatically jointly take over and subscribe to the fire insurance subscription application that has not been taken over by the individual insurance company through the inquiry system. In this case, insurance premiums are borne according to the fire insurance rate for each building and business, as in the case of a single insurance contract.

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2021/02/02 12:00 sent