Specifically, some insurers were found to have conducted telephone marketing campaigns, claiming that cancer insurance was necessary due to the potential spread of radiation from the Fukushima nuclear power plant, leading to an increased risk of cancer in Korea in the future. (Image courtesy of Pixabay)
SEOUL, June 29 (Korea Bizwire) — Financial regulators have issued a strong warning to certain insurers for engaging in unethical practices by promoting insurance sales based on the Fukushima nuclear disaster and the potential increase in cancer rates due to contaminated water discharge.
The Financial Services Commission and the Financial Supervisory Service announced on Thursday their firm stance against unfair solicitation tactics employed by these insurers.
Specifically, some insurers were found to have conducted telephone marketing campaigns, claiming that cancer insurance was necessary due to the potential spread of radiation from the Fukushima nuclear power plant, leading to an increased risk of cancer in Korea in the future.
In response, the financial regulators urged the insurers to cease such unsafe business practices immediately and take measures to prevent their recurrence.
Furthermore, an internal control meeting was held with insurance company auditors to emphasize the implementation of stringent internal controls, aiming to prevent the dissemination of exploitative marketing that capitalizes on public anxiety.
The financial regulator stated its commitment to closely monitoring sales activities that generate consumer anxiety based on unscientific information. If any violations of the Financial Consumer Protection Act are identified during this process, prompt inspections and strict actions will be taken accordingly.
M. H. Lee (mhlee@koreabizwire.com)
