mini insurance Archives | Be Korea-savvy

‘Mini Insurance’ Plans Coming Next Month

SEOUL, May 26 (Korea Bizwire) — So-called ‘mini insurance’ plans for small amounts and short terms that provide guarantees for various kinds of risks in everyday life, covering the areas of pet animal insurance, leisure and travel insurance and weather insurance, will be introduced next month. The Financial Services Commission (FSC) announced on Tuesday that [...]

Financial Authorities to Ease Minimum Paid-in Capital Requirements to Promote ‘Mini Insurance’ Market

SEOUL, Feb. 5 (Korea Bizwire) — The minimum paid-in capital requirements for the establishment of insurance companies will be greatly eased to stimulate the market for ‘mini insurance’ businesses that specialize in everyday life-related insurance products such as policies for pets and travelers, South Korea’s financial authorities said Thursday. The Financial Services Commission announced that it will [...]