Andong City Implements Safety Insurance... Coverage Up to 15 Million KRW

Photo by Andong City

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheolin] Andong City in Gyeongbuk announced on the 23rd that it will implement a citizen safety insurance system that provides up to 15 million KRW in compensation for damages caused by various disasters.

The coverage amount for 9 items ranges from 10 million to 15 million KRW, and will be applied starting from the 1st of next month.

Anyone registered as an Andong citizen in the resident registration can receive compensation regardless of the accident location. It is possible to receive overlapping compensation separately from personal insurance.

The coverage items include death by natural disaster injury, death by explosion/fire/collapse injury, permanent disability after explosion/fire/collapse injury, death by injury while using public transportation, and death by agricultural machinery accident injury.

Death compensation ranges from 10 million to 15 million KRW. Permanent disability compensation is available within 10 million to 15 million KRW depending on the degree of injury. Those under 15 years old are excluded from death coverage according to Article 732 of the Commercial Act.

Andong City stated, "Due to the nature of safety insurance, interpretation of terms and conditions can be complicated," and added, "For detailed coverage amounts and terms, please refer to the city hall website."