Simplification of Actual Expense Insurance Claims and Other Insurance Legislation
8-Hour Additional Overtime System and Semiconductor Tax Credit Also Scheduled for February National Assembly Deliberation
[Asia Economy Reporters Hyunju Lee and Youngwon Kim] The People Power Party announced that it will prioritize the passage of key livelihood bills, including the Jeonse fraud prevention law and the simplification of claims for indemnity insurance, with the opening of the February extraordinary session of the National Assembly.
Sung Il-jong, chairman of the People Power Party's Policy Committee, said at the emergency committee meeting held at the National Assembly on the 2nd, "The People Power Party will no longer allow the National Assembly to be used as a tool for Lee Jae-myung of the Democratic Party," adding, "We will swiftly pass the laws that the people need and make it a true livelihood-focused National Assembly."
Sung Il-jong, Chairman of the Policy Committee of the People Power Party, is speaking at the 'Regulatory Reform Promotion Team Industrial Small and Medium Venture Subcommittee Current Issues Meeting' held at the National Assembly on the 18th. Photo by Yoon Dong-joo doso7@
The People Power Party emphasized that it will focus on passing ▲ six major bills to prevent Jeonse fraud ▲ and the Insurance Business Act for simplifying indemnity insurance claims.
Chairman Sung said, "Bills to prevent Jeonse fraud, such as confirming landlords' delinquency information, are currently pending in the National Assembly," adding, "If we truly care for the people, this law must be passed quickly first."
He continued, "The same applies to the simplification of indemnity insurance," pointing out, "This bill has been pending in the National Assembly for 14 years." According to Chairman Sung, indemnity insurance claims that were not filed due to small amounts or complicated claim procedures are estimated to total about 740 billion KRW from 2020 to 2022.
Floor leader Joo Ho-young also said at the meeting, "Judging by the Democratic Party's various attitudes, the February extraordinary session is increasingly likely to become a political conflict session rather than a livelihood session," but emphasized, "Various regulations, such as the law extending working hours by an additional 8 hours and tax benefits of up to 25% to secure semiconductor competitiveness, must also be reformed."
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