Gyeonggi-do Launches Nation's First 'Climate Insurance' in March to Support Residents' Climate-Related Health Damage

Gyeonggi Province will introduce the nation’s first-ever ‘Gyeonggi Climate Insurance’ in March to protect the health and safety of its residents from the climate crisis.

On the 13th, Gyeonggi Province announced that it plans to proceed with insurance contract procedures, including recruiting insurance companies to operate the Gyeonggi Climate Insurance through a public bidding process in January.

Developed and planned independently by Gyeonggi Province, the Gyeonggi Climate Insurance is the first policy insurance in the country to support health damages caused by climate. It focuses on minimizing damage to residents from heatwaves, cold waves, and other climate events, as well as closing the climate gap through additional support for vulnerable groups.

The Gyeonggi Climate Insurance will be operated with an automatic enrollment system for 14 million residents without requiring a separate subscription process. Major coverage includes ▲diagnosis fees for heat-related and cold-related illnesses ▲diagnosis fees for infectious diseases ▲accident consolation money for injuries lasting more than four weeks related to weather warnings.

In particular, for about 160,000 climate-vulnerable individuals (those targeted by health management projects at city and county public health centers), additional support will be provided for hospitalization costs due to heat and cold illnesses, transportation costs to medical institutions during weather warnings, ambulance transfer costs after climate disasters, and mental health damage related to climate disasters.

Gyeonggi Province is investing 3.4 billion KRW in this climate insurance. Governor Kim Dong-yeon previously promised to support climate insurance enrollment for all residents at the ‘Press Conference on Key Tasks for the Second Half of the 8th Term’ in August. Since then, Gyeonggi Province has been working on preliminary preparations for climate insurance support, including securing budgets and revising related ordinances.

Gyeonggi Province plans to actively promote the climate insurance to residents through various channels such as G Bus TV and YouTube.

Coverage details of 'Gyeonggi Climate Insurance' scheduled for release in March. Provided by Gyeonggi Province

Cha Seong-su, Director of the Gyeonggi Climate Environment and Energy Bureau, stated, “Responding to the climate crisis is an active public good, and climate insurance will establish itself as an essential safety net in the era of the climate crisis.” He added, “Especially, the ‘Gyeonggi Climate Insurance,’ which reduces the burden on residents and provides practical help to vulnerable groups, will serve as a new model for climate crisis response and play a leading role for other local governments.”

Meanwhile, to respond to rapid climate change this year, Gyeonggi Province will also promote the launch of three climate satellites and the introduction of a climate fund in addition to the climate insurance.

Gyeonggi Province will be the first in South Korea to launch three climate satellites by the end of 2025 or early 2026. This is something even the central government has not done before. The data from the climate satellites will be accumulated in the ‘Gyeonggi RE100 Data’ and used to measure carbon emissions and reductions in real time, which will be reflected in policies.

Additionally, a climate fund will be established and implemented this year, allowing 14 million Gyeonggi residents to receive dividends from fund participation and produce renewable energy.

Gyeonggi Province expects that once these three major projects are on track, they will greatly help build a social safety net capable of proactively responding to unpredictable climate crises and protecting the health and safety of residents.