It has been found that 9 out of 10 consumer disputes involving non-life insurance are related to insurance payouts.
According to the Korea Consumer Agency on November 9, a total of 2,459 cases of non-life insurance damage relief were filed from 2022 to the first half of this year. This averages about 700 cases per year.
Of these, 2,165 cases (88%) were disputes related to insurance payouts. By year, the proportion was 87.2% in 2022, 87.1% in 2023, 88.8% in 2024, and 90% in the first half of this year, indicating an increasing trend.
By age group, those in their 40s to 60s accounted for 1,829 cases (74.4%). In particular, people in their 50s made up the largest share with 716 cases (29.1%).
By type of insurance, indemnity insurance accounted for the most cases at 1,034 (42%). Including health insurance (874 cases, 35.5%), disputes related to medical and diagnostic expenses made up 77.5% of the total.
By reason for filing, non-payment of insurance payouts was the most common with 1,579 cases (64.2%), followed by dissatisfaction with insurance payout calculation (501 cases, 20.4%), violation of pre- or post-contract disclosure obligations (160 cases, 6.5%), and dissatisfaction with disability or injury grade application (85 cases, 3.4%). Among all damage relief applications, 28.1% (690 cases) were resolved through settlement.
By insurance company, Meritz Fire & Marine Insurance had the highest number of damage relief applications at 465 cases, followed by Hyundai Marine & Fire Insurance with 452 cases and DB Insurance with 359 cases. When considering contract volume, Heungkuk Fire & Marine Insurance had the highest number of applications per 1 million contracts at 44.3 cases.
The average settlement rate among the eight major non-life insurance companies was low at 28.3%. Hyundai Marine & Fire Insurance had the lowest settlement rate at 23.2%, while the company with the highest settlement rate was Samsung Fire & Marine Insurance at 31.1%.
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