Samsung Fire & Marine Insurance Adds New "Travel Cancellation Penalty Compensation" Coverage to 365 Annual Overseas Travel Insurance

Samsung Fire & Marine Insurance announced on the 10th that it has added a new special clause for Travel Cancellation Penalty Compensation to its "365 Annual Overseas Travel Insurance," which covers penalties incurred when a trip is canceled.

Samsung Fire & Marine Insurance's "365 Annual Overseas Travel Insurance" is an annual product that, with a single subscription, provides unlimited coverage for overseas trips for one year. It is designed for customers who frequently travel abroad for business trips or short stays, and with this new coverage, it now also compensates penalties arising from trip cancellations.

The Travel Cancellation Penalty Compensation coverage applies when a trip must be canceled due to unavoidable reasons such as unexpected accidents or illnesses before departure. It compensates up to 80% of cancellation fees (penalties) for pre-booked transportation tickets, accommodation vouchers, and experience tickets within the subscribed coverage limit, with the maximum coverage amount set at 1 million won.

Through this newly added coverage, Samsung Fire & Marine Insurance plans to provide broad protection not only for risks that may occur during travel, but also for the financial burden on customers that may arise while preparing for their trips.

A Samsung Fire & Marine Insurance representative said, "The introduction of this new coverage is aimed at providing an insurance product that offers practical help throughout the entire travel process for our customers," adding, "We will continue to strengthen the competitiveness of our products by expanding coverage that reflects customer needs and by further advancing our services."