Hyundai Marine & Fire Insurance Donates 100 Million KRW for COVID-19 Damage Relief Fund

[Asia Economy Reporter Oh Hyung-gil] Hyundai Marine & Fire Insurance announced on the 4th that it has donated 100 million KRW to the Community Chest of Korea to prevent the spread of the novel coronavirus infection (COVID-19) and support victims in the Daegu and Gyeongbuk regions.

The donation will be used to purchase masks and hand sanitizers for medical staff and quarantined patients.

Hyundai Marine & Fire Insurance added that it will implement support measures such as prompt insurance claim payments, premium payment deferrals, loan maturity extensions, and reduction of overdue interest to share the burden caused by the COVID-19 outbreak, as well as measures to revitalize the sluggish domestic economy.

Insurance claims related to COVID-19 or from customers and hospitals located in the Daegu and Gyeongbuk areas for long-term or automobile insurance will be prioritized for review and prompt payment. For long-term insurance policyholders who are confirmed COVID-19 patients or under self-quarantine, and small business owners who have suspended operations due to confirmed cases within their buildings, premium payments can be deferred for six months upon application.

Customers confirmed with COVID-19 or under self-quarantine who wish to do so will be supported with grace periods and maturity extensions for personal loans, as well as reductions in overdue loan interest. Additionally, insurance policy loan applications will be promptly reviewed to ensure quick loan disbursement.

This content was produced with the assistance of AI translation services.