Hanwha General Insurance Launches Driver Insurance with Enhanced Fine Coverage for School Zone Accidents

[Asia Economy Reporter Oh Hyung-gil] Hanwha General Insurance announced on the 16th that it will revise and sell the 'Chadori ECO Driver Accident Insurance,' which increases the coverage amount for fines related to personal injury accidents in school zones following the enforcement of the 'Min-sik Act.'

With the enforcement of the Min-sik Act, if a personal injury accident occurs in a school zone while driving, the driver is subject to aggravated punishment and can be fined a minimum of 5 million KRW and up to 30 million KRW.

This driver insurance has added an upselling special contract that compensates up to 30 million KRW for the excess amount if the fine exceeds 20 million KRW for school zone accidents, applicable to existing subscribers with a 20 million KRW coverage.

Additionally, new special contracts for fracture diagnosis fees by grade (excluding tooth fractures), fracture surgery fees by grade, and new cast treatment fees have been established to strengthen coverage for fractures and cast treatments caused by injury accidents.

A special contract for hospitalization in a single room at a general hospital, which provides coverage for up to 10 days, has also been added.

The eligible age for subscription is from 18 to a maximum of 80 years for the driver coverage type, and from 0 to a maximum of 80 years for the injury coverage type. If the contract is maintained until maturity, a maturity maintenance bonus of up to 3.0% is paid additionally, increasing the maturity refund amount.

Ahn Kwang-jin, head of the Long-term Insurance Team at Hanwha General Insurance, introduced it as "a multi-purpose driver accident insurance that considers not only coverage for various risks occurring while driving but also the safety of myself and my family from injury risks caused by family trips and leisure activities."

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