DB Insurance Obtains 3-Month Exclusive Use Rights for Chamjoheun Driver Insurance

[Asia Economy Reporter Oh Hyung-gil] DB Insurance announced on the 22nd that the new coverage of its 'Chamjoheun Driver Insurance,' launched on the 1st, has obtained a 3-month exclusive usage right.

The New Product Review Committee of the General Insurance Association highly evaluated DB Insurance for being the first in the insurance industry to develop the special clause for traffic accident settlement support fund (serious violation of regulations, under 6 weeks, actual expense) in 'Chamjoheun Driver Insurance,' granting a 3-month exclusive usage right.

Accordingly, other insurance companies will be restricted from developing and selling similar special clauses for the next 3 months.

With this exclusive usage right acquisition, DB Insurance has obtained a total of 16 times (14 times in long-term insurance), the most in the industry since the introduction of the 'New Product Development Profit Protection' system for general insurance products in 2001.

The special clause for traffic accident settlement support fund is a special clause that provides actual expense compensation up to the insured amount for criminal settlement money paid to victims when the insured causes injury (diagnosed under 6 weeks) to others due to a serious violation of regulations while driving.

DB Insurance recently added coverage for criminal settlements in minor injury accidents under 6 weeks to driver insurance, in line with the increasing number of minor accidents and the trend of expanded and strengthened criminal settlement targets, such as the enforcement of the so-called Minsik Act, which imposes heavier penalties for child fatalities or injuries in school zones (Seukuljon).

As a result, it has received great response from consumers purchasing insurance by alleviating concerns about coverage gaps in driver criminal settlement funds.

A DB Insurance official stated, "This recognition reflects the originality and effort to timely reflect consumer needs in line with social and administrative trends, breaking away from the fixed notion that serious violation accidents only cover diagnoses over 6 weeks."

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