Assemblyman Sobyeongcheol Demands Audit of 'Agricultural Disaster Insurance' in Board of Audit Report

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] So Byeong-cheol, a member of the Democratic Party of Korea (Suncheon·Gwangyang·Gokseong·Gurye Gap, Judiciary Committee), requested a comprehensive audit of the Nonghyup Disaster Insurance during the Board of Audit and Inspection's work report on the 24th.

On that day, Rep. So mentioned the cold damage to four types of fruit trees in his constituency and stated, "The compensation rate for agricultural disaster insurance has been lowered from 80% to 50%," asking, "Isn't the sharp decrease in compensation for farmers unreasonable from the Board of Audit and Inspection Chairman's perspective?" The chairman responded, "Unilaterally lowering the compensation rate is not normal."

Rep. So pointed out, "According to the audit research institute's 2018 report on the operation status and major issues of agricultural disaster insurance, the operating profit margin of crop disaster insurance for four years after 2014 was 5.5%," adding, "If Nonghyup Property & Casualty Insurance's overall operating profit margin is more than twice that at 2.2%, something is seriously wrong."

He also stated, "Last year, Nonghyup Property & Casualty Insurance overcharged farmers tens of billions of won in insurance premiums and then refunded it," and requested, "Please conduct a comprehensive audit and report improvement measures later."

Meanwhile, Rep. So Byeong-cheol revealed on his Facebook that "After the meeting, the Board of Audit and Inspection Chairman promised to audit the issues raised today during the Ministry of Agriculture, Food and Rural Affairs audit in July and to find improvement measures."

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