Incheon Citizen Safety Insurance Coverage Up to 15 Million Won... Added Coverage for Accidents Involving Charter Buses

Firefighters are conducting extinguishing operations at a fire scene in Incheon.
[Photo by Incheon Fire Headquarters]

[Asia Economy Reporter Park Hyesook] Incheon City will expand the coverage amount and coverage items of the citizen safety insurance, which was first introduced by a metropolitan city in 2019.

On the 12th, the city announced that it has increased the maximum insurance coverage amount for citizens affected by various natural disasters, accidents, and crimes from 10 million KRW to 15 million KRW, and added two new coverage items: injury or death while using chartered buses.

Accordingly, the coverage items have increased from the existing eight to ten, including explosion, fire, collapse, landslide accidents, public transportation accidents, death or permanent disability due to robbery, death from natural disasters, and treatment for injuries in school zones.

Since Incheon City contracts with insurance institutions and pays a lump sum premium of about 360 million KRW, all 3.01 million Incheon citizens are eligible for insurance payments without any separate subscription procedures. Foreigners registered as residents in Incheon are also included.

If Incheon citizens suffer an accident covered by the insurance items, they can claim the insurance payment from the Korea Local Finance Association within three years from the date of the accident.

Since the introduction of citizen safety insurance in 2019, insurance payments totaling 338 million KRW have been made to citizens in 54 cases by the end of last year, including 10 million KRW paid to the families of fire victims.

An official from Incheon City stated, "Citizen safety insurance is a system that provides minimum livelihood stability to citizens affected by disasters and crimes," and added, "We will do our best this year as well to build the best welfare and a safe Incheon for our citizens."

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