Gochang-gun Mandates Disaster Liability Insurance Subscription for Rural Farm and Fishery Lodgings

[Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil] On the 30th, Gochang-gun, Jeonbuk announced that according to the revision of the Enforcement Decree of the Disaster and Safety Management Basic Act, rural lodging facilities must also mandatorily subscribe to disaster liability insurance.

Disaster liability insurance is a type of insurance that has been mandatory for designated facilities by law since January 8, 2017, compensating for damages to others' life, body, or property caused by fire, explosion, collapse, etc.

Previously, mandatory subscription targets included apartment complexes under 15 floors, funeral halls, gas stations, etc., but following consecutive pension accidents in Gangneung-si and Donghae-si, rural lodging facilities have also been subject to mandatory disaster liability insurance subscription since December last year.

Operators or managers of rural lodging facilities must complete subscription by June 9, the special grace period for insurance subscription, to avoid fines. The insurance premium is usually around 20,000 KRW annually for an area of 100㎡, with compensation limits up to 150 million KRW for personal injury and up to 1 billion KRW for property damage.

A Gochang-gun official said, “We aim to complete subscription for all 67 locations in the jurisdiction through encouragement and promotion,” adding, “Disaster liability insurance is mandatory, and failure to subscribe may result in fines ranging from a minimum of 100,000 KRW to a maximum of 3 million KRW, so please be sure to subscribe within the deadline.”

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