Gwangyang City Increases Citizen Safety Insurance Coverage Limit to 20 Million Won

Full Premium Covered by City, Up to 20 Million KRW Support for 11 Items

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Gwangyang City, Jeonnam announced on the 24th that it will increase the coverage amount of the Citizen Safety Insurance from the existing 10 million KRW to a maximum of 20 million KRW to stabilize the lives and improve the welfare of citizens affected by unexpected disasters and accidents.

Citizen Safety Insurance has been in effect since February 2020 and provides insurance payments up to 20 million KRW for disasters and accidents occurring from August 11, 2021.

The insurance covers all citizens residing in the jurisdiction, including registered foreigners with resident registration, and anyone who is a Gwangyang citizen can benefit without any separate subscription procedures or insurance premiums.

Additionally, overlapping compensation is possible regardless of the accident location or whether the individual has other insurance coverage.

The coverage items include ▲death from natural disasters ▲death or permanent disability from explosion, fire, collapse, or landslide ▲death or permanent disability from injuries sustained while using public transportation ▲death or permanent disability from robbery-related injuries ▲death by drowning ▲death or permanent disability from agricultural machinery injuries ▲school zone traffic accidents, among 11 items in total.

The coverage amount is 20 million KRW in case of death and up to 20 million KRW depending on the degree of permanent disability (3~100%).

Insurance claims can be made by the victim or legal heir upon occurrence of the claim event, and the statute of limitations is three years from the date of the accident.

Shin Heung-sik, Head of the Safety General Division, said, “Citizen Safety Insurance is a system that provides insurance payments to citizens affected by disasters and safety accidents, contributing to life safety in crisis situations, and this year we have expanded the coverage amount,” adding, “We will continue to do our best to make Gwangyang a happy and safe city for all citizens.”

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