Simplified Claims Process Act for Indemnity Insurance Passes Full Committee Meeting of the Political Affairs Committee

Virtual Asset Hearing Scheduled for the 11th of Next Month

The bill to simplify claims for indemnity insurance passed the National Assembly's Legislation and Judiciary Committee plenary session on the 15th. Once the bill passes the plenary session and other procedures, indemnity insurance consumers will be able to claim indemnity insurance easily without the complicated process of obtaining paper documents.

This time, the Legislation and Judiciary Committee passed an amendment to the Insurance Business Act that includes the simplification of indemnity insurance claims. Until now, consumers had to pay medical expenses at the hospital and then obtain paper documents such as receipts, medical certificates, and detailed medical expense statements, and send these documents via the insurance company's app, email, or fax to claim insurance benefits.

Due to the complicated procedures, in cases such as small insurance claims, consumers often gave up on claiming and bore the costs out of pocket.

Although the bill passed the Legislation and Judiciary Committee plenary session, because it deals with sensitive personal health information, the plenary session involved discussions resembling those of a bill subcommittee. The opposition parties are concerned about the possibility of sensitive patient information being accumulated through computerized systems.

[Image source=Yonhap News]

Democratic Party lawmaker Kim Seong-ju pointed out, "Since the transmitted personal medical information is very sensitive, it should be minimized," and added, "There should be a principle that it must not be done directly in any form."

Financial Services Commission Chairman Kim Ju-hyun stated, "We are not asking for additional information, and to prevent use beyond the intended purpose, it is legally prohibited," and added, "I cannot understand the basis for claiming that payment is made when the same information is submitted on paper but not when the same information is submitted electronically."

Meanwhile, the Legislation and Judiciary Committee agreed to hold a hearing on virtual assets on the 11th of next month. The hearing is expected to cover controversies over virtual asset holdings by independent lawmaker Kim Nam-guk, who left the Democratic Party, and allegations of political lobbying by the virtual asset industry.

Earlier, Kim Jong-min, who served as the Democratic Party's Legislation and Judiciary Committee secretary, proposed during a parliamentary procedure speech, "As public concerns about virtual assets have recently increased, the Legislation and Judiciary Committee, which is the standing committee in charge of virtual assets, should deeply address public concerns and recent issues." After schedule consultations, the hearing date was finalized.

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