Samsung Fire & Marine Expands "Index-Type" Flight Delay Coverage to Include Return and Connecting Flights

Following Last Year's Launch of "Index-Type" Coverage for Outbound Flights
Industry's Only Return and Connecting Flight Coverage
Compensation Up to 200,000 Won Based on Delay Duration

Samsung Fire & Marine Insurance announced on March 16 that it has expanded the coverage scope of its overseas travel insurance's "index-type" compensation for flight delays and cancellations to include both return and connecting flights.

In February of last year, Samsung Fire & Marine Insurance became the first company in the industry to launch an "index-type" compensation rider for delays and cancellations of outbound international flights from Korea. Now, the company has introduced a new "index-type flight delay and cancellation compensation (excluding outbound flights from Korea) rider," which extends coverage to return and connecting flights as well.

The "index-type" compensation pays out insurance benefits based on the duration of the flight delay. Under the previous "actual loss-type" coverage, policyholders were required to submit receipts for expenses such as meals or accommodation incurred due to the delay. However, with the "index-type" coverage, policyholders can receive a predetermined compensation amount simply by submitting a certificate of flight delay, without any need for additional expense documentation.

Compensation is paid as a fixed amount if a flight is delayed or canceled for two hours or more. The amount varies depending on the length of the delay, and up to 200,000 won is provided for delays or cancellations lasting six hours or longer.

With this new rider added to the existing outbound flight coverage, customers can now receive fixed compensation for flight delays throughout their entire overseas journey—including outbound, return, and connecting flights—based on the length of the delay. Samsung Fire & Marine Insurance is the only company to offer comprehensive flight delay coverage for the entire duration of an overseas trip.

A representative from Samsung Fire & Marine Insurance stated, "Since introducing the industry's first index-type flight delay coverage in overseas travel insurance, our focus has been on enhancing the convenience of the claims process for our customers," adding, "We will continue to improve the customer experience by providing simple, digital-based compensation services."

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