[Korea gimmingyeong financial newspaper reporter] Financial Supervisory Service would open the Sanctions Committee reviewed with respect to insurance suicide sanctions announced Monday.
FSS is coming to open the Sanctions Committee has 16 days to re-consider the tertiary level sanctions, such as Samsung Life Insurance and Hanwha life. This is due to circumstances caused great changes in the last 23 days, as a secondary consideration after the sanction Samsung Life Insurance and Hanwha life is to delay the payment in full including interest accrued insurance suicide.
FSS 'This is of social interest issues need to rent and to consider the serious circumstances changed so much that a large impact on the insurance industry, "said' fair and FSS chapter advisory body to the reasonable sanctions opinion of the sanctions Committee composed of civilian experts called to hear again, 'said the cautious.
Dragged over 15 years to this crisis was born of a tedious tug eotbakja of the financial authorities and the Supreme Court. Coming in 2001 copied the wrong terms and conditions of the insurance industry surfaced in Japan 'suicide insurance' It followed the appearance gotta have acknowledged the need to pay large sums of suicides in the disaster, disaster death benefit of intellectual suicide subsidies. Insurers identify problems and late delete the phrase in 2010 but has already sold out the contract of 280 million.
FSS said in 2014 embarked on solving suicide can not be seen as a disaster, disaster and death benefit paid only regular death benefits (insurance suicide) of the rider is said to lower the sanctions, ING Life does not pay additional problems.
Then in 2016 the Supreme Court ruled a suicide claims paid him as riders, except for the statute of limitations had completed suicide is judged that there is no obligation to pay insurance money to the insurance company.
But the financial pressure on the authorities said insurance payments "improperly turn off the insurance time the statute of limitations is past." We will in good faith based on the principle of full payment prompted the insurance money promised to pay initially. FSS accordingly imposed fines of 100 to 700 million won last year, five companies, including MetLife Hungkuk · · · PCA · Shinhan Life Chubb Life.
FSS voted to censure President warnings and suspended sales of some 2-3 months disciplinary suicide only Samsung Life Insurance and Hanwha part of life determining payments. In a hit like Samsung, Hanwha business owner risks and difficulties of insurance agents opened an emergency Board of Directors voted to additional payments. After all insurers seoseul conference on the threat of disciplinary FSS appearances - became a white flag surrender.
Insurance industry officials said "unfair corners hold the ingenuity I reckon eopjin but the FSS okjoe holding a leash 'said' plans to pay as soon as possible."
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