Compensation for damages will be easier in the future
It is expected to be compensated by Seoul and Gyeonggi Province’s contingency funds, ‘ [Financial News] ‘,
The Joint Chiefs of Staff identified that North Korea launched more than 330 propaganda balloons from 11 p.m. on the 8th to 10 a.m. on the 9th, with about 80 of them landing in our region. The photo shows a propaganda balloon dropped near Jamsil Bridge in Seoul. Photo=Newsis
, ‘Insurance compensation related to car windshield damage caused by propaganda balloons sent by North Korea has been confirmed as the first case of insurance processing. In auto insurance, medical insurance, and personal accident insurance standard terms and conditions, damages or injuries caused by war, foreign military actions, revolution, rebellion, riots are not covered for compensation. However, it was determined that compensation can be made for the propaganda balloons as they do not fall under those categories.’,
, ‘According to the insurance industry on the 13th, on the 2nd, a car parked in front of the residence of Mr. A in Danwon-gu, Ansan-si, Gyeonggi-do had its front windshield damaged by a propaganda balloon falling on it.’,
, ‘In response, Mr. A applied for car damage insurance to B Insurance Company that he had. Car damage insurance compensates for direct losses to the car that occurred while owning, using, or managing the car without involving the other party driver.’,
, ‘Typically, in the insurance industry, policyholders have a 20% deductible for repair costs. Mr. A paid 200,000 won as his deductible out of the repair cost of about 530,000 won, and the remaining 330,000 won was covered by B Insurance Company.’,
, ‘B Insurance Company classified the propaganda balloon as falling debris and decided not to increase Mr. A’s insurance premium for the next year, opting instead for a one-year discount. ‘,
, ‘C Insurance Company also received an application for car damage insurance from Mr. D, whose windshield was damaged by a propaganda balloon while parked in Dongdaemun-gu, Seoul on the 9th. Mr. D is expected to bear a certain portion of the deductible.’,
, ‘In the future, compensation for damages caused by propaganda balloons is expected to become more manageable. The government previously recommended compensating for damages using contingency funds in Seoul and Gyeonggi Province.’,
, ‘In response, Seoul City announced on the 11th that it will compensate for damages using its own contingency funds after confirming the extent of the damages. Currently, Gyeonggi Province is also conducting a survey to provide medical reimbursement for the damages.’,
, ‘Furthermore, on the 11th, the government, led by Prime Minister Han Duck-soo, announced at a Cabinet meeting that despite legislative changes, local governments should promptly support affected residents due to the damages caused by North Korean propaganda balloons.\n’]