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[Alpha Biz=(Chicago) Reporter Paul Lee] According to the insurance industry on the 2nd, Hanwha Insurance decided to stop selling the "1 million-500,000 won plan," which pays up to 500,000 won to 1 million won for treatment with the flu. Hanwha Insurance plans to sell the flu special contract limit to 200,000 won.
The Financial Supervisory Service reportedly called in Hanwha Insurance executives in the afternoon of the previous day to convey its concern over the excessive limit on flu special contracts. Hanwha Insurance sent a notice to the corporate insurance agency (GA) on the same day that it would stop subscribing to the special contract.
The Financial Supervisory Service plans to hold two meetings with executives of major insurance companies on this day and tomorrow to discuss products that could cause moral hazard, including special flu agreements.
Products with a limit of more than 500,000 won are expected to disappear as the Financial Supervisory Service puts the brakes on the flu special contract.
"If you get the flu, you go to the hospital to see a doctor and take medicine, but it's too much if you pay 1 million won," a Financial Supervisory Service official said. "We've been talking about this before."
The flu special contract is a product that pays insurance when a subscriber receives treatment for the flu, which has been sold by Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, and Lotte Insurance. In particular, the mandatory wearing of masks has been lifted since COVID-19 and the number of cases of flu has increased, drawing attention from customers.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
