Media-Insert Communications

Media-Insert Communications

The blog of Media-Insert Communications – featuring freelance P.R. and journalism links to the work of Graham A. Jarvis.

Editing, Journalism, Copywriting, and Public Relations

South Korean insurance companies are to start to sell autonomous vehicle insurance.

Korea Bizwire said in September 2020 that South Korea’s regulator: “The Financial Supervisory Service announced that the nation’s 12 non-life insurance companies will start selling new insurance products that can cover the risk related to accidents involving commercial self-driving cars from late this month.”

Reports suggest that the country has established the legal foundation for the commercialization of Level 3 autonomous vehicles. By revising the country’s Act on Compensation for Car Damages, insurance companies will be able to sell insurance products for self-driving cars – beginning with policies for commercial self-driving cars. The website reveals that it becomes effective as of October 2020; “Following the Ministry of Land, Infrastructure and Transport’s establishment of safety standards for self-driving cars and the revision of the Act on Compensation for Car Damages.”

Read how Korean insurers are grasping the nettle: http://bit.ly/3w9lFew 

Client: InformaTech, published by TU Automotive on 26th November 2020. Author: Graham Jarvis.

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