[Alpha Biz=(Chicago) Reporter Kim Jisun] Meritz Fire & Marine Insurance Co. and DB Damage Insurance Co. were sanctioned for failing to pay insurance premiums to customers as stipulated in their insurance policies.

According to the financial sector on the 25th, the Financial Supervisory Service detected the non-payment of insurance during an inspection of Meritz Fire & Marine Insurance and requested a fine of 26.4 million won, a fine of 5 million won and autonomous handling of its employees.

DB Insurance was also found to have received a fine of 14 million won and was asked to handle the employee autonomously.

Non-payment of insurance money refers to the insurance company's refusal to pay insurance money on the grounds that the details of the subscriber's treatment are not guaranteed by the terms and conditions.

Meritz Fire & Marine Insurance did not pay 40.5 million won in insurance for a total of 14 insurance contracts from July 2019 to December 2021.

DB Insurance did not pay 262 million won for a total of 26 insurance contracts from August 2019 to December 2021.

DB Insurance was caught even though more than one month has passed since it learned of the violation of the contractor's obligation to inform before the contract or three years have passed from the date of signing the contract in relation to 12 insurance contracts from April 2020 to November 2021.

The Financial Supervisory Service also imposed a fine of 37.8 million won on Samsung Life Insurance for violating its obligation to notify the results of its financial verification of retirement pensions.

In May 2018 ∼ July 2022, Samsung Life Insurance did not notify all workers of the results of its confirmation of 58 fixed-benefit retirement pension contracts with less reserves than the minimum reserve.

 

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