Insurers, airlines on alert after sharp escalation in civilian risk

A Budget Office report links credential misuse to delays in suspending departed workers' coverage, while separately warning that foreign nationals' unpaid premiums are being written off

The sovereign parametric deal covers government exposures only, and the domestic pool covers earthquake alone, leaving typhoon and flood placements reliant on offshore capacity

Government baseline cover caps property at KRW 50 million and excludes business interruption, creating clear space for broker-placed commercial lines

Cyber Proactive Response update also stretches the business interruption indemnity period to 18 months