South Korea

Agricultural and Fishery Disaster Insurance Act

Passed in 2009
This act regulates the insurance industry's coverage of agricultural and fishery disasters, including by defining agricultural and fishery insurance, outlining the scope of allowable coverage, defining who is a legal insurance provider, and regulating procedures throughout the insurance process, such as assessing damage and appraising worth. It allows the government to subsidize insurance premiums in this area and creates a re-insurance fund for firms providing disaster insurance to the agricultural and fishery sectors.

from the Grantham Research Institute
from the Grantham Research Institute
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