Domestic No. 1 Virtual Asset Insurance Release Outlook This Week

IconCryptoNewsTerminal Staff08 Jul, 2024

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Domestic No. 1 Virtual Asset Insurance Release Outlook This Week

Domestic No. 1 Virtual Asset Insurance Release Outlook This Week According to the Electronic Newspaper, Korea's first virtual asset insurance product is scheduled to be released this week. Financial authorities received a standard insurance policy review application for the virtual asset insurance product release on the previous day. Eleven non-life insurance companies, including Samsung Fire & Marine, DB Insurance, Hyundai Marine & Fire, Meritz Fire & Marine, and KB Insurance, plan to complete their policy review applications with the financial authorities within this week. Some insurance companies aim to launch insurance products as early as the 10th, subject to approval from the authorities. A financial authority official commented, "We have completed the review preparation with the clauses submitted in advance about 2 to 3 weeks ago." They added, "If the clauses do not change significantly, it will take about 1 to 2 days from the report to approval."

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