● Non life insurance in Korea has the history of about 49 years, at first Chosen Fire and Marine Insurance Company was established in 1922.
● After the last world war, a number ofinsurance companies were founded to carry on fire or marine insurance, and some companies gradually extended their activities to a host of other kinds of non-life insurance like automobile insurance in nine com
(2) Long Term Care in Korea
In July 2008, Korea introduced social insurance for long-term care. There are several
important demographic and social changes leading to the introduction of long-term care
(LTC) insurance, including the rapid ageing of population as a result of the increase in life expectancy and the sharp decline in fertility. Total fertility rate is below 1.1 in 2005 (NSO,2007).
Then, What is property insurance?
Which covers the risk of property owned by insured person or company.
Subject insured can be house, factory, building, machinery, jewelry, car, ship, air plane… and so on.
Difference between Life insurance and Property insurance in terms of compensation.
Better theoretical explanation is in the online lecture of this week.
Do not just check your
of hull being transfer out of the place of construction or being manufacture outside the place of construction can extend coverage.
(3) Loss of Earning and/or Charter Hire Insurance
Loss of earning insurance is that compensate loss of the expected profit of shipowner or ship manager at this case which the ship doesn't sail because of the accident insurance, Mostly, it compensates instant loss
1) Sharing the jobs – Netherlands
Part-timers get same minimum hourly wage and insurances benefits as full-timers
2) Extended benefits – Denmark
90% of the last job’s wages is funded by the government, maximum of 4 years
Spends more on re-education and encourage the unemployed to find jobs
In China
-The level of benefit is set between the minimum wage and the minim