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.
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Agricultural and Fishery Disaster Insurance Act
Summary
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Document
Topics
About this law
Year
2009
Most recent update
03/06/2014
Geography
🇰🇷 South Korea
Response areas
Adaptation, Disaster risk management
Sectors
Agriculture, Industry
Topics
, ,  
 Topics mentioned most in this law
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Group
Topics
Policy instrument
Risk
Just transition
Climate justice
Economic sector
Adaptation/resilience
Finance
Note
The summary of this document was written by researchers at the Grantham Research Institute . If you want to use this summary, please check terms of use for citation and licensing of third party data.