Read 1587 times

  • confusedsafferinkorea
  • Waygook Lord

    • 5091

    • October 08, 2010, 01:02:32 pm
    • Zhubei, Hsinchu Province, Taiwan
    more
Anti-bullying insurance will be sold
« on: February 05, 2014, 05:46:49 am »
This has got to be the dumbest thing I have heard about for a long time. How about looking for solutions instead of the usual, 'It is broken, let's just throw money at it and that will fix it'.

http://www.koreatimes.co.kr/www/news/biz/2014/02/488_150985.html



An insurance policy will be sold for victims of school bullying, sexual assault, domestic violence and food adulteration as early as next month.

These crimes have been described as the “four social evils” by the Park Geun-hye government; and fighting them is one of her priorities.

Hyundai Marine & Fire Insurance said it is developing the products at the request of the government.

“We will be able to begin selling the policies in March,” a company spokesman said Tuesday. “The main purpose of the policies is to compensate for both the financial and mental damage suffered by crime victims.”

Financial regulators have been active in introducing the insurance scheme for crime victims, especially children, women and the elderly in the low-income bracket.

The government plans to set up a joint fund with municipalities to pay insurance premiums for “the weak and vulnerable,” according to the Financial Services Commission (FSC).

“The insurance policies will be provided for free to those in the low-income bracket and adolescents without parents,” an FSC official said. “Ordinary citizens also can subscribe to the policies by paying a monthly premium of 10,000 won to 20,000 won ($18). Details of the insurance scheme, including the exact amount of premiums, will be fixed soon.”

The insurance policies will be sold only by Hyundai Marine & Fire.

Late last year, the firm’s CEO Lee Cheol-young said it would launch insurance policies tailored for crime victims to help build a safer society.

According to its initial plans, victims of the four crimes will receive compensation for any financial losses and “stress” they suffer after being attacked.

However, how to compensate for stress is controversial.

The FSC said it will discuss with the firm to set up guidelines for insurance payments.

Some industry sources expressed concerns that the crime-oriented insurance policies may be short-lived because there are already many products covering physical damage from accidents and crimes.

“The new policies are only for victims of the four crimes the government is concentrating on. However, there are already better insurance products that can cover a wide range of accidents and crimes,” said an official from an insurance firm, asking not to be named
There is no known medical cure for stupidity!


Re: Anti-bullying insurance will be sold
« Reply #1 on: February 05, 2014, 07:36:08 am »
Food adulteration!?  :huh: Are people getting poisoned!?


  • btpham13
  • Expert Waygook

    • 509

    • February 28, 2011, 11:02:04 am
    • Korea
Re: Anti-bullying insurance will be sold
« Reply #2 on: February 05, 2014, 07:53:52 am »
Quote
The insurance policies will be sold only by Hyundai Marine & Fire.

On an unrelated note, lobbyists from Hyundai Marine and Fire got a 500% raise and a 5,000,000,000 won bonus.  :rolleyes:


  • Hoosier_Jedi
  • Expert Waygook

    • 859

    • April 08, 2011, 01:56:38 pm
    • Icheon
    more
Re: Anti-bullying insurance will be sold
« Reply #3 on: February 05, 2014, 07:54:14 am »
I do not want to think about what would be involved in filing a claim on the sexual assault insurance.  :huh:


  • Ley_Druid
  • The Legend

    • 2468

    • February 17, 2011, 08:36:33 am
    • Shinan-Gun, Jeollanam-Do, South Korea
Re: Anti-bullying insurance will be sold
« Reply #4 on: February 05, 2014, 07:56:13 am »
Doesn't this kind of thing point out those who are victims in Korean society and gives specific individuals the ability to shame them or blackmail them? I guess I just see this kind of idea going in the complete wrong direction, and instead of dealing with the problems, it seems it is better to gamble even further on people's misfortunes to generate more income.


  • iamrhart
  • Hero of Waygookistan

    • 1938

    • November 16, 2011, 01:20:16 pm
    • XXXXXXXXxx
Re: Anti-bullying insurance will be sold
« Reply #5 on: February 05, 2014, 08:01:46 am »
We have seen this before!

"back in the day", men would go around to stores, and request money. These men offered protection to the store, so that they wouldnt be attacked by gangs. These men were called (anybody?):.....wait for it....wait for it.....

MAFIA

there it is
You only live today once. You wont get a second chance. You wont get to live it twice. So make the most of it.

A sane man in an insane world will appear insane.


  • Chadwickhhs
  • Expert Waygook

    • 797

    • February 28, 2012, 07:04:14 pm
    more
Re: Anti-bullying insurance will be sold
« Reply #6 on: February 05, 2014, 08:24:25 am »
Imagine you go to get bullying insurance and they look at you... size you up and decline you for being too high risk/preexisting condition and all that. "You're so pathetic you'd run us out of business paying for all your bully issues! Declined!" Meta-bullying!

But really there's so much wrong with this. I see it as another way to pray off people's problems rather than trying to address the toxic environment. Especially when they haven't hammered out how stress or emotional damage will be gauged and paid out. I imagine people paying into it which emotionally is admitting that they are "weak" and then getting swindled when insurers refuse to pay out on incidents.


  • iamrhart
  • Hero of Waygookistan

    • 1938

    • November 16, 2011, 01:20:16 pm
    • XXXXXXXXxx
Re: Anti-bullying insurance will be sold
« Reply #7 on: February 05, 2014, 08:27:50 am »
imagine how it will impact us foreigners.

we already bully the Korean Cab Drivers, Bus Drivers, students, etc.

you know, when we stand up for ourselves. that makes them feel bullied...right?
You only live today once. You wont get a second chance. You wont get to live it twice. So make the most of it.

A sane man in an insane world will appear insane.


Re: Anti-bullying insurance will be sold
« Reply #8 on: February 05, 2014, 08:41:14 am »
mixed feelings about this. as Saffer said, it doesn't really address the root causes of bullying. but at the same time, maybe it will make parents more cognizant of bullying if they risk having to shell out cold hard cash if their kid bullies another one. and maybe that will help make them try to make sure their kid doesn't bully.


  • btpham13
  • Expert Waygook

    • 509

    • February 28, 2011, 11:02:04 am
    • Korea
Re: Anti-bullying insurance will be sold
« Reply #9 on: February 05, 2014, 09:16:44 am »
Imagine you go to get bullying insurance and they look at you... size you up and decline you for being too high risk/preexisting condition and all that. "You're so pathetic you'd run us out of business paying for all your bully issues! Declined!" Meta-bullying!

But really there's so much wrong with this. I see it as another way to pray off people's problems rather than trying to address the toxic environment. Especially when they haven't hammered out how stress or emotional damage will be gauged and paid out. I imagine people paying into it which emotionally is admitting that they are "weak" and then getting swindled when insurers refuse to pay out on incidents.

Yeah, this is exactly how I see it happening. 

Insurance companies don't exist to help people:  they exist to make profit. 

If an individual is deemed too risky (such as a puny little nerd with no friends), why would an insurance company cover them?  The company would probably only cover big, strong, confident people who apply for coverage.  I mean, how many big, strong, physical athletes get bullied?  If the athlete applies for coverage, that's easy money going to insurance company with no risk of paying anything out for damages. 

The only way I can see this working is if they provide insurance to EVERYONE who applies, including those who are very likely to be bullied.  Also, the compensation should be paid by the family of the bully.  After enough families get sued, parents will probably be more likely to change their children's behavior to be more tolerant for fear of being sued. 

If Minho bullies Jinsu (and Jinsu has this insurance policy), then the insurance company should go after Minho's family for financial compensation.  But as someone already said, this can lead to blackmail and shaming others. 

But this seems like it's going to be a HUGE clusterf*ck.  There's so many problems, there's no way this policy works. 
« Last Edit: February 05, 2014, 09:20:31 am by btpham13 »


  • yfb
  • Expert Waygook

    • 862

    • July 05, 2010, 11:50:12 am
Re: Anti-bullying insurance will be sold
« Reply #10 on: February 05, 2014, 09:26:30 am »
1. Buy insurance
2. Eat at Lotteria
3. Claim compensation for food adulteration (no food can be THAT bad)
4. ???
5. Profit!


Re: Anti-bullying insurance will be sold
« Reply #11 on: February 05, 2014, 09:33:22 am »
I bet people involved in actuarial sciences would have a field day with this. How about just stepping up the justice side of things instead? Risk assessment for things like domestic/bullying/sexual assault always leads to huge arguments because people like to say that "anyone can be assaulted" and no one likes to say "some people are more at risk". Seriously dangerous territory, but I guess we will soon have the answer to my theory: People who like taking selfies are at great risk to become victims of sexual violence and people who loath taking selfies are at greater risk of being bullied.
The food one is interesting. Unless the labels and contents are incorrect what exactly are they insuring against?