Reported about 1 year ago
As of July 2, 2024, the Actual Payment Insurance officially returned to the principle of damages reimbursement. The Financial Supervisory Commission stated that there are two ways of damages reimbursement - original claim and loss sharing. Currently, there are no regulations for loss sharing in the market, and all policies available are for original claim only. The mechanism for loss sharing is still unclear and requires further discussion between the life insurance association and insurance companies.
Source: YAHOO