Motor Vehicle Insurance Keeping Up With the Growth in the National Automotive Industry

Under the wise leadership of the respected Supreme Leader Kim Jong Un, a great stride has been made in the development of our country’s automotive industry.

    On his visit to a certain factory in November, 2017, the Supreme Leader  said that a fresh turning point should be brought about in boosting the country’s automotive industry to the international standard’s, adding; Let us all pool our efforts to renovate the factory.  While giving on-the-spot guidance at the Kumsong Tractor Factory, he called its employees to bring about another revolution in positively propelling the development of the country’s automotive industry, and took measures aimed at upgrading the tractor factory. And on visit to the Sungni Motor Complex, he set forth important tasks for renovating the complex as required by the new century, so that it could mass-produce modern trucks. In this way he opened a new chapter for the growth of the country’s automotive industry.

      When modernization of the automotive industry promoted and thus trucks, tractors and buses of various purposes and capacities needed urgently in many field we mass-produced, it will greatly accelerate economic construction and betterment of people’s lives.

The Korea National Insurance Corporation will make proactive efforts to ensure that its motor insurance services keep pace with developing automotive vehicle industry.

The Corporation will launch a nationwide advertising campaign for its motor vehicle insurance in various forms and by various methods, and at the same time diversify premium rate as per the kind and capacity of the subjects insured both on compulsory or voluntary basis, apply appropriate discount and depreciation loading in rate adjustment, taking into full account clean loss records and lifespan of the vehicles to be insured, and rely on drivers’ licenses issued by and regular technical checks made by public security organs, thus fully satisfying the terms and conditions stipulated in  insurance contract.

Thanks to Corporation’s visits and face-to-face contract negotiations made in person, and to its introduction of on-line insurance service system, the convenience of the Insureds will be fully provided and, furthermore, claims will be settled on the principles of fairness, promptness and scientific accuracy. By doing so, it will provide coverages in time against the personal accident and losses or damage of property sustained by the people and ensure regular production in various sectors of national economy.

KNIC will do its best to provide its customers with better environment for insurance coverage in line with the rapid growth in the national automotive industry in the future.