Bullying Insurance?

Insurance Against Bullying?

When you think “_____ insurance”, what do you think of? House, flood, life?

In South Korea, “bullying” might be just what comes to mind. The “Four Evil’s” insurance, offered to members by South Korea’s second-largest non-life insurance company, Hyundai Marine & Fire, works to compensate victims of what the Park Geun-hye government considers to be the four greatest social problems in South Korea. These problems include bullying in school, low-quality/tainted food products, domestic violence, and rape. The South Korean president launched a campaign to root out these four social problems following the comments by analysts stating that South Korea’s rapid economic rise have both led to new social pressures as well as high rates of depression and suicide.

Monthly premiums would max out at 20,000 won, or about 18 U.S. dollars, but the firm is willing to raise joint funds with municipalities to pay premiums for those who are unable to afford them.

Living in the United States where insurance is really not thought of as something pleasant, it is interesting to see a country take such a step toward protecting its citizens.