Samsung Fire & Marine launches parametric flight delay cover
ReutersFeb 10, 2025 2:07 PM
By Henry Gale
Feb 10 - (The Insurer) - Korean insurer Samsung Fire & Marine has added parametric flight delay cover to its personal travel insurance product offering.
The coverage is provided for international flights departing airports in South Korea.
Payouts are made for flight delays of two hours or more, with a six-hour delay or cancellation triggering a maximum payout of KRW100,000 (~$69).
Samsung Fire & Marine is the latest insurer in the region to provide parametric flight disruption coverage, with others including Sompo Thailand and Zurich Asia Pacific announcing similar offerings in recent months.
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