|
Soaring oil prices have increased the appeal of the bicycle as an alternative means of transport, but cyclists complain that insurance companies offer no cover for bike accidents, which are also on the rise. Last year saw some 1,300 bike accidents, causing around 1,400 casualties. The figures are almost double those of three years ago. According to the Road Traffic Act, bicycles are in the same category as cars and thus required to use roadways. If cyclists get involved in an accident while using pavements, they are entirely to be held to account.
Non-life insurance companies say bicycles have no license plates and it is therefore difficult to confirm whether injury was really incurred during cycling. In addition, because they say they cannot make an on-the-spot inspection when an accident is reported, it could encourage fraud.
In 1997, Samsung Fire and Marine Insurance became the first in the industry to introduce a comprehensive insurance product for cyclists, but it had to discontinue it in 2001 amid rising applications for payouts. First Fire and Marine Insurance also started to sell a policy for some selected cycle clubs and groups two years ago but is now considering discontinuing it, claiming some people caused an accident on purpose to get a new bike and there were many false reports of accidents.
The Korea Non-Life Insurance Association said if cyclists buy a long-term comprehensive insurance they can add a personal liability insurance, for only W200-500 (US$1=W1,024) additional cost a month, which will cover up to W100 million for damages they cause to other people.
(englishnews@chosun.com )
|
