Home shopping channels mandated to spell out insurance products
Home shopping channels will also be required to use simple and easy to comprehend words, rather than industry or legal jargon, when they sell insurance products, the FSS said.
The new guidelines will take effect in December this year, according to the statement.
Last week, FSS Gov. Yoon Suk-heun called on insurance firms to make more efforts to clarify their policy clauses, saying that consumers have a hard time understanding some of them.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)