Samsung Life in proxy war against FSS

Samsung Life in proxy war against FSS

Tweet Follow @koreatimescokr Samsung Life’s headquarters in Seoul By Jhoo Dong-chan
Samsung Life has waged a legal battle against the nation’s financial regulator by filing a lawsuit against one of its policyholders that claimed the insurer overcharged them and didn’t pay a fair annuity.
The insurer’s move, aimed at invalidating the policyholder’s demand for compensation, is seen as a proxy legal war against the Financial Supervisory Service (FSS) as it is equivalent to defying the FSS’ order.
In July, the FSS concluded the nation’s major insurers, including Samsung Life and Hanwha Life, deducted part of payouts as working expenses […]

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