KICPA Vice Chmn. Lee Byung-rae Nominated as GIAK Chairman

Lee Byung-rae, chairman-nominee of the General Insurance Association of Korea. (Photos: GIAK)

Lee Byung-rae, a bureaucrat-turned vice chairman of the Korean Institute of Certified Public Accountants (KICPA), was named chairman of the General Insurance Association of Korea.

GIAK said on Dec. 5 that the GIAK Chairman Nominee Recommendation Committee held a second meeting where they decided to recommend KICPA Vice Chairman Lee as the sole chairman-nominee of GIAK.

GIAK will hold a general meeting on Dec. 20 to approve GIAK Chairman-nominee Lee.

GIAK Chairman-nominee Lee, born in 1964, graduated from Daejeon High School and Seoul National University Trade Department.

He began his career as a bureaucrat after he passed the 32nd higher administrative examination.

Lee held positions, such as director in non-banking supervision and director in insurance supervision at the Financial Supervisory Commission, as well as being the director in charge of insurance, and director-general in charge of financial services at the Financial Services Commission.

After that, Lee also served as president of the Financial Intelligence Unit, councilor of the Securities and Future Commission and president of Korea Securities Depository, before serving as vice chairman in charge of external relations at the Korea Institute of Certified Public Accountants.

He is believed to have the right stuff, applicable capabilities, and is a man of good character.

Infographics of guidelines on health management guidelines corresponding to the life cycles of pet animals, to be released soon.

GIAK to Work Out Guidelines on Health Management of Pets

The General Insurance Association of Korea said GIAK will soon announce guidelines on health management guidelines corresponding to the life cycles of pet animals.

GIAK plans to work out guidelines by analyzing high risks of diseases corresponding to age groups of top 10 dog species being raised in Korea.

The guidelines are designed to help animal lovers establish health management plans on potential diseases for their pets, and support diagnoses and vaccinations against diseases.

The association plans to analyze the occurrence of diseases, medical care and medical costs according to the life stages of pets, and make the data available to insurance companies to facilitate the development of insurance products tailored to meet specific needs.

A GIAK official said, “We will consider options, such as converging of animal medical care statistics, and the scope of coverage for the development of pet animal insurance products and GIAK will give in-depth discussions into tasks to institutionalize pet animal insurance products, such as simplifying of insurance payment demand procedures and issuing medical care documents.”