Comments on: N. Korea applies for reinsurance, releases disaster details

By: Are You NKay? | :: North Korea Making Insurance Claims :: September :: 2006 North Korean Human Rights blogged by a member of Liberty in North Korea

Wed, 20 Sep 2006 18:45:17 +0000

[...] According to the Marmot, North Korea has already claimed their flood insurance policy. [...]

By: JiMong

JiMong — Wed, 20 Sep 2006 17:01:06 +0000

I heard that this substantial amount of claim could not be a subject to the financial sanctions. Is it?

By: Zonath

Zonath — Wed, 20 Sep 2006 16:22:17 +0000

And if the reinsurers pay out, whom, pray tell, will the money go to???

Well, considering that the ‘insurance company’ is probably operated by the government (likely with some sort of mandatory participation in place for Joe Norker), your guess is as good as mine ;). I’m a bit concerned, though… Is North Korea venturing into the practice of insurance fraud by offing its own people and then claiming their life insurance policies? I certainly wouldn’t put it past them.

By: sewing

sewing — Wed, 20 Sep 2006 16:10:12 +0000

Wow, I’ve just seen three different themes/templates in the space of one minute! Wonder if I’ll see another one when I post this?

By: sewing

sewing — Wed, 20 Sep 2006 16:09:33 +0000

Sorry, “who,” not “whom.”

By: sewing

sewing — Wed, 20 Sep 2006 16:08:41 +0000

Robert! The last theme was fine! Why are you changing it again?

***

On the topic at hand, it was a surprise to me that the Norks would even have insurance (let alone reinsurance) out on these things.

And if the reinsurers pay out, whom, pray tell, will the money go to???

By: ShiGye

ShiGye — Wed, 20 Sep 2006 15:35:35 +0000

The article never states if the Nork insurance company ever paid anything. That just adds to the suspicion that this is just another way to recover the monies tied up by the US financial sanctions. If they do get the reinsurers to pay, how do they get the money?

By: Zonath

Zonath — Wed, 20 Sep 2006 15:14:43 +0000

Would you trust an insurance claim coming from the North Korean government if you were an insurance appraiser or investigator?

Of course not, but then again, insurance adjustors are suspicious by nature… It’s what they’re paid to be.

By: Pyotr

Pyotr — Wed, 20 Sep 2006 11:56:01 +0000

I just reloaded the page and all of a sudden there is a new theme. Somehow clearer and lighter.

Things move quickly around these parts…

By: bitacle.org

bitacle.org — Wed, 20 Sep 2006 10:12:59 +0000

Bitacle Blog Search Archive - N. Korea applies for reinsurance, releases disaster details…

[...] The JoongAng Ilboreports that North Korea has asked British and Russian reinsurance companies to pay Pyongang reinsurance claims . [...]…