DB Insurance is introducing a special clause that covers the risks of license cancellation during the transaction of individual taxi licenses.
On September 21, DB Insurance announced that it has signed a memorandum of understanding (MOU) with Namba One Taxi, a company specializing in individual taxi license management, and TPA Korea to develop a special clause aimed at establishing a safety net in the individual taxi license transaction market.
Namba One Taxi is a specialized company that has expanded its business scope from direct matching of individual taxi license transactions to managing licenses from acquisition to transfer. This special clause is a form of corporate insurance that guarantees the compensation costs paid by the license brokerage company to its customers.
If a transferee who acquires an individual taxi license through Namba One Taxi has their license canceled due to the transferor's fault, Namba One Taxi will provide compensation to the customer through its own compensation service, 'Immediate Guarantee.' This applies in cases where the transferor failed to disclose disqualifying factors, such as prior drunk driving.
In this process, DB Insurance will cover the costs incurred by Namba One Taxi for customer compensation through insurance. This structure supports the brokerage company in fulfilling its compensation obligations reliably in the event of license cancellation. TPA Korea will handle the related practical matters.
DB Insurance explained that managing the risks that can arise during the transaction process is crucial, as individual taxi licenses serve as a means of livelihood for drivers and are also utilized as retirement assets.
A representative from DB Insurance stated, "The essence of insurance is to share risks that individuals and businesses find difficult to bear. We believe it is significant to present a suitable solution for the area of individual taxi license transactions that has been in a protection gap until now."
He added, "We will continue to closely examine the actual risks in the field and consistently identify necessary protections for society."
On September 21, DB Insurance announced that it has signed a memorandum of understanding (MOU) with Namba One Taxi, a company specializing in individual taxi license management, and TPA Korea to develop a special clause aimed at establishing a safety net in the individual taxi license transaction market.
Namba One Taxi is a specialized company that has expanded its business scope from direct matching of individual taxi license transactions to managing licenses from acquisition to transfer. This special clause is a form of corporate insurance that guarantees the compensation costs paid by the license brokerage company to its customers.
If a transferee who acquires an individual taxi license through Namba One Taxi has their license canceled due to the transferor's fault, Namba One Taxi will provide compensation to the customer through its own compensation service, 'Immediate Guarantee.' This applies in cases where the transferor failed to disclose disqualifying factors, such as prior drunk driving.
In this process, DB Insurance will cover the costs incurred by Namba One Taxi for customer compensation through insurance. This structure supports the brokerage company in fulfilling its compensation obligations reliably in the event of license cancellation. TPA Korea will handle the related practical matters.
DB Insurance explained that managing the risks that can arise during the transaction process is crucial, as individual taxi licenses serve as a means of livelihood for drivers and are also utilized as retirement assets.
A representative from DB Insurance stated, "The essence of insurance is to share risks that individuals and businesses find difficult to bear. We believe it is significant to present a suitable solution for the area of individual taxi license transactions that has been in a protection gap until now."
He added, "We will continue to closely examine the actual risks in the field and consistently identify necessary protections for society."
* This article has been translated by AI.
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