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South Korea: More than 1500 join class action against life insurers

By  |  February 5, 2013
South Korea: More than 1500 join class action against life insurers

A massive class-action suit has been brought against seven life insurance firms in South Korea according to the Korea Finance Consumer Federation. At least 1,500 consumers have joined the class action that accuses the firms of price-fixing concerning their insurance premiums. Among those accused is Samsung Life, which received the most complaints – about 600, according to reports. The KFCF is currently seeking more participants for the suit.

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