Insurers in South Korea have tightened the liability insurance protocol, as fires and related mishaps involving electric vehicles (EVs) continue to rise in the country.
Liability insurance to cover fire mishaps at EV charging stations has been made mandatory since 1 January 2026. According to news reports, Korea Life Insurance Association and General Insurance Association sources said the new insurance cover will include bodily injury and property damage caused by fires, explosions or electric shocks at charging stations. The insurance will be mandatory for EV charging operators as well as apartment complexes and other entities required to install chargers. Failure to comply will result in a fine of KRW2m ($1,385).
The insurance coverage will be limited to KRW150m per person for bodily injury and up to KRW1bn per accident for property damage. The new policy will also include incidents in which charging connectors are damaged due to overheating or electrical malfunctions, resulting in damage to vehicles.
For losses that exceed the coverage underwritten by private insurers, an additional claims mechanism will operate to cover the excess, which will be funded jointly by the government and EV manufacturers.
The new initiative should give a boost to the rollout of EV charging infrastructure in South Korea.