The Financial Supervisory Agency plans to conduct an investigation into the sales activities of life insurers to forestall a recurrence of a series of insurance-for-murder cases, FSA officials said Wednesday.
The FSA, the nation's financial watchdog, aims to prevent unscrupulous people from taking out multiple policies on another person at different insurance firms with the intention of murdering that person later for the insurance money, the officials said.
The agency wants insurance companies to confirm that a person who has had a multiple number of policies taken out in his or her name by another person really agreed to the policies in the first place, they said.