, South Korea

Robots gets insurance cover in South Korea

It can cover almost every accident caused by service robots.

The insurance arm of Lotte Group, Lotte Insurance has partnered with  service robot company Big Wave Robotics to release an indemnity liability insurance plan for store owners who use robots for delivery or service, according to a report by Aju Business Daily.

The plan covers damage caused by robots as well as accidents that take place inside the store premises caused by robots. It also covers damage to the store’s products. Previously, store owners had to buy multiple insurance to protect their store from damages caused by service robots.

Some 630 service robots are deployed to about 500 restaurants in South Korea. Service robots have grown in popularity amongst store owners who wished to cut down on labour costs.

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