Vice Chairman Kim Soyoung of the Financial Services Commission presided over the second insurance reform committee meeting joined by officials from the Financial Supervisory Service, related thinktanks, industry associations, and insurance companies on August 8. At the meeting, participants discussed ways to increase accountability in the insurance industry and make practical improvements to the coverage and benefit of various types of insurance products. The insurance reform committee will hold meetings throughout this year on a monthly basis to seek improvements on the 60-plus specific reform tasks under 10 key strategies. At the meeting, Vice Chairman Kim stressed the importance of laying foundations to boost public confidence in the insurance industry as a precondition for successful implementation of the reform measures.