South Korea’s electric vehicle insurers are facing mounting financial strain as the loss ratio—a key measure of profitability—has surged to over 107%, indicating claims exceed premiums. Meanwhile, Tesla’s sales in the country have tripled, raising concerns about rising repair and maintenance costs linked to high-performance EVs. Industry analysts warn the imbalance could pressure insurers to adjust coverage terms or premiums. The shift reflects both growing EV adoption and the unique challenges of insuring cutting-edge, high-value vehicles.

Korea EV Loss Ratio Hits 107.6% as Tesla Sales Triple [2026]  https://tech-insider.org/