"Oh No, Suddenly Canceled?" A Must-Read for Devastated Fans: The Ultimate Insurance to Protect Your Money [Sunday Culture]

MyInsurance, a JCB Subsidiary, Launches "Oshikatsu Cancel Insurance"
Coverage for Force Majeure Events Such as Organizer Cancellations
Reimbursement for Airfare and Accommodation Costs Within Policy Limits

We now live in an era where people are willing to cross borders just to see their favorite singer or actor. On days when idol concerts are held in Korea, airports are often crowded with overseas fans flocking to the country. This means there are many fans who are willing to spend large sums of money, including airfare and accommodation, just to see their favorite star.

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However, even after securing a ticket, fans remain anxious until they finally enter the venue. If the organizer suddenly cancels the event, or if the flight is delayed or canceled, it becomes a major issue. And if a family member suddenly falls ill, fans may have no other choice but to abandon their plans with heavy hearts.

Introduction image of Oshikatsu Cancel Insurance. MyInsurance.

Insurance products designed to address these concerns are now available. MyInsurance, a subsidiary operated by Japan’s leading card company JCB, has launched the 'Oshikatsu Cancel Insurance.' 'Oshikatsu' is a Japanese term that refers to fan activities, similar to what is called ‘deokjil’ in Korea.

According to MyInsurance, this insurance was created to support fans who want to travel domestically or internationally to meet their favorite artists, or to make the most of their fan activity funds. MyInsurance reports that one in five fans has experienced the sudden cancellation of such a trip. Of these, 30% have suffered losses of over 30,000 yen (270,000 won) from non-refundable accommodation and transportation costs. Beyond the disappointment of missing out on seeing their favorite artist, the prospect of unrecoverable expenses for lodging and travel can be truly overwhelming.

For this reason, the insurance covers a variety of situations that may arise before a fan trip, including: ▲ delays or cancellations of transportation such as flights ▲ the cancellation of a pre-purchased event ticket ▲ contracting an infectious disease such as influenza ▲ a sudden hospitalization or medical emergency for a pet ▲ hospitalization or medical emergency for a family member ▲ and cases where the passport has expired. In these situations, the insurance reimburses accommodation and transportation expenses within the coverage limit.

Image of an "Oshikatsu Cancel Insurance" subscription. It is introduced as being easily subscribable through an application (app). MyInsurance.

Examples of eligible incidents include a musical scheduled in Tokyo being canceled two days before the performance, resulting in a 100% cancellation fee, or all dates of a K-pop idol tour being canceled the day before departure, leading to cancellation fees for airfare and hotel reservations. In such cases, the insurance will provide compensation.

However, if a friend has the ticket and you miss the event because your friend is late, or if the group performance is held but only your favorite member is absent due to illness, these situations are not covered.

MyInsurance offers two plans: one for domestic trips within Japan and another for overseas trips. The domestic plan costs 900 yen (8,300 won) and covers up to 30,000 yen. For overseas trips, the premium is 2,720 yen (25,000 won), with coverage up to 100,000 yen (930,000 won).

It is often said that seeing your favorite artist in person requires an extraordinary amount of luck. If fate is not on your side, unexpected and unreasonable things can happen to prevent you from going. Japanese fans even visit shrines reputed to bring good fortune or purchase related charms to improve their luck. While it may seem like there is insurance for everything these days, this product truly embodies the spirit of insurance—preparing for the possibility of rare but impactful events.

This content was produced with the assistance of AI translation services.