A comprehensive marine/transport insurance covering the whole-business risk of a logistics company (3PL, forwarder, warehouse operator, carrier) on a single policy. One-stop design of cargo liability, warehouse-keeper liability, facility property, machinery, general liability, cyber and workers' accident.
N2N Insurance Brokerage does not represent any single insurer — it independently represents the client as an FSS-registered broker (Reg. No. 2026-012201). We compare the wordings, rates and service of AIG · Chubb · DB · Hyundai · KB · Meritz to propose the cover and price best suited to your risk. Each insurer's full wording is provided at application and binding.
A comprehensive marine/transport insurance covering the whole-business risk of a logistics company (3PL, forwarder, warehouse operator, carrier) on a single policy. One-stop design of cargo liability, warehouse-keeper liability, facility property, machinery, general liability, cyber and workers' accident — unifying contract management for mid-sized logistics companies.
3+ warehouses, annual turnover from KRW 10bn.
B/L issuance, overseas network.
Including two-wheelers and quick service.
Frozen/chilled temperature-maintenance cover.
| A. Cargo liability | Forwarder/carrier/warehouse-keeper legal liability |
|---|---|
| B. Property (warehouse/office) | Logistics-centre / terminal assets |
| C. Machinery (MB) | Conveyor, crane, forklift, refrigeration |
| D. General liability (GL) | Third-party accident in the facility |
| E. Workers' accident / F. Cyber·E&O | Logistics-worker accident / WMS·TMS system |
| Policy period | 1 year |
|---|---|
| Insurers | AIG · Chubb · DB · KB · Meritz · Hyundai (compared) |
| Structure | Module combination by business profile |
| Turnaround | 2–4 weeks |
| Channel | Individual consultation with our broker (010-5755-6465) |
If the insured event has already occurred at the time the contract is made, the contract is void. However, where the contract is void due to the company's intent or negligence, or where the company knew or could have known of the nullity before acceptance yet did not refund the premium, the company refunds the premium with interest at the policy-loan rate published by the Korea Insurance Development Institute, compounded annually, for the period from the day after payment to the day of refund.
The specific losses not covered (exclusions) are set out in each insurer's policy wording and product description; on this page, see the “Cover” tab(or the “Losses not covered” section) for the main exclusions. For other cover-specific grounds on which claims are not paid, please refer to the policy wording.
The company provides cover, in accordance with the policy, from the time it accepts the application and receives the first premium. Where the company accepts the application after receiving the first premium with it, cover also begins from the time the first premium was received.
The application must be completed by the policyholder, and the policyholder and the insured must sign it by hand. Failure to sign by hand may result in disadvantages regarding the validity of the contract. On an internet cyber-mall, an electronic signature may be used instead.
The policyholder has the right to be given and have explained the information needed about the product they wish to buy.
The insurer and N2N Insurance Brokerage must explain the important matters of the product to ordinary financial consumers.
When applying, the policyholder, the insured or their agent must disclose truthfully the facts they know regarding the questions in the application (including the questionnaire). Otherwise the claim may be declined or the contract cancelled. Where insurance is taken out by telephone or other means of communication, the duty is performed by answering the seller's questions, which are recorded, without a separate written questionnaire, so answers must be given with particular care.
If, after the contract is made, any of the following arises in respect of the subject-matter insured, the policyholder or the insured must notify the company in writing without delay and obtain endorsement on the policy.
The surrender value is the amount paid if the contract is cancelled early. Unlike bank savings, insurance combines risk protection and savings: part of the premium is paid out as claims to other policyholders who suffer accidents, and part covers the insurer's operating expenses, so the surrender value on early cancellation may be less than the premiums paid, or nil.
Under Article 59-4(1) of the Income Tax Act (special tax credit), for protection-type insurance taken out by an employee only, a tax credit of 12% of the premium paid (capped at KRW 1 million per year) is available. Tax matters may change with amendment or repeal of the relevant tax law.
Except as provided by law, the insurer and N2N Insurance Brokerage do not collect, use, inspect or provide personal data related to this contract — for its conclusion, maintenance and claim payment — without the consent of the policyholder, the insured or the beneficiary. However, for those purposes the insurer may, with the consent of the policyholder and the insured and in accordance with law, provide personal data to other insurers and insurance-related bodies.
The above is a summary and excerpt of the policy wording; for grounds on which claims are not paid and other details, please refer to the policy wording and product description.
Five areas where storage, transport and handling risk mix
3+ warehouses with cargo, property and facility risk mixed. An integrated-management efficiency area.
B/L issuance and an overseas network. A cargo-liability + overseas-network risk area.
Including two-wheelers and quick service. A delivery-stage accident risk area.
Frozen/chilled temperature maintenance. A temperature-deviation accident cover area.
Suited to companies that must handle cargo, property, machinery, liability, workers' accident and cyber in one frame.
A logistics company's risk is not one thing. Legal liability for cargo loss in transit, warehouse/terminal fire, storm-flood and theft, breakdown of machinery such as conveyors, cranes and refrigeration, third-party accidents in the facility, logistics-worker accidents, and failure or data error of logistics systems such as WMS and TMS — several risks of different character sit together within one business. Logistics comprehensive insurance binds these risks by module into a single-policy design. Its core value is reducing the gaps and overlaps between cover areas and unifying contract management and incident response. But even an integrated policy has different risk/exclusions per module, so check that the modules your business needs are all included.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
Modules — cargo, warehouse, machinery, facility liability, workers' accident, cyber — each have a different risk and exclusion structure. Check that the modules your business needs are all included.
Pure economic loss from transport/storage delay with no physical cargo damage is within the exclusions.
Where the transport contract agrees to bear aggravated liability beyond the usual, that excess liability is handled by a separate endorsement.
The questions decision-makers ask most when considering logistics comprehensive insurance
It is a comprehensive insurance binding into one policy, by module, all the risk areas of a logistics business (3PL, forwarder, warehouse operator, carrier) — cargo liability, warehouse/terminal property, machinery, facility liability, workers' accident, cyber/E&O.
You can, but a logistics business mixes storage, transport and handling risk within one operation, so an integrated design reduces cover gaps and overlaps and unifies contract management and incident response.
Warehouse/terminal fire, storm-flood and theft, breakdown of machinery such as conveyors and refrigeration, third-party accidents in the facility, logistics-worker accidents and WMS/TMS system failure can be handled together as modules.
Intent/gross negligence, pure economic loss from transport/storage delay, aggravated liability beyond the agreement (without an endorsement), poor packing and breach of the dangerous-goods-handling duty are excluded.
Refrigerated/frozen temperature-maintenance risk can be handled by a separate cover. A cold-chain business should check that temperature-maintenance cover is included.
The insurer assesses it on annual freight/handled volume, warehouse/terminal status, fleet size, the combined modules and limits, and past incident history. The exact premium and acceptance are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
