A global comprehensive package Chubb designed for mid-to-large manufacturers. It combines property (All Risks), machinery breakdown, business interruption (BI), inland transit, crime and liability as modules on an English (manuscript) wording, providing integrated cover that can link with a global head office's master plan.
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 global comprehensive package Chubb designed for mid-to-large manufacturers. It combines property (All Risks), machinery breakdown, business interruption (BI), inland transit, crime and liability as modules on an English (manuscript) wording, providing integrated cover that can link with a global head office's master plan.
Single sites with large annual turnover.
Linked to the head-office master plan.
Needing global claims service.
Holding high-value machinery and precision processes.
| Section I | Property (All Risks, MB, BI) |
|---|---|
| Section II | General Liability (GL), Product (PL) |
| Section III | Transit, inland transit, money loss |
| Section IV | Crime, fidelity, cyber |
| Service interruption | BI from electricity/gas/water failure |
|---|---|
| Contingent BI | Lost turnover from a key partner's accident |
| Earthquake | Earthquake extension |
| Crisis management | Crisis-management expert support |
| Policy period | 1 year |
|---|---|
| Insurer | Chubb (Chubb Insurance) |
| Sum insured | Property and BI 6–24 months by replacement value |
| Turnaround | 4–8 weeks (including reinsurance) |
| Wording | Chubb manuscript (English) |
| 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.
Situations that come up often in corporate property-risk management — a five-scenario self-check
Suited to firms managing property, BI, machinery, transit, crime and liability in a single integrated policy.
English manuscript wording lets cover be matched to the head-office master plan.
Firms with large overseas business and export share need an international claims-response framework.
High-value equipment and precision processes mean large accident losses, needing detailed limit/extension design.
A site with concentrated risk benefits from integrating every risk area without gaps.
The Chubb Master Package is an integrated package binding property (All Risks), business interruption (BI), machinery breakdown (MB), inland transit, crime and liability (GL/PL) in one policy. Its core value is twofold. First, combining the risks as modules reduces gaps and overlaps between cover areas. Second, designing with English manuscript wording lets the global head office's master insurance programme and the Korean entity's cover be aligned. But an integrated package does not mean every risk is automatically covered: war/terror/nuclear, pollution/environment and cyber intrusion are handled by separate endorsements, so check that the modules and endorsements your company needs are actually included.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
Property, BI, machinery, transit, crime and liability each have a different risk and exclusion structure. Check that the modules your company needs are all included.
Even in an integrated package, war/terror/nuclear, pollution/environment and cyber intrusion are handled by separate endorsements, not base cover.
When linking to a head-office master insurance programme, confirm exactly the scope to which the Korean entity is covered.
The questions decision-makers ask most when considering Chubb Master Package
It is an integrated package combining property (All Risks), business interruption (BI), machinery breakdown (MB), inland transit, crime and liability (GL/PL) in a single policy.
Combining the risks as modules reduces gaps and overlaps between cover areas, and designing with English (manuscript) wording lets you align the cover with the global head office's master insurance programme.
No. War, terrorism and nuclear, pollution and environment, and cyber intrusion are handled by separate endorsements, not as base cover. Check that the modules and endorsements your company needs are included.
With English (manuscript) wording, the cover can be matched to the head office's master plan. When linking, confirm exactly the scope to which the Korean entity is covered.
It suits mid-to-large enterprises wanting to manage multiple risks in one policy, multinational Korean entities needing alignment with head-office insurance, and manufacturers holding high-value machinery and precision processes.
The insurer assesses it on the establishment's property scale (TIV) and sector, the modules combined, the limits and deductibles, and the past loss run. The exact premium and acceptance terms are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
