A comprehensive property insurance covering a mid-to-large company's whole property — real estate, chattel, fixtures, stock, machinery — on a single policy, linked with business-interruption (BI) and machinery-risk (MB) endorsements for integrated risk management.
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 property insurance that covers a mid-to-large company's whole property — real estate, chattel, fixtures, stock, machinery — on a single policy, and links business-interruption (BI) and machinery-risk (MB) endorsements for integrated risk management.
HQ, factory, logistics warehouse and branches managed together on one policy.
Extend indirect loss with Business Interruption and Machinery Breakdown endorsements.
Stock adjusted by monthly declaration → minimising over/under compensation risk.
Acceptance up to the tens-to-hundreds-of-billions limit through the domestic/overseas reinsurance network.
Manufacturing, logistics, distribution, service with multiple sites.
Korean entities needing a global-programme link.
Sectors with high stored-asset value needing detailed cover design.
| Policy period | 1 year |
|---|---|
| Insurers | AIG · Chubb · DB · KB · Meritz · Hyundai (compared, reinsurance-linked) |
| Sum insured | By replacement value (TIV) + BI |
| Turnaround | 2–6 weeks (including reinsurance for high amounts) |
| 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 management — a five-scenario self-check
Managing several sites on one policy reduces cover gaps and management burden.
Stock value changes over time, so a fixed sum insured creates over/under-insurance risk.
Suited to Korean entities needing a link to the head-office global programme.
Facilities with high stored-asset value need a detailed cover design.
Suited to companies that must handle machinery failure and BI loss in one frame, not just fire.
Corporate property insurance is not "fire insurance". It comprehensively covers all of a company's property — real estate, chattel, fixtures, stock, machinery, IT equipment — and extends by endorsement beyond simple fire/storm-flood to mechanical/electrical accidents, business-interruption loss (BI) and corporate liability. Two things matter. First, the sum insured must match the actual property value (TIV); if it is below the actual value, the under-insurance problem arises where the claim is reduced in proportion. Second, stock whose value changes frequently is usually adjusted on a monthly-declaration (stock-flow) basis to reduce over/under-insurance risk.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
If the sum insured is below the actual property value, the under-insurance problem arises where the claim is reduced in proportion. The asset value must be assessed accurately to set the sum insured.
Stock whose value changes frequently is usually adjusted by monthly declaration. Leaving it at a fixed amount creates over/under-insurance risk.
Beyond direct fire loss, indirect loss such as business-interruption (BI) and machinery-risk (MB) is covered only by extending an endorsement.
Factory property is assessed on the building-structure grade plus what is made (sector/process). The same building differs between a simple processing/assembly line and a process handling heat/flammable materials. Organising the actual process flow (raw material → product) with the building information makes underwriting accurate and fast.
The questions decision-makers ask most when considering corporate property insurance
It comprehensively covers all of a company's property — real estate, chattel, fixtures, stock, machinery, IT equipment — and extends by endorsement beyond fire and storm-flood to mechanical/electrical accidents, business-interruption loss and corporate liability.
Where fire insurance handles fire-centred loss, corporate property insurance covers the company's property as a whole and can integrate indirect loss (BI, MB) and liability into one design.
It is set to the actual property value (TIV). If the sum insured is below the actual value, the under-insurance problem arises where the claim is reduced in proportion, so the asset value must be assessed accurately.
Stock whose value changes frequently is usually designed on a monthly-declaration (stock-flow) basis to adjust the sum insured, reducing the over/under-insurance risk.
HQ, factory, logistics warehouse and branches can be managed together on a single policy. It helps reduce cover gaps and management burden.
A factory is assessed on two axes — building-structure grade and sector/process risk. The same 'factory' has different fire risk by what it makes, so a simple processing/assembly line and a process handling heat/flammable materials are viewed differently. Organising the building information together with the process flow (raw material → product) at proposal smooths underwriting.
The insurer assesses it on property scale (TIV), sector, the number and risk of sites, the combined endorsements (BI, MB) and limit, and past incident history. The exact premium and acceptance are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
