Cover for the death, disease, fire and storm-flood loss of livestock at livestock and horse farms. An integrated product of the government's policy-type insurance and private insurance. Equine cover is a dedicated endorsement for racehorses and riding horses.
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.
Cover for the death, disease, fire and storm-flood loss of livestock at livestock and horse farms. An integrated product of the government's policy-type insurance and private insurance. Equine cover is a dedicated endorsement for racehorses and riding horses.
Cattle-centred farms.
Large-scale pig and chicken rearing.
Racehorses and riding horses.
| Government subsidy | Linked to policy-type livestock cover |
|---|---|
| Equine dedicated | Racehorses and stud horses |
| Breeding success rate | Linked to conception rate |
| Policy period | 1 year |
|---|---|
| Insurer | Hyundai |
| Limit | Based on the appraised value of the livestock |
| Turnaround | 2–3 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 by species reared
Korean-beef and dairy farms. A high single-animal-value area, combining death risk with facility fire.
Pig-rearing farms. A high epidemic-risk area for foot-and-mouth disease, ASF and the like.
Broiler, layer and duck farms. An avian-influenza (AI) risk area.
Sites exposed to heatwave and cold snaps. An area for combining natural-disaster endorsements.
Large livestock corporations. An integrated area of facility, livestock and BI.
At a poultry farm, a summer heatwave caused many deaths in a short time. The base wording was fire- and storm-flood-centred, so heatwave death was not automatically covered, but a site that had combined a heatwave endorsement had its cover reviewed. At the same time, the part where the ventilation system stopped during a power failure was additionally reviewed under the rearing-environment-accident area. A case where, in a complex accident combining natural disaster and a facility accident, the endorsement-combination design determined the cover difference — showing that precise cover matched to the site's climate risk and facility dependence is key.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
The cover scope for statutory livestock epidemics (foot-and-mouth, ASF, AI) differs by wording. Confirm in advance the overlap/complement between the government cull-compensation and this wording, and combining an endorsement for loss beyond government compensation is recommended.
The base wording is storm-flood and lightning centred, and heatwave/cold-snap death often needs a separate endorsement. Choosing the endorsement to match the site's climate risk is key to preventing a cover gap.
The base wording is farm-accident centred; accidents during livestock transport or at the slaughterhouse need a separate endorsement or a combination with the movable-property comprehensive area. A combined design is recommended for farms with frequent transport/shipment.
The questions decision-makers ask most when considering livestock comprehensive insurance
It covers loss where a farm's livestock (cattle, pigs, chickens, ducks and so on) die or are culled from fire, natural disaster, disease or accident. It combines cover for the livestock assets, the housing facilities and business interruption.
Fire and explosion, natural disaster (typhoon, flood, lightning, heatwave, cold snap), death from (some statutory) livestock epidemics, rearing-environment accidents from power failure or electrical fault, and some culling/disposal loss are the usual cover areas. Exclusions and limits differ by wording.
Statutory livestock epidemics such as foot-and-mouth disease and avian influenza vary in cover scope by wording. There are areas coverable separately from the government cull-compensation, and areas that supplement loss beyond government compensation, so the wording should be reviewed to match the species reared.
The base wording covers some natural disasters such as storm/flood and lightning, but death from heatwave or cold snap often needs a separate endorsement. Combining with policy-type storm-flood insurance is common, and choosing the endorsement to match the site's climate risk matters.
Accidents during livestock transport (falls, traffic accidents) and some accidents in the slaughter process can be covered by a separate endorsement or in combination with movable-property comprehensive insurance. The base wording is farm-centred, so transport/slaughter cover needs review.
Livestock buildings, facilities and equipment can be covered under this comprehensive policy or separately under fire/property-comprehensive insurance. The key is designing the three areas — livestock assets, facility assets and business interruption (lost sales from livestock death) — in balance.
The insurer assesses it on the species, head count and value, the site location, the natural-disaster risk grade, the rearing environment, past death history and whether a government subsidy applies. The exact premium and whether cover can be accepted are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
