A comprehensive corporate insurance bundling the cover a company needs — property, BI, liability — into one policy for cost-efficient management. The SME/mid-sized standard solution.
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 corporate insurance bundling the cover a company needs — property, BI, liability — into one policy for cost-efficient management. The SME/mid-sized standard solution.
Property, machinery, BI and liability combined in one policy — simple management and claims.
Choose only the sections needed by sector/asset scale — removing unneeded cover optimises the premium.
The property section is usually all-risks-based — covering a wide range of accidents beyond fire.
The whole risk is re-assessed at once at renewal, easing renewal management.
Companies with factory/warehouse/office integrating property + liability.
Franchises and distributors with many stores.
Large facilities combined with customer-safety risk.
| Mid manufacturer (asset value 10bn) | Section I property 10bn / Section II machinery 3bn / Section III BI (12 months) 5bn / Section IV GL 1bn per accident |
|---|---|
| Logistics centre (4 storeys · 10,000㎡) | Building/fixtures 7bn / stock 5bn (theft endorsement) / BI 3bn (7-day excess · 12 months) / GL 500m (incl. fire liability) |
Figures above are sum-insured (cover-limit) design examples, not premiums. (General industry example)
| Policy period | 1 year (renewable) |
|---|---|
| Insurers | AIG · Chubb · DB · KB · Meritz · Hyundai (compared) |
| Structure | Section combination by sector/asset scale |
| Turnaround | 3–7 business days |
| 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.
SME standard — five areas integrating assets, liability and BI
Single factory/facility operation. A fire/machinery/stock/BI/PL integrated-enrolment efficiency area.
Logistics facilities and warehouses. Stock-value cover + BI combination is the core area.
Self-employed / small service. Fire + commercial/facility liability + BI integrated for management efficiency.
Office, consulting, professional offices. An asset + commercial-liability + cyber combination area.
Small manufacturing and craft. A high single-policy-management-efficiency area.
An SME food processor, insured under a package covering fire, assets, BI and PL, suffered a night fire. The facility/machinery loss was reviewed under the package's asset cover, the lost turnover from the stoppage was handled separately under the BI item, and the part where some product was distributed after the fire and recalled on a consumer report was reviewed separately under the PL area. Being a package wording, several areas operated at once from a single policy, but as each item had its own limit and deductible, confirming the cover limit of each area was central to the post-accident process — a case showing why per-item limits matter.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
A package wording has some auto-included cover by item, while some cover needs a separate endorsement. Even auto-included cover has a separate per-item limit, so 'a package covers everything' can lead to a post-accident cover gap.
The BI indemnity period (12/24 months), daily limit and stock limit are often short against the site's actual risk exposure. A site with a big peak/off-peak difference should design on peak turnover, and a fast-stock-turnover sector needs cover-value re-assessment.
A package wording is a standardised cover structure and may fall short for a large company, high-value assets or multiple sites. Beyond a certain turnover/asset level, review a combination with, or a switch to, property all-risks.
The questions decision-makers ask most when considering package (combined) insurance
It suits SME sites taking out, as one integrated package, the many wordings — fire, liability, BI — that would otherwise be bought separately. A single policy combining assets + liability + business interruption gives high management efficiency and cover consistency. The large-company standard is usually the separate property all-risks area.
Usually (1) fire/lightning/explosion asset loss, (2) storm-flood natural disaster (endorsement), (3) theft, (4) business-interruption loss (BI), (5) commercial/facility liability and (6) gas/electrical-accident cover. The split between automatically included and separate-endorsement cover differs by wording, so check at enrolment.
A package wording sets a separate limit per cover item. The fire-asset limit, the BI indemnity period/daily limit and the liability limit each differ, so the limit must be adjusted to the site's actual risk exposure. Even an auto-included structure may not fully cover the actual loss.
An SME / single site is better on management and cost efficiency with a package, while a large company / multi-site / high-value assets is more precise with separate wordings (all-risks, standalone BI, environmental liability). The choice differs by business scale and risk profile, so a broker's comparative quote is recommended.
Stock is usually included in a package wording, but needs a separate limit where value is volatile. Machinery fire loss is included, but wear, electrical accident and accidental loss are separated into the machinery-breakdown area. The per-asset-type limit and exclusions must be checked in advance.
Package BI is usually set at a 12/24-month indemnity period with a daily limit and an own-burden period (usually 7–14 days). A site with a big peak/off-peak turnover difference should design the limit on peak turnover, not average, and indirect loss from supply-chain disruption is a separate-wording area.
The insurer assesses it on the site scale, sector (manufacturing, service, logistics), asset value, fire-risk grade, turnover (for the BI 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.
