DB Insurance

DB Insurance Co, Ltd. (Korean: DB손해보험), formerly Hankook Automobile Insurance (Korean: 한국자동차보험), is a South Korean insurance company.[1] It is headquartered in Seoul and was established in 1963.[1] The fire insurance group division of the company controls a large portion of the South Korean calling card market under the insurance brand name Promy.[2]

History

Since founded on January 24, 1969, under the philosophy of becoming a ‘Good Company’ by Junki Kim, the founding chairman, DB Group has grown by contributing to national economy and industrial development, overcoming the disadvantages of latecomers who have lagged 30 to 40 years behind Korea's first-generation groups.[3] DB INSURANCE, which was launched as Korea's first public auto insurance company in 1962, became a member of DB Group in 1983 and changed its name to DB Insurance Co., Ltd in October 1995, emerging as a prominent comprehensive non-life insurer in Korea driven by its focus on customer satisfaction and sound financial status.[3] On November 1, 2017, the company changed its name to DB INSURANCE Co., Ltd. in order to become a global insurance finance company.[3]

Products

Bodily injury liability I (Compulsory insurance)

Mandatory insurance regulated by the Automobile Liability Security Act

Voluntary insurance
  • Bodily injury liability II : compensation for the bodily liability that exceeds coverage limit of liability insurance
  • Property damage liability (compulsory subscription of up to 10 million won per accident is required under the Automobile Liability Security Act)
  • Personal accidents
  • Physical damage
  • Automobile accidents and accidents by uninsured motorists

Long-term Insurance[5]
Products Key Contents
Drivers
  • To cover losses of the policy holder that is not covered by auto insurance
Accident / Health
  • To cover bodily injury of the insured by accidents and death from diseases or medical expense
Property
  • To cover property damage including long-term fire insurance
Integrated
  • To cover household, comprehensive and life-time security
Savings/Annuity
  • Insurance that focuses on savings including refunds of maturity and personal annuity

Fire Insurance
  • House
  • Factory
  • General

Marine Insurance
  • cargo
  • vessel
  • aviation
  • transportation
  • comprehensive marine
  • marine liability

Casualty Insurance

Engineering insurance

  • erection all risks
  • machinery
  • contractors' all risks
  • electronic equipment

Workers' compensation protection

  • domestic
  • overseas
  • sailors
  • vocational trainees

Liability insurance

  • general liability
  • product liability
  • professional liability

Comprehensive insurance

  • households
  • corporations

Accident

  • personal
  • group and tourists insurances, etc.

Other casualty insurance

  • nuclear energy
  • theft
  • others

See also

References
  1. "DB Insurance Corporate History". ir.idbins.com. Retrieved 2018-05-26.
  2. "DB Insurance Co, Ltd. Claim handing Service". ir.idbins.com. Retrieved 2018-05-26.
  3. "DB Insurance Co, Ltd Introduction". ir.idbins.com. Retrieved 2018-05-26.
  4. "DB Insurance [Auto Insurance]". ir.idbins.com. Retrieved 2018-05-26.
  5. "DB Insurance [Long-term Insurance]". ir.idbins.com. Retrieved 2018-05-26.
  6. "DB Insurance [Commercial Insurance]". ir.idbins.com. Retrieved 2018-05-26.
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