Tuesday, November 18, 2014

Product Reliability Insurance - K-sure,

This product covers faulty or damaged parts/components and
materials produced by domestic companies upon delivery.
Liability insurance was launched to boost competiveness
of certified or non-certified domestic companies, especially
SMEs, producing parts, components and materials and wean
Korea’s dependence on overseas in this area. This product
covers those goods produced in Korea but determined to be faulty or damaged upon delivery.

Scope of Coverage

Product Reliability Insurance Scope of Coverage table
Category Covered Areas Contents
Basic Coverage Product Guarantee Repair or replacement costs that the policyholder is liable for defected or damaged products after delivery to a third party.
Selective Coverage Product Liability Personal or property damages that the policyholder is liable due to product defect or damage after delivery.
Product Recall Overall costs of recall due to product defect or damage of those parts/components and materials produced by domestic companies.

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