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With an in-depth understanding of all aspects of the insurance industry, abundant experience, and dedicated professionalism, Yulchon’s Insurance Practice offers comprehensive legal service on all aspects of the insurance industry.  With the growth of the insurance market in Korea to the level of its counterparts across the globe and the increasing number of disputes with international factors, Yulchon’s professionals are known to best serve the clients in areas such as providing advice on coverage-related matters, serving as monitoring counsel, and assisting with insurance litigation and arbitration.  Indeed, the Legal 500 named Yulchon one of the notable law firms in the field of insurance for 2012, and Mr. Young Seok Lee, the head of the Insurance Practice, was named a Tier 1 Lawyer in the practice area of insurance.

Major Practice Areas

  • Representation in litigation or arbitration between insurance companies, i.e., between the original underwriter and reinsurer
  • Legal counseling on coverage-related issues in various corporate insurance policies, e.g., directors’ and officers’ liability insurance, professional liability insurance
  • Legal counseling related to reinsurance
  • Serving as a monitoring counsel in a liability insurance litigation
  • Representation in other types of insurance-related arbitration

  • Defended an insurance company in an additional arbitration process regarding a claim for insurance proceeds under directors and officers liability insurance
  • Represented an original insurance company in claiming payment from reinsurers under a directors’ and officers’ liability insurance policy
  • Represented an insurance company in a claim for defense costs regarding criminal procedure against one of the insureds in a directors’ and officers’ liability policy
  • Acted as monitoring counsel for foreign original insurance companies and reinsurance companies regarding large-scale litigation in Korea
  • Provided numerous coverage opinions regarding various types of policies for insurance companies
  • Represented a bank in claiming payment under export insurance regarding a refund-guarantee in a shipbuilding contract

Contact Professionals

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