Cyber Risk Insurance (사이버위험 보험)
Cyber Risk Insurance (사이버위험 보험) is a cyber insurance product underwritten by Samsung Fire & Marine Insurance Co., Ltd. (삼성화재) (Samsung Fire & Marine Insurance Co., Ltd. (South Korea — Samsung Group)), available in South Korea. It is aimed at mid-market companies and large enterprises. Coverage limits reach up to Bespoke (KRW).. The carrier holds an AM Best rating of A+ (Superior) – AM Best. It can be approached directly through the provider.
Product Details§ 01
Advantages & Limitations§ 02
Advantages
- #1 P&C insurer in South Korea; global network of 20+ offices in 11 countries. South Korea cyber market: KRW 65.8bn (~$47M USD) as of 2024; 22% CAGR projected. May 2025: Cyberwrite partnership for AI-driven cyber catastrophe modelling and real-time underwriting analytics — 4SEEN platform deployed; improving SME risk assessment. Leading KIIC 2025 sponsor (Korea International Insurance Conference); committed to cyber risk expansion. Coverage: data breach, ransomware, BI, cyber extortion, third-party liability, privacy regulation compliance (PIPA). 2024: SK Telecom USIM hack, YES ransomware, Lotte Card breach — driving market awareness.
Limitations
- KRW-denominated domestic product; international coverage via global commercial partnerships.
- No public information available about the product.
Contact & Response§ 03
Frequently asked questions§ 04
+Who is Cyber Risk Insurance (사이버위험 보험) designed for?
Cyber Risk Insurance (사이버위험 보험) by Samsung Fire & Marine Insurance Co., Ltd. (삼성화재) targets mid-market companies and large enterprises in South Korea. Geographic scope: Domestic only..
+Does Cyber Risk Insurance (사이버위험 보험) help with NIS2 or DORA compliance?
Samsung Fire & Marine Insurance Co., Ltd. (삼성화재) indicates the following NIS2/DORA support for this product: Not applicable..
+How can I buy Cyber Risk Insurance (사이버위험 보험) in South Korea?
You can approach Samsung Fire & Marine Insurance Co., Ltd. (삼성화재) directly (1800-1520 / https://www.samsungfire.com/) or via the provider's website. Compare it with alternatives in South Korea on Ryskly first.