Pusan Pacific Law Office provides expert legal assistance in insurance and reinsurance disputes.
Since its founding, Pusan Pacific has handed 100 to 200 car insurance, fire insurance, liability insurance, life insurance, guarantee insurance, and other general insurance lawsuits each year. Additionally, the firm provides the highest quality legal assistance in litigation and handling insurance disputes involving marine insurance and other specialized insurance claims.
Although there are many firms that handling claims against insurance companies, there are very few law firms in Korea that handling claims between insurance companies. Pusan Pacific is proud to be one of the few firms that are trusted and respected by insurance companies involved in disputes with other insurance companies. Even the largest and most well-known law firms in Korea have limited experience and expertise in handling reinsurance claims. However, Pusan Pacific has significant experience in reinsurance matters and is recognized throughout the Korean insurance markets and around the world for their expert knowledge and knowhow in reinsurance claims.
Pusan Pacific has acted on behalf of domestic insurers (Donbu Insurance, Samsung Fire & Marine Insurance, Heunkguk Fire & Marine Insurance, Lotte Insurance, Green Fire & Marine), foreign insurers, (ING, AIA, Ace, New York, and P&I Clubs around the world), public insurance organizations (Korea Trade Insurance Corporation, National Federation of Fisheries Cooperatives, Korea Shipping Association, etc), and foreign and domestic reinsurers (Korea Re, Best Re, etc.).
Areas of Expertise
Representative Work
Areas of Expertise
- Insurance Disputes Disputes between insurers Disputes between insurers and reinsurers Analysis of insurance laws and regulations Financial Supervisory Service audits and sanctions Benefit redemption
- Reinsurance Treaty / Facultative Non-disclosure / Misrepresentation Coverage issues Follow the fortune, the settlement, and the action Error & Omission clause Back-to-back cover Limited Recourse Clause
- Other Insurance-related Disputes Analysis of insurance clauses Insurance claim lawsuits Insurance claim lawsuit defense Claim setoff lawsuits
Representative Work
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Pusan Pacific handles approximately 100 - 200 regular insurance claims per year
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Consultations on disputes between joint insurers arising from unsettled reinsurance claims
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Consultations and litigation for claims disputes between joint insurers
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Consultations on appropriate liability reserve amounts for insurance companies
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Consultations on appropriate rider reinsurance deposits
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Consultations on management provisions of law relation to insurance businesses
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Consulted and litigated reinsurance coverage issues between Heungkuk F&M and Eurasia (USD 175 mil)
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Consulted regarding reinsurance contract disputes between Heungkuk F&M and foreign reinsurance brokers
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Consulted regarding reinsurance claim cooperation clause disputes between Dongbu F&M and Lloyds
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Consulted regarding reinsurance contract disputes and LCIA arbitration between Island Capital and Meritz
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Arbitrated peril, misrepresentation, non-disclosure, and late placement disputes between Dongbu F&M and Lemma
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Litigation between Dongbu F&M and CLICO in Trinidad & Tobago regarding reinsurance coverage disputes
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Consulted regarding reinsurance cover disputes between Dongbu F&M and Munich Re
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Consulted and litigated reinsurance validity and insured events dispute between Best Re and Hanwha Ins
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Consulted regarding reinsurance disputes on validity of insurance and effect of reinsurance between Dongbu F&M and XL Insurance Company Limited
11th Floor, 99, Centum dong-ro, Haeundae-gu, Busan, Korea Tel : +82 51 244 9697 / Fax : +82 51 244 4484 / E - mail : mail@pusanlaw.com Copyright (c) 2014 Pusan Pacific Law Office. All Rights reserved.