DB Insurance Selected as Lead Insurer for SME "Technology Dispute" Litigation Insurance

In Partnership with the Ministry of SMEs and Startups and the Korea Commission for Corporate Partnership
Leading the Protection of SME Technology

DB Insurance announced on April 27 that it has been selected as the lead insurer for the "SME Technology Dispute Litigation Insurance," an insurance program supervised by the Ministry of SMEs and Startups and operated by the Korea Commission for Corporate Partnership.

The "SME Technology Dispute Litigation Insurance," which was previously known as the "SME Technology Protection Policy Insurance" and renamed this year, is designed to compensate for legal costs such as attorney and patent attorney fees when an SME faces legal disputes related to technology. For domestic insurance, the government subsidizes 70–80% of the premium, while for overseas insurance, 80% of the premium is supported. The maximum coverage is KRW 50 million per coverage item for domestic insurance and up to KRW 100 million for overseas insurance.

This year, the system underwent a major overhaul. In addition to patents, designs, utility models, and deposited technologies, trademark rights have been added, expanding the number of insurable intellectual property categories from three to five. Furthermore, the previously mandatory coverage for defense litigation (responding to lawsuits as a defendant) has been changed to an optional enrollment, reducing premium burdens for SMEs. A new support for patent trial costs at the pre-litigation stage has also been introduced.

A representative from DB Insurance stated, "DB Insurance will continue to collaborate in various ways to establish a support system for protecting SMEs' technology as promoted by the government, and we will make ongoing efforts to provide a diverse range of insurance products to protect SME technologies."

The insurance program can be found on the website of the Korea Commission for Corporate Partnership, the implementing agency, or on the "SME Technology Protection Fence" website operated by the Ministry of SMEs and Startups.

This content was produced with the assistance of AI translation services.