Settling with a Korean Insurance Company: Car Accidents in Korea

Regrettably, many Korean insurance companies, in Korea, are less than generous in offering settlements to unrepresented parties in injuries sustained by car, trucks, taxis and trucks. The various Taxi Associations’ insurance coverages are, particularly, notorious.

The Korean insurance companies utilize an internal calculation method that leads to a settlement compensation amount that, often, are laughable at best with claim adjusters, at Korean insurance companies, are great at getting victims of motor vehicle accidents and other accidents, in Korea, to settle matters. Often, the claim adjusters will meet the accident victims in the hospital and use psychological tactics to encourage the accident victim to settle the matter for an amount much less than what would be obtained via a court judgment or negotiation with a Korean attorney.

For modest amounts of damages, an attorney in Korea may not be a cost that is justified, however, for any matter that has led to a loss of work, permanent injuries or time in the hospital it is, often, advisable to hire an attorney.

We, strongly, recommend not signing any document related to the accident prior to consulting with an attorney.  Many attorneys are happy to review your matter at no initial cost. IPG provides a no-cost consultation with an attorney. You can book your consultation with an attorney at: Book a Consultation with an Attorney.

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