26th Jun 2012 07:00
Renewal of Insurance Policy
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On June 25, 2012, the BOD of Samsung Electronics approved the renewal of the existing
umbrella liability insurance policy purchased from Samsung Fire & Marine Insurance.
- Insurance premium: USD 8.3 million (June 13, 2012~August 1, 2013)
- The umbrella liability insurance covers the liability of Samsung Electronics and some
of its overseas subsidiaries for losses or injuries to global consumers caused by
Samsung Electronics' home appliance products sold in North America.
※ This disclosure is in accordance with the Korean Fair Trade Act, which mandates a
purchaser of insurance policy to disclose the transaction in case the transaction is
worth more than KRW 5billion and the insurance company involved is the
purchaser's financial affiliate.
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