KB Insurance Launches Industry-First 'Shared Kitchen Exclusive Comprehensive Liability Insurance'

Comprehensive Legal Liability Coverage for Third Parties of Shared Kitchen Self-Employed Entrepreneurs

[Asia Economy Reporter Ki Ha-young] KB Insurance announced on the 2nd that it has launched the industry's first "Comprehensive Liability Insurance Exclusively for Shared Kitchen Self-Employed" in collaboration with ㈜Widaehan Sangsa, the operator of the shared kitchen matching platform 'Nanuda Kitchen'.

This insurance was launched through a collaboration among KB Insurance, ㈜Widaehan Sangsa, and KB Financial Group in response to the growing need for risk protection measures for food service entrepreneurs who operate stores only during specific time slots by sharing storefronts.

Previously, KB Financial Group and ㈜Widaehan Sangsa signed a business agreement in June last year to establish a win-win ecosystem for self-employed food service entrepreneurs and shared store startups.

With the launch of this product, shared kitchen entrepreneurs who started their business through 'Nanuda Kitchen' can now receive stable protection in case of liability to third parties related to the operation of the shared kitchen. For example, if a customer is injured due to the negligence of the shared kitchen operator during a shared kitchen business where a pub is shared and operated as a restaurant during lunchtime, the liability for compensation can be covered.

KB Insurance plans to realize the value of coexistence by spreading innovative finance for food service industry entrepreneurs in line with KB Financial Group's ESG (Environmental, Social, Governance) management policy through the launch of this product.

Nam Sang-jun, Head of Corporate Sales Division at KB Insurance (Executive Director), said, "This product was launched to support food service entrepreneurs at a time when the food service industry has been struggling due to the recent spread of COVID-19," adding, "Going forward, KB Insurance and KB Financial Group will continue to develop collaboration models with startup companies, including infrastructure support and customized product launches."