Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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A Case Study on the Warranty in Marine Insurance under the Insurance Act 2015 in the UK -The Case of Korea and China-

영국 2015년 보험법의 해상보험 담보특약 제도에 대한 연구 -한국과 중국의 판례를 중심으로-

  • Tae-Kun Ahn (Division of International Commerce, Pukyong National University) ;
  • Sung-Ryong Kim (College of Economics & Business Administration, Kyungpook National University) ;
  • Seung-Eun Lee (Graduate School of International Trade, Kyungpook National University)
  • 안태건 (부경대학교 국제통상학부) ;
  • 김성룡 (경북대학교 경상대학 ) ;
  • 이승은 (경북대학교 무역학과 )
  • Received : 2020.06.04
  • Accepted : 2020.06.28
  • Published : 2020.06.30
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Abstract

In the UK's the insurance law 2015, a remedy for breach of warranty in marine insurance was introduced. Also, if the insured proves that breach of warranty in marine insurance does not affect damages, the insurer pays the insurance money to the insured. The UK's marine insurance law has served as the governing law that has been the standard for the marine insurance industry for a long time. Korea and China were heavily influenced by the UK maritime insurance law. Therefore, this study analyzed the cases of breach of warranty in marine insurance in Korea and China. Through this, the insurer avoid the insurance contract for an accident that occurred after the breach of warranty. this result will be different under the new revised insurance law system. With the revision to The Insurance Act 2015, one of the biggest change in the insurance system is that it is possible to remedy of the violations of warranty. However, such a revision of the law requires considerable attention as it also changes the interpretation and judgment of the courts. Accordingly, a practical response of the insurance industry is required. It is necessary to prepare for possible disputes in practice.

Keywords

References

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