• The Journal of the Korean life insurance medical association
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• v.3 no.1
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• pp.55-61
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• 1986

In life insurance the goal of medical examination is to exclude medical, environmental adverse-selection to the utmost. And keeping the principle of equity and the homogeneity of risk in the group of the insured, you are able to manage the company reasonably and realize the orginal ideal of life insurance, namely, the mutual assistance. And yet, the cases of the misrepresentation have been occurred frequently so far. As a result of them, the development of life insurance industry has been obstructed, and public criticism has been caused. Carrying medical examination, you have to know how the representation is important, And citing what the misrepresentation and false representation influenced the results, I want you to refer to medical exam-business.

• Management & Information Systems Review
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• v.3
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• pp.77-97
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• 1999

The purpose of this paper is to measure the international competitiveness of insurance business and to analyze its determinants empirically. I have attempted to use Revealed Comparative Advantage(RCA) index to measure domestic competitiveness. confining to OECD countries only. Among domestic competitiveness advantage countries in the insurance, there are Austria, Denmark, France. Japan, Korea... etc. The factors of domestic competitiveness determinants were found out through multivariate regression analysis with panel data$(1990{\sim}1995)$. In insurance industry, statistically significant variables are employee's per capita premium of insurance company (Pro), stock market capitalization/GDP(MVESR), saving rate (SAV) and real interest(RMMR), while they are Pro, MVESR, and real interest in Korea insurance industry.

• The Journal of Industrial Distribution & Business
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• v.12 no.11
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• pp.33-50
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• 2021

Purpose: In South Korea, two kinds of mandatory insurance, Fierce Liability Insurance and Outdoor Advertising Liability Insurance sells as of February 2021 according to relevant codes. This study analyzed third party liability and personal living liability insurance in terms of various risks not corporation side but personal side arising from normal living and life. Research design, data and methodology: Some cases of drone accident hit man and fierce dog accident were taken into analysis to verify blame ratio and insurance claim money. The former case is that on the way down the elevator, the dog, American pit bull terrier rushed in and bit the lower part of the knee against the visitor. The latter case is that while flying in the sky as usual, the drone suddenly crashed, fell, and hit the head of a young child while walking on the street. Further previous studies such as third party liabilities, liability insurance, mandatory insurance were deeply analyzed. Results: Based on some case studies and previous studies, the author suggested valuable comments in turn realization of insurer as provider, exhaustive creation and operation of mandatory insurance, realization of insured as demanded, and arrangements of laws and systems in special consideration of amendment of companion animal and exhaustive execution of mandatory insurance by the government. Conclusions: This study was about third party liability, personal living liability insurance and expansion of mandatory insurance caused by relevant laws by the government. In this study the author verified what issues were observed from two cases drone accident and fierce dog accident and then suggested some valuable comment as above both systemic plans and practical plans. First of all, the individual should get Comprehensive Property Insurance(CPI) that covers the risks of his/her own property arising from the everyday life. And then the individual should further buy Personal Living Liability Insurance(PLLI) in order to prepare 'accidents that may happen when, where, or how' and overcome the said accidents. Moreover, the individual should take a look every single insurance contract whether he/she has a special terms and conditions of Personal Living Liability Insurance(PLLI) or not.

• Journal of applied mathematics & informatics
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• v.32 no.3_4
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• pp.343-357
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• 2014

In many non-life insurance applications past data are given in a form known as the run-off triangle. Smoothing such data using parametric crisp regression models has long served as the basis of estimating future claim amounts and the reserves set aside to protect the insurer from future losses. In this article a fuzzy counterpart of the Hoerl curve, a well-known claim reserving regression model, is proposed to analyze the past claim data and to determine the reserves. The fuzzy Hoerl curve is more flexible and general than the one considered in the previous fuzzy literature in that it includes a categorical variable with multiple explanatory variables, which requires the development of the fuzzy analysis of covariance, or fuzzy ANCOVA. Using an actual insurance run-off claim data we show that the suggested fuzzy Hoerl curve based on the fuzzy ANCOVA gives reasonable claim reserves without stringent assumptions needed for the traditional regression approach in claim reserving.

• Information Systems Review
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• v.5 no.1
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• pp.49-60
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• 2003

The purpose of this study is to empirically and practically verify the applicability of visualization data mining tool in detecting real-word insurance frauds that are now emerged as one of the most serious problems socially and economically. For the verification, Analyst's Notebook by i2, which has been known as the most effective visualization data mining tool, was adopted. With Analyst's Notebook, fraud-probable insurance transactions from a very large insurance claims are selected and then substantiation for insurance frauds are attempted. The results show that Analyst's Notebook not only detects insurance fraud transactions from a vast number of insurance claims, but is also able to pinpoint organized crime group by associating one fraud transaction to another fraud transaction. Therefore, it is safe to conclude that visualization data mining is very effective in detecting false transactions and crime behaviors including insurance fraud.

• Journal of Wellbeing Management and Applied Psychology
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• v.2 no.2
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• pp.1-11
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• 2019

This study empirically examined the effect of female director on tax aggressiveness of listed insurance firms in Nigeria. The main objective of this research was to empirically investigate the effect of female board members on tax aggressiveness, determine the composition and representation of female directors on the board of insurance companies, find out how tax aggressive are listed insurance firms and apply the BLAU (1977) index method to measure female director representation as a departure from conventional approaches specifically in the Nigerian context in the reference period, 2014 to 2018. The population of the study consists of all the quoted insurance firms as at 31st December, 2016. A sample of twenty eight (28) quoted insurance firms was selected and data were collected over the period. Inferential statistic consisting of the General Method of Moment was used for the data analysis. The results obtained reveal that board size is negative and exerts significant impact on tax aggressiveness in insurance firms in Nigeria. The study therefore recommends that the Federal government has to come up with a policy to respond to the marginalization of female on the insurance firm corporate board in Nigeria. The aim of this policy thrust should be targeted at reducing politics and biasness against women on the corporate boards of listed insurance firms.

• The Journal of Industrial Distribution & Business
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• v.8 no.6
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• pp.25-31
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• 2017

Purpose - This study examines car accidents that occurred in South Korea territory, and analyzes criminal liability of the offender and certain issues of driver's insurance, but a civil liability to the injured is excluded as civil liability belongs to auto insurance. Research design, data, and methodology - With carrying out this research, case study of driver's liability and literature review were adopted throughout. For this, car accidents that occurred in South Korean territory were examined and then criminal liability of the offender and certain issues of driver's insurance were analyzed. Results - From this case study on driver's liability it was found that the offender cannot receive insurance money from the insurer irrespective of the valid drive insurance, if there is no 'bill of agreement of criminal consensus'. This study suggests some ideas, offers suggestions of convenience and assistance of qualified claim staff to overcome a hurdle of drive insurance. Conclusions - As long as the accident is not a fraud and scam by the parties concerned, advance payment of agreement of criminal consensus is required to the insured, the policy holder within the limit of liability of driver insurance, on condition that the drive insurance is valid.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.27 no.5
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• pp.1233-1245
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• 2017

Cyber risk is rapidly increasing due to the hyperconnectivity of the IoT in the intelligent information society. Therefore cyber insurance has been attracting attention as a new risk management countermeasure by transferring cyber risk. However, cyber insurance is still a new concept in South Korea. The purpose of this study is to propose the concept of cyber insurance suitable for domestic demand by deriving the priority of cyber insurance coverage. Research results suggest that the most requisite cyber insurance types are business interruption and liability.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.5 no.5
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• pp.466-470
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• 2004

The purpose of the study is to propose the way to activate title insurance in Korea. Title insurance in Korea is at first stage in development cycle. Companies which handle title insurance mainly operate in the services related to real estate. Recently in Korea, Mortgage loan is introduced in market. Mortgage loans may give a new motive in title insurance market. In Korea, registration record in real estate does not prove real ownership and this point can make title insurance spread widely in property transaction. Title insurance offers financial protection against these and other covered title hazards. There are two basic kinds of title insurance: Lender or mortgagee protection, owner's coverage. For the prosperity of title insurance, We should decrease a financial fee, business cost and prepare a on-stop service in a real estate brokerage.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.257-281
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• 2011

The duty of utmost good faith is found in sections 17-20 of MIA 1906. Critics of the current legal regime on the pre-contractual duty from the viewpoint of the assured, have been concentrated on two points in particular. First, the scope of the duty is so wide that it imposes too high burden on the assured. The second criticism is directed at the remedy, prescribed by the MIA 1906, s.17, against breach of the duty. This article intends to analyse the legal implications of proposals in CP 2007 for reforming pre-contractual duty of utmost good faith of business assured in English insurance contracts law and the problems of proposals. The Law Commissions are proposing four fundamental changes to meet the long-standing criticism and the results of analysis are as following. First, the Law Commissions are proposing a change in the test of constructive knowledge in relation to the duty of disclosure so that a business assured will be obliged to disclose facts which he knows or a reasonable ought to know in the circumstances. Secondly, deviating from the current legal position, the Law Commissions are proposing that if a business assured has made a misrepresentation, but the assured honestly and reasonably believe what it said to be true, the insurer should not have any remedy due to the misrepresentation. The proposal is designed to protect the reasonable expectations of business assured at the pre-contractual stage. Thirdly, the Law Commissions are proposing to change the test for materiality by replacing the "prudent insurer" test by a "reasonable assured" test. The proposed test would focus on the question of what a reasonable assured in the circumstances would think what is relevant to the judgment of the insurer. Finally, the Law Commissions are proposing flexible remedies in case of the breach of the duty. The Law Commissions are proposing no remedy when an assured is acting honestly and reasonably, while avoidance in case of dishonesty. On the other hand, The Law Commissions seem to have an intention to introduce a compensatory remedy in case of negligent breach of the duty.