• 한국항해항만학회지
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• 제26권1호
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• pp.66-77
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• 2002

Generally hull insurance is undertaken by mean of a contract of hull insurance. A contract of hul1 insurance here is a contract whereby the insurer undertakes to indemnify the assured against the loss and damage to the vessel mused by maritime perils. A contract of hull insurance is consists of printed main insurance clauses and a clause includes many sub-clauses. Now the Institute Time Clauses-Hulls (hereunder refer to as "English hull insurance clauses"made by the Institute of London Underwriters is much used as the standard from or basic from by many countries ail over the world Now Korean insurance companies hue not made our their own hull insurance clauses, they have just adopted the made-out English hull insurance clauses and the english law and practice to solve the problem related to marine insurance. On the other hand, the United States of America and Japan have made out their own hull insurance clauses based on English hull insurance clauses and used the clauses for many years. Now American is using American Institute Hull Clauses(hereunder refer to as "American hul1 insurance clauses"as its own clauses which was made out by American Institute of Marine Underwriters in 1977 and Japan is also wing its own clauses named Japanese Hull Standard Clauses(hereunder refer to as "Japanese hull clauses") which was made out by japanese Hull Insurance Association in 1990. Therefore the purpose of this study is not only to make a comparative study on English hull insurance clauses 1995, American hull insurance clauses 1977 and Japanese hull clauses l990, but also to supply on some legal materials necessary for Korea to establish and perform our own hull insurance clauses.

• 한국항해학회지
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• 제25권4호
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• pp.487-512
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• 2001

In 1986, the People's Insurance Company of China(hereinafter called PICC) Hull Insurance Clauses, which were amended on the basis of the version 1972, were put into effect. Since PICC is the biggest state-owned insurance company in China, its hull insurance clauses have been used nationwide. In the clauses are included the following contents： scope of cover, exclusions, period of insurance, automatical termination of insurance, duty of assured, claim and indemnity, treatment of disputes and so on. However, this study is only limited to the legal interpretation of the most important clauses relating to indemnity of the insurer. The writers attempt to supply some basic materials necessary for the establishment and enforcement of the Korean hull insurance clauses.

• 무역상무연구
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• 제47권
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• pp.319-335
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• 2010

The purpose of this study is to make clean the scope of insurer`s liability through theoretical interpretation and to understand some problems of various excluded risks in law and clauses relating to marine cargo insurance. This study suggest the problems related with the interpretation of the excluded risks in law and clauses. Through continued study on the excluded risks in law and clauses, we should make a system which will satisfy the assured in making the insurance contract.

• 무역상무연구
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• 제43권
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• pp.337-370
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• 2009

The Joint Cargo Committee of International Underwriting Association of London (IUA) and Lloyd’s Market Association (LMA) have issued the revised version of Institute Cargo Clauses A, B, C, Institute Cargo Clauses (Air) and their accompanying War and Strikes Clauses. The Institute Cargo Clauses ("ICC") were last revised in 1982. Following a two year long consultation process, the latest edition of the ICC clauses became available to the Market on 1st January 2009. The overall result of the amendments to the 1982 ICC has been to create clearer policies that are more favourable to the Assured. Exclusions have also been amended to the advantage of the assured. The Transit Clause has seen a large revision, again more favourable to the Assured. The insurance now attaches within the warehouse or place of storage when the goods are "first moved$\cdots$ for the purpose of the immediate loading into or onto the carrying vehicle or other conveyance for the commencement of transit" whereas previously the insurance would not attach until the goods left the warehouse. Furthermore, the insurance now terminates on completion of unloading from the vessel at (rather than delivery to) the final warehouse or at a warehouse prior to the destination named in the contract of insurance which the Assured or their employees elect to use either for storage or distribution.

• 무역상무연구
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• 제46권
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• pp.211-235
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• 2010

According to the commercial law in Korea, a marine cargo insurance contractor (policyholder, insured person, agent) has the duty to disclose risks before establishing an insurance contract and the obligation to notify changes in risks after before establishing the contract. Marine cargo insurance policy clauses include one about the obligation to notify changes in risks. This clause assumes that an insurance contract should be implemented according to what has been answered to the important questions asked by the insurer in connection with the insurant's duty to disclose before establishing an insurance contract, and it stipulates that, if any change in what has been disclosed should be notified to the insurer since it is regarded as a change in risks. Neglecting the obligation to notify may lead to the termination of the appropriate insurance contract by the insurer. The problems here concern the clauses about changes in risks and about the obligation to notify. The problems are like these. Can it be that the circumstances which might be seen in the past as changes in risks according to the territorial sea laws and institute cargo clauses stipulated long ago are considered as such still today? And a marine cargo insurance policy till valid when changes in risks have not been properly notified by the original discloser of risks to the insured who currently holds the marine cargo insurance policy, which, unlike other insurance policies, is a marketable security? In Korea, the commercial law has a clause the obligation to notify changes in risks established based on the territorial sea laws and institute cargo clauses. In this regard, this study aims to consider if the clause still valid today or not and, if not, to propose alternatives to the clauses.

• 한국항해학회지
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• 제15권3호
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• pp.53-72
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• 1991

The marine cargo insurance compensates the cargo losses that happened during navigation . at the early days of the marine insurance, the insurer inclusively covered all risks that happended during navigation. But since the feature of the risks have been changed due to the development of the shipbuilding technique and commerce, the insurer could not bear all of the perils inclusively. So, the insurer have taken the limitation of the risks insured and the losses paid by exclusion clauses. Therefore, the purpose ;of this paper is to compare the exclusion clauses in the new Institute Cargo Clause (hereafter I.C.C.) with those in the former I.C.C.(all risks, F.P.A) and to make clear the scope of insurer's liability through the theoretical interpretation, clarification of various excluded risks in laws and clauses relating to marine cargo insurance. From what 1 mentioned above, 1 conclude that through continued study on the exclusion sin the new I.C.C., we should organize and establish a system which will satisfy both underwriters and the assured in making the application and the effectiveness equal for each party.

• Asia pacific journal of information systems
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• 제31권4호
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• pp.527-542
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• 2021

The government-driven open data policies are on the rise to protect consumers from misunderstandings and monitor the companies. However, in contract-based industries such as insurance, the contract-inherent characteristics make information asymmetry between consumers and companies. Our paper focuses on insurance contracts where the contingency has high uncertainty of occurrence, and the clauses may incur high costs of reading. Given those contracts, we hypothesized that the contract's clear statement decreases customer dissatisfaction and lowers the number of complaints. To empirically support the claim, we collected customers' complaint documents of insurance companies and insurance contracts from 2005 until 2017. Our econometric models showed that clearer statements and words significantly reduce the complaints after controlling for firm-specific heterogeneity and time-specific heterogeneity. We identify that insurance companies' complaint ratio significantly differ depending on the insurance contract, including specific clauses and words.

• 무역상무연구
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• 제65권
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• pp.71-94
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• 2015

The insurer's right to take legal proceedings in the name of the assured against a third party who has caused loss of or damage to the goods is of particular importance in marine cargo insurance under international trade transaction. The amounts recovered in subrogation actions, known in practice simply as recoveries, form a significant element in the balancing of the cargo insurer's underwriting account by improving ing the loss record. However, even if the carrier involved in the accident have a liability for damages, in some cases can not claim damages in accordance with the after clauses and carrier's exemption clauses indemnity carrier under the contract of carriage. In recent, the dispute cases to argue damages claim of the carrier in connection with business practices of surrender B/L, the claim is dismissed cases in accordance with the Arbitration Rules of the after clauses. In the future, the surrender B/L is continually to use as a marine transport method, it may also be interested in insurance subrogation of damages claims to insurance accident by a surrender B/L.

• 보험의학회지
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• 제28권1_2호
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• pp.7-10
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• 2009

• 무역상무연구
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• 제21권
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• pp.41-54
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• 2003

The MIA 1906 is a very important rule for the practitioner in Korea since it is often selected as the governing law under the contract of cargo insurance. And we are using both the S.G policy and the new MAR policy. The new MAR policy has the basically different form of cover compared with the S.G policy. So we are a little confused whether some risks are covered or not under the selected clauses. The author considers which risks are covered or not under the specific clauses and compares the Institute cargo clauses with the MIA 1906.