• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.185-202
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• 2009

With the rapid development of oil and chemical industry in the late 20C, massive transportation of oil by oil tanker vessel has grown and it caused the big oil pollution accidents. When oil spill from the oil tanker, damages reach into the astronomical figures in economically and damages affect wide area and many people with break the balance of ecosystem. Recently in Korea, the oil pollution accidents has occurred frequently as growing of oil consumption and it caused large-scale damages to the victim. Oil pollution in Korea offshore takes not only Korean fisherman from their life ground and break the ecosystem but it takes too much time and money to recover. To minimize oil pollution damages, it is necessary to make pre-caution effort as a ship owner and relevant government bodies should endeavor to prevent from more damages. But once oil pollution accidents occurs in territorial sea, compensation for victim is very important. But it is true that compensation is not paid to victim smoothly. So this study aims at the problems of oil pollution compensation to the Korean victim and find the best way to get reasonable compensation.

• The Journal of the Korean life insurance medical association
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• v.26
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• pp.31-39
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• 2007

Background and main issue: In the Korean insurance market, an outstanding issue is the decrease of margin of risk ratio. This affects the solvency and profitability of insurance companies. Insurance medicine, which has been developed in Western countries, is so-called medical risk selection or medical underwriting. Medical risk selection is based on clinical follow-up study and mortality analysis methodology. Unfortunately, there have been few clinical follow-up studies, and no intercompany disease analysis system is available in the Korean insurance market. In practice, we use underwriting guidelines, which were developed by some global reinsurance companies. However, these guidelines were developed under clinical follow-up studies performed abroad. So, we cannot rule out underestimation of excess mortality factors such as mortality ratio, excess death rate, and life expectancy. It is necessary to perform medical assessment in claims administration. Comparing the insured's statement by medical records with products' benefit according to this procedure, we can make sound claim decisions and participate in the role of sound underwriting. We can call this scientific procedure as the verification of medical claims review. Another area of medical claims review is medical counsel for claims staff. Result: There is another insurance medicine in addition to medical risk selection. Independent medical assessment by medical records of insured is medical claims review. Medical claims review is composed of verification and counsel.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.213-228
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• 2022

This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

• The Korean Journal of Applied Statistics
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• v.21 no.5
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• pp.717-726
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• 2008

The purpose of this paper is to assess the financial strength of general insurers by using A.M. Best's rating technique focusing on quantitative standards. A quantitative evaluation of fifteen larger general insurers' financial strength and operating performance relative to the Best's top group is carried out. The quantitative evaluation is done in 5 key areas; growth, efficiency, profitability, safety and liquidity. The results show that there is a big gap between domestic large insurers and American insures in all areas except stable growth of operations. Therefore, domestic insurers have to strive to strengthen financial soundness through profitability and should increase the capacity to retain more commercial business and reinsurance in order to become global players.

• The Journal of the Korean life insurance medical association
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• v.25
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• pp.63-77
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• 2006

The definition of 'critical cancer' in critical insurance(CI) is more insurance meanings than medical meanings. The difference between critical cancer of insurance and critical cancer of medical cancer is made difficult problem to the underwriting of insurer, contractor and medical doctor. The limited factors of underwriting in critical cancer of critical insurance as follows: (1) the limitation factors in the definition of 1st item critical cancer in CI 1) the definition differences of meanings in insurer, contractor, and medical doctor 2) the meanings of "the table of malignance" 3) the definition difference between 'critical cancer' and 'a large of medical expense cancer' (2) the limitation factors in the definition of second item critical cancer in CI 1) The limitation in the change of cancer character 2) The missing malignancy in pathological result due to localized cancer 3) The differences in the test result of hospital (3) the limitation factors in the definition of third item critical cancer in CI. 1) the lower items disobey the higher items 2) clinical malignancy of benign cancer pathologically 3) others: (1) low grade of malignant melanoma (2) early prostate cancer. (3) malignancy related HIV (4) all skin cancer excepted malignant melanoma (5) accepted clinically and a medical certificate by medical doctor as critical cancer of premalignant lesion, carcinoma-in-situ, and borderline cancer.

• The Journal of the Korean life insurance medical association
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• v.12
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• pp.50-55
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• 1993

After a short historical resume, screening is discussed on the basis of the current philosophy of Life insurance compaines in leading countries. This is followed by considerations with regard to the future in areas of major bearing on Life insurance screening which have emerged as important within the last decade. HIV-antibody testing is dealt with from the screening point of view followed by aspects regarding the applicability of tumour marker use in Life insurance medicine. Last but not least genetic testing will be addressed, taking into account prospects for the future, as well as the resulting responsibility in medical and underwriting terms. The major considerations and suggested guidelines can be summarized as follows: 1) Screening in Life insurance is a prerequisite for underwriting and is a well-functioning selection instrument. 2) Screening technologies are medically well defined and have to follow general clinical rules, also in the future. 3) Screening parameters should follow the patterns of diseases according to age and risk groups. 4) Screening parameters for prognostic use are legitimate as long as they are considered in conjuction with clinical medical observations and rules. 5) Screening technologies of a sensitive nature require very special rules for handling in the sense of "consequential ethies". 6) Screening parameters like HIV-antibody testing require ongoing scientific feedback in their new testing dimensions. 7) Screening in the form of genetic testing is as yet not used in Life insurance; its potential future role in Life insurfance medicine must, however, be discussed responsibly and in time. 8) Screening enables the insurance industry to rule out possible antiselection and provide for equal knowledge on the part of the insurance applicant and the insurer about impairements which shorten life expectancy. 9) Screening, informed consent, counselling and confidentiality must go hand in hand both now and to an even greater extent in the future.