• The Journal of the Korean life insurance medical association
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• v.27 no.2
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• pp.85-95
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• 2008

When an insurance company receives an application for life or health insurance, the company must evaluate the degree of risk the individual for insurance coverage presents before the company agrees to issue the policy. A medical factor is a physical or psychological characteristic that may increases a hazard. A financial factor is financial information that is taken into account by underwriter to determine if a person is applying for more than he/she reasonably needs or can afford. A personal factor is a lifestyle choice. There are several medical risk selection systems in Korean life insurance market. They are attending physician's statement, direct examination by insurance doctors, and paramedic examination. However there is some dissatisfaction of current system. It is possible that cooperation of part-time insurance doctors system may be one of useful system of medical risk selection. Improvement of medical risk selection system will be an important matter of profitability of insurance company and it will contribute to sound life insurance system.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.15
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• pp.119-136
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• 2001

The purpose of this paper is to consider how to decide the cause of loss or damage to the transport goods when maritime accident occurs. In marine insurance, the underwriter is liable for any loss or damage proximately caused by a risk insured(MIA Art.55). So it is very important to determine the proximate cause of loss or damage to ascertain whether it is to be recoverable under the policy. But there is no definite conception or rule what is the proximate cause. It was left to the tribunal as a question of fact. In this paper, I will suggest the general rules to determine the proximate cause of loss or damage of the transport goods in marine insurance. First, in MIA 1906, there is the rule of proximate causation and it has been established the effective causation by cases since 1918. Second, in Institute Cargo Clauses(B) & (C), there are rules of considerably relaxed standards to determine the causation of loss of or damage using the "attributable to" and "caused by" basis. Third, it is noted, under the complex causation situation, there are difference basises to decide the liability of underwriters between the case of successive occurrence of single risk and the case of concurrent occurrence of several risks. Forth, in practice, it couldn't be ascertained the underwrier's liability by a definite rule and it should be fully considered the circumstances and conditions of the loss.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.59
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• pp.113-135
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• 2013

Piracy has been an ongoing and serious problem in international shipping industry. Somalia is often in the news these days. Somalia has been in a state of unrest for more than two centuries. In recent times, the situation has remained unstable. The persistent unrest is the major driver behind the piracy epidemic in Somalia waters. By the MIA 1906, s.78(1), the expenses in order to be recoverable must have been "properly incurred". The underwriter is also liable in certain circumstances for expenses incurred by the assured in an attempt to avert or diminish loss covered by the policy, under provisions. This class of expenditure is commonly referred to as sue and labour expenses, or suing and labouring expenses; less commonly, as particular charges. The standard marine policy(the S.G.Form) contained what was invariably called the sue and labour clause, which has been replaced in the current Institute Clauses by the "Duty of Assured(Sue and Labour)" Clause in the Hull Clauses, and the "Duty of Assured" Clause, headed "Minimizing losses", in the Cargo Clauses. Sue and labour charges are not confined to expenditure on the part of the assured and his agents, but can include quantified loss consequent upon a sacrifice properly and reasonably made to avert or minimize an insured loss.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.47
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• pp.337-353
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• 2010

On payment of the insurance money the insurer is entitled to be subrogated to all right and remedies of the assured in respect of the interest insured in so far as he has indemnified the insured. The purpose of subrogation is to prevent the assured from recovering more than once for the same loss, e.g. where goods are lost owing to a collision, the assured cannot claim the insurance money from the insurer and then sue the owners of the ship that negligently caused the collision. Under the doctrine of subrogation the right to sue owners of the negligent ship passes from the assured to the insurer on payment of the insurance money. The insurer is subrogated to the assured 'rights against the carrier under the contract of carriage. To defeat the cargo underwriters' subrogation righters, the carriers inserted in their B/L a clause allowing the carriers to have the "benefit of the shipper's insurance. But, in the Hague Rules, Hamburg Rules, Rotterdam Rules, its makes void any clause that assigns a benefit of insurance of the goods in favour of the carrier. In practice the insurer asks the assured to sign a letter of subrogation and retains the documents in order to prosecute the rights subrogated to him.

• Journal of Korean Academy of Nursing Administration
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• v.9 no.4
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• pp.615-624
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• 2003

Purpose: The purpose of this study was to find out the role conflict and ways of copying of nurses as underwriters worked at life insurance companies in Korea. Method: The subjects were 141 underwriters who were working at 4 major life insurance companies in Korea. For finding the role conflicts, Role conflict and Ambiguity scale developed by Rizzo, House & Lirtzman(1970) was used, For the ways of coping, Ways of coping scale developed by Lazarus et al. (1984) was used. The statistical method used were mean, percentage, t-test, ANOVA and Turkey test by SAS program. Result: The mean of role conflict was 2.76, and its subcategories were intersender conflict 2.95, sequential order interrole conflict 3.13, interarole conflict 2.69, organizational conflict 2.69, ambiguity from the outcome or responses to one's behavior 2.60, ambiguity from clarity of behavior requirements 2.61. The mean of ways of coping was 2.42 and its subcategories were problem focused 2.42, wishful thinking 2.26, detachment 2.09, seeking social support 2.49, focusing positive 2.72, tension reduction 2.08. There is statistically significant difference between single and married person i.e, single was high than married about role conflict. And also there is statistically significant difference among religion groups i.e., christian was high than none about ways of copying. Conclusion: The results of this study suggest that nurses as underwriters' role conflicts and ways of coping were different that of clinical nurses' and examining medical insurance nurses', Therefore it need more detail repeat studies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2007.12a
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• pp.117-118
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• 2007

This paper was provided to apply the ITC-Hulls Clauses & ISM Code for the accident of sunken ship which was occurred by seamen's barratry. For the causes of the sunken accident, the underwriter insisted that shipowner submerged the vessel intentionally for the purpose of the insured amounts, while shipowner protests that the ship was submerged because of crews faults. In this connection, the judge sentenced that this accident was caused by humans errors as the Provisions of 6.2.4 of ITC-Hulls, however shipowner is responsible for hiring onboard qualified seafarers and carrying out the due diligence for performing ISM Code for ensuring ship's safety and seaworthiness.

• Journal of Navigation and Port Research
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• v.32 no.3
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• pp.229-235
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• 2008

This paper was provided to apply the ITC-Hulls Clauses & ISM Code for the accident of sunken ship which was occurred by seamen's barratry. For the causes of the sunken accident, the underwriter insisted toot shipowner submerged the vessel intentionally for the purpose of the insured amounts, while shipowner protests toot the ship was submerged because of crews faults. In this connection, the judge sentenced toot this accident was caused by humans errors as the Provisions of 6.2.4 of ITC-Hulls, however shipowner is responsible for hiring onboard qualified seafarers and carrying out the due diligence for performing ISM Code for ensuring ship's safety and seaworthiness.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.1
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• pp.156-163
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• 2012

The price stabilization policies which require the underwriters to maintain post-IPO prices at some level (stabilization duty) or give put-back options to investors, have survived for eight years until June, 2006. The purpose of this study is to analyze the effect of price stabilization policies upon IPO underpricing in KOSDAQ. The study decomposes the influence of the price stabilization policies on IPO underpricing into ex-ante and ex-post effect. The price stabilization policies have shown to increase the IPO underpricing both at ex-ante and ex post bases. And the ex-ante effect is greater than ex-post effect. Among policies, the price stabilization duty magnifies the underpricing more than put-back option. This study differentiate from the precedented studies by including the whole period in which those policies are in act and by decomposing the IPO underpricing effects into ex-ante and ex-post bases.

• Journal of Korea Port Economic Association
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• v.22 no.3
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• pp.23-41
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• 2006

The objective of this study is to discuss damage to cargo caused by shipper's Liability. an analysis of the excepted perils of the carriers and the scope of marine insurance coverage reveals that the excepted perils of the carrier are covered by the most part by marine insurance. however damage to cargo caused by shipper's fault remains uncovered. Damage to cargo by insufficient packing is caused by the cargo owner's error or negligence, thus both the underwriter and the marine carrier are exmpted from responsibility. but a problem aries from the fact that there is no objective standard for full packaging. In order to solve these problems, it is required to specify the method of packaging for certain goods when making an individual agreement, so that the owner can be exmpted from responsibility for packaging conformed to the pertinent article.

• The Korean Journal of Applied Statistics
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• v.36 no.6
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• pp.591-618
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• 2023

This paper evaluates the performance of various distribution assumptions in regression settings for estimating insurance loss. The gamma distribution is commonly used to handle the asymmetry property of loss distribution. However, recent studies highlight the significance of heavy-tailedness in loss distribution. Through an analysis of real home fire insurance data, we compare the effectiveness of different distribution assumptions in regression methods. Our findings show that the choice of parametric distributional assumption is crucial in determining premiums for various insurance products, including "excess of loss insurance" and "limit insurance". Additionally, we discuss practical considerations for applying our results in home fire insurance.