• Korea Trade Review
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• v.45 no.3
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• pp.133-146
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• 2020

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.

• Journal of the Korean Institute of Navigation
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• v.7 no.1
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• pp.83-103
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• 1983

The duty of disclosure it is a preliminary requirement to effect marine insurance contract between the assured and the underwriter. The contract of Marine Insurance is called a uberrimae fidei contract, the assured, therefore, in the law of marine insurance, shall communicate a material circumstances to the latter before the policy to be effected. As growing the maritime industries in Korea, there is forming a larger marine insurance market, accordingly, and having a wide relation with the practice of the marine insurance in England. It means that the most of the legal theories of the marine insurance would be adopted by the English Marine Insurance Case Law and M.I.A., 1906. From the viewpoint of the said this author has tried out to study what is the duty of disclosure of the marine insurance based upon the English Marine Case Law.

• International Commerce and Information Review
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• v.9 no.1
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• pp.169-186
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• 2007

The purpose of this study analyzes laying stress on Japan example that background of electronic issue of international meritime insurance policy is what, and is marched in some degree present. and this study presented what hereafter subject of electronic insurance plice is. The this paper is to study the current situations of trade financial EDI in Japan and problems in application of marine insurance contracts. The subject of electronic marine policy issue is as following in trade financing EDI. (1) application of electronic document in claim demand. (2) standardization of various documents and insurance plice data. (3) insurance compensation document that become Jeonjahwa in insurance accident settlement. (4) maritime Insurance policy agreement's establishment. (5) when is monopolized to third party, realization of electronic maritime insurance policy offer.

• Korea Trade Review
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• v.47 no.3
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• pp.191-209
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• 2022

Whether or not insurance policies are securities has been debated for nearly a century. The position of claiming that an insurance policy has securities properties is premised on the concomitant nature of the maritime cargo insurance policy to the bill of lading. However, in reality today, marine cargo insurance policies are transferred between parties involved in international trade as an integral part of the bill of lading, and the two securities go through the same distribution process. The issue of recognizing the securities properties of an insurance policy is particularly debated when the insurance policy is issued in a order or bearer form. In a normal insurance policy, the name of the right holder, such as the claimant, is written on the insurance policy, and it is not usually transferred by endorsement. In principle, insurance policies are interpreted as neither securities nor negotiable securities. Sometimes, research is being done on legal reform to respond to digitalization of securities, and bills of lading are the subject of research. If marine cargo insurance policies, which are sometimes premised on distribution, have securities properties, the status of the regulations on digitization of bills of lading currently being studied may be helpful for digitization of marine cargo insurance policies. Under these circumstances, the securities of marine cargo insurance policies are reviewed based on recent practices.

• Proceedings of KOSOMES biannual meeting
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• 2017.04a
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• pp.243-243
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• 2017

• The Journal of Information Technology
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• v.7 no.1
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• pp.121-136
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• 2004

The purpose of this paper is to study the current situations of trade financial EDI based on The BOLERO system, New BOLERO system, The NACCS system in Japan and The EDEN(Electronic DElivery Negotiable document) system and problems in application of marine insurance contracts. Entwined with the contracts of carriage in international sale transactions is a contract of marine insurance by which the goods are insured against maritime perils. In the thesis I tried to explain the problems of paperless marine insurance contracts based on problems in relating to formation of the transit insurance contract and replication the functions of the marine insurance policy electronically.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.239-273
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• 2009

Marine insurance contracts, which intended to provide indemnity against marine risks upon the payment of a premium, originated in Northern Italy in the late 12th and early 13th centuries. The law and practice of Italian merchants were later introduced into England through Lombard merchants. It is, therefore, quite exact that English and Continental marine insurance law have common root. Nevertheless, some significant divergences between English and Continental marine insurance systems occurred since the late 17th century, mainly due to different approaches adopted by English courts. The rule of warranty in English marine insurance was established in the second part of the 18th century by Lord Mansfield, who laid the foundations of the modern English law of marine insurance and developed different approaches, especially in the field of warranty in marine insurance law. Since the age of Lord Mansfield, English marine insurance law has developed a unique rule on warranty. Bearing in mind the realities of the 18th century, it could easily be understood why Lord Mansfield afforded such a strict legal character to marine warranties. At that time, the 'promise' given by the assured, played an important role for the insurer to assess the scope of the risk. Legal environments, however, have changed dramatically since the times of Lord Mansfield. Of course, it is still important that the assured keep his promises to the insurer under the insurance contract, which is based upon utmost good faith. Nevertheless, the remedy of automatic discharge from liability, regardless of existence of a casual link between the breach and loss seems harsh in the realities of the 21st century. After examining the warranty regime adopted by the German and Norwegian hull clauses, it is fair to say that they provide a more equitable approaches for the assured than does English law. Therefore, this article suggests that English warranty regime needs overall reform and it is time to reform.

• Asia Marketing Journal
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• v.11 no.3
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• pp.225-249
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• 2009

Hyundai Marine & Fire Insurance has achieved its goal of revenue growth while most of insurance companies have failed. It is because Hyundai Marine & Fire Insurance continued to make sincere efforts to increase employee satisfaction. The service-profit chain posits that employee satisfaction is linked to customer satisfaction and to revenue growth. The case shows how Hyundai Marine & Fire Insurance put the service-profit chain to work and how different its internal marketing strategy is.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.15
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• pp.137-165
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• 2001

The study on the duration of risk in the marine insurance has been paid a great attention because the marine insurance has to provide several indemnity conditions including the one to be compensated the loss when the accident happens. The research examines as to how the duration of risk has been extended from the beginning period to now. The results show the duration of risk has been continually extended in terms of place and time by a dramatic change of environment related to the marine insurance including marine transportation, a variety of goods, development of marine communication, many different trading conditions, etc, and requirement of the assured. The validity of the duration of risk is effected when the ship leaves at the port and is terminated when the ship arrives at the final destination. It in the Lloyd's age has been started when the products was charged to the ship and terminated when the one was safely discharged to the destination. Recently, the duration of risk in England Marine Insurance attaches from the time the goods leave the warehouse or place of storage at the placed named for the commencement of the transit, continues during the ordinary course of transit and terminates on delivery to the consignees or other final warehouse or place of storage at the destination named. Further research on the extension of the duration of risk must be conducted according to the being large scale of the ship and goods.

• Journal of Arbitration Studies
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• v.15 no.2
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• pp.125-162
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• 2005

This paper examined excluded risks of insurer in marine insurance generally, and found out the existing studies on the excluded risks, which were accomplished partially and fragmentarily, to conduct a comparative analysis of marine insurance based on the general flow of claim adjustment. It arranges the existing studies to settle a dispute between the parties -insurer and assurer- and studies the excluded risk based on risk change of the insured by analyzing characteristic and class of security violation, and meaning, form, effect of risk change. it inquires into and analysis cases of the Korean Supreme Court related to the exclusion and illegal act of marine insurance to compare marine theorists' opinion with commercial law.