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A Study on the over insurance - by focusing on the relationship of between a valued policy and an unvalued policy -

  • DONG-A LAW REVIEW
  • 2012, (54), pp.661-690
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

JeongKuk Park 1

1부산대학교

Accredited

ABSTRACT

Over insurance are designed regulations to realize the principle of the compensation for actual losses in property insurance and may vary criteria of whether the over insurance or not, calculation standards of compensation for damages and reward whether a valued policy or an unvalued policy. Compare legally, British Marine Insurance Act is clarify confirmation of the agreed value in a valued policy, there is no regulation on an unvalued policy in German Insurance Contract Law and Japan Insurance Law. By comparison, there are regulations for uncertainty of the agreed value and calculation standards of an unvalued policy in our 「Commercial Code」. The problem is necessity of legislative amendments for the exception rule of section 670 of the 「Commercial Code」 in uncertainty of the agreed value and section 671 of the 「Commercial Code」 in calculation standards of damages. Therefore, I will be discussed in legislative measures to improve the problem on the basis of legal review comparison of terms of over insurance in this paper.

Citation status

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