@article{ART001085831},
author={Han Ki-Jeong},
title={The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2007},
volume={18},
number={2},
pages={159-179}
TY - JOUR
AU - Han Ki-Jeong
TI - The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law
JO - Journal of Insurance and Finance
PY - 2007
VL - 18
IS - 2
PB - Korea Insurance Research Institute
SP - 159
EP - 179
SN - 2384-3209
AB - The Korean Government is seeking to reform the Insurance Business Law as soon as the National Assembly passed the Financial Investment Services Law(FISL).
The FISL introduced functional regulatory approach and enhanced customer protection, following the path made by U.k. and Japan. The new Insurance Business Law needs to adopt such a desirable approach and protection in the FISL.
It is suggested that the fiduciary duty, the duty to explain material facts to retail customers, self-regulatory guides of solicitation, agent’s duty to inform their legal identity, duty to deliver contract documents, and the right to cancel contracts, which are included in the FISL, be also introduced into new Insurance Business Law. On the other hand, the duty to classify customers, the principle of suitability, unwanted solicitation, and the duty to disclose commission do not have enough consensus to be included in the new Insurance Business Law.
KW - customer protection;functional regulatory approach;the duty to explain material facts;the reform of the insurance Business Law
DO -
UR -
ER -
Han Ki-Jeong. (2007). The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law. Journal of Insurance and Finance, 18(2), 159-179.
Han Ki-Jeong. 2007, "The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law", Journal of Insurance and Finance, vol.18, no.2 pp.159-179.
Han Ki-Jeong "The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law" Journal of Insurance and Finance 18.2 pp.159-179 (2007) : 159.
Han Ki-Jeong. The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law. 2007; 18(2), 159-179.
Han Ki-Jeong. "The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law" Journal of Insurance and Finance 18, no.2 (2007) : 159-179.
Han Ki-Jeong. The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law. Journal of Insurance and Finance, 18(2), 159-179.
Han Ki-Jeong. The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law. Journal of Insurance and Finance. 2007; 18(2) 159-179.
Han Ki-Jeong. The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law. 2007; 18(2), 159-179.
Han Ki-Jeong. "The Influence on Reform of the Insurance Business Law with regard to Customer Protection Caused by the Enactment of the Financial Investment Services Law" Journal of Insurance and Finance 18, no.2 (2007) : 159-179.
