An Increase the South-North Economic Corporations and Insurance as a Scheme for the Transfer of Risk - Focus on the Source of North Korea Insurance Law -

남북경협증가에 따른 위험의 완화방법으로서의 보험제도 - 북한보험법의 법원문제를 중심으로 -

  • Published : 2005.12.01

Abstract

Following the increased economic corporations between the South and North Korea, many companies participate the corporation program. They needs insurance policy as a scheme for the transfer of risk from those individual company to it to an insurer. This paper review the possibility of the North Korea insurance authorities and research the origin, history, structure and context of the North Korea insurance law. The North Korea Insurance law differ from the South Korea and China's. North Korea Insurance authority has not capability of doing insurance business both side of underwriting and indemnity. Partly, it caused the uncertainty, insufficient and vague of the insurance law. The writer conclude that the North Korea insurance law faced to the needs of modernization. Especially, the Gyesung Industrial Complex Insurance Regulation couldn't cover the investor and company's risk because it is not based on the nature and basic principles of insurance.

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