보험규제의 범위에 관한 연구

임수민 전남대학교 법학연구소 2018 법학논총 Vol.38 No.3

본 연구에서는 시장에서 끊임없이 생겨나는 신종위험계약의 보험성과 그에 대한 보험규제 적용 여부 판단기준을 정립하기 위해, 국내 신용카드사가 2005년부터 신용카드상품의 부가서비스의 형태로 자사 신용카드회원에게 판매한 채무면제・채무유예상품(DCDS)의 보험성과 보험규제 적용 문제를 논의해보았다. 먼저, DCDS가 보험의 핵심적 요건을 갖추고 있는지를 살펴보았다. 동 계약을 통해 신용카드회원은 신용카드대금상환채무를 불이행함으로써 부담하게 되는 경제적・법적 위험을 우연한 사건의 발생을 조건으로 신용카드사로 이전시키는 방식으로 제거하기 때문에, 보험계약의 요건 중에서 위험이전이라는 요건은 충족된다. 또, 하나의 신용카드사와 동 계약을 체결한 회원의 수가 위험집단을 구성하기에 충분할 만큼 다수이고, 계약의 대상인 위험은 채무불이행위험이라는 동질적 위험이기 때문에 위험분산이라는 보험의 요건도 갖추고 있다. 다만, 수수료가 위험에 기초해서 산정되지 않는다는 점에서 언더라이팅과 같은 보험의 기술성과 관련해서 보험성이 부정될 여지가 있다. 그러나 언더라이팅에는 내재적 한계가 있고 보험의 기술성이 보험의 본질적 요건인지에 대해서는 의문이 있기 때문에, DCDS의 수수료 산정 방식만을 근거로 DCDS의 보험성을 부정할 수는 없다고 본다. 손해보험의 요건인 손해보상성과 관련해서는, DCDS 계약상의 보상액이 보장사건 발생으로 인해 신용카드회원이 입는 손해액과 일치하지 않고, 급부의 방식이 금전 지급 대신 채무의 면제라는 점에서 문제되나, 손해보험에 적용되는 실손보상법리는 완화해서 적용할 필요가 있고, 채무면제의 경제적・법적 효과는 채무변제의 그것과 다르지 않으며, 채무유예는 이자에 해당하는 금원을 지급하는 것과 경제적으로 동일하기 때문에, 손해보상성이라는 요건도 충족한다. 이처럼 DCDS는 보험의 본질적 요소를 구비하고 있으므로 우리 보험계약법과 현행 보험업법 제2조 제1호 본문이 말하는 보험계약에 해당된다. 그러나 어떠한 계약이 보험적 요소를 갖춘 위험이전계약이라고 해서 무조건 보험규제를 적용해야 하는 것은 아니다. 규제비용과 법체계적 정합성을 고려해 볼 때, 보험규제법이 아닌 다른 법률로 규율하는 것이 보다 바람직할 수 있기 때문이다. 어떠한 계약이 보험규제법의 적용을 받아야 하는 보험에 해당하는지를 판단하기 위한 여러 가지 기준을 검토해본 결과, 보험으로 규제하기 위해서는 보험규제를 통해 제거해야 할 해로움이 내재된 계약이어야 한다는 규제필요성 기준이 가장 적합하다는 결론에 이르렀고, 이 기준에 따라 DCDS가 보험규제의 대상인지를 살펴보았다. 보험회사의 지급능력에 대해 강도 높은 규제를 하는 이유는 보험료 납부시점과 보험금 지급시점 간의 기간이 길다는 점, 보험금 지급의 확실성이 보험자의 약속과 자력에만 달려 있는 보험의 특이한 생산구조, 보험회사에는 회사의 과도한 위험추구전략을 막을 수 있는 집중된 채권자가 없다는 보험회사 특유의 지배구조 때문이다. 그런데 DCDS 계약은 수수료가 월 단위로 납부되고, 수수료 납입기간과 보장기간이 일치하며, 급부실행시점보다 소비자에 대한 여신이 선행한다는 점에서 보험과는 다른 생산구조를 가지고 있다. 또, 신용카드사는 보험회사와 다른 자본조달방식을 가지고 있어서 집중된 채권자가 존재한다. 따라서 신용카드 ... This study aims to establish the standard of judgement which contracts are insurance contracts. There are some contracts and financial instruments concerning new risks because there are lots of new risks as technology and society developing and strong needs to deal with those through making contracts. With this issue in mind, in this article, I examine whether debt cancellation・debt suspension contracts are insurance contracts and should be subjected to insurance regulations. Those contracts were created in USA and were introduced into Korean market by credit card companies in 2005. First, I inquire about the contract's eligibility to be regarded as an insurance contract by satisfying central requirements of insurance and of applying insurance regulations by classifying it as an insurance. Upon examining these inquiries by the comparative analysis, I conclude that an insurance requirement, ‘transfer of risk’, is met as the financial and legal risks are transferred to credit card companies, which are generated by credit card users who face property damage by accidental events which disable them to fulfill the duty over credit card bills. And an insurance requirement, 'risk spreading', is also met as the contract satisfies the condition which enables spreading risks via formulation of risk groups since the number of consumers who made debt cancellation・debt suspension contracts with a credit card company are sufficiently large. Even though classification of risks, underwriting, and estimating rates based on respective risk evaluations are not conducted in the stage of signing a debt can- cellation・debt suspension contract, the contract satisfies the condition which enables spreading risks via the congregation of identical risks, too. Because it is needed to relax insurance requirement relevant to the homogeneity of risk. Additionally, the fact that the law of large numbers is not applied in assessing a fee rate does not mean these contracts are not insurance contracts because technicality of insurance is not a fundamental element of insurance. As to compensation for damage as a requirement of indemnity insurance, it is a question of meeting the damage compensation requirement, as the amount of damage occurred to a credit card user is not matched to the amount of cancellation or suspension issued by a credit card company. Additionally, it is different from benefits of insurance as the payment indicated by debt cancellation・debt suspension is not actually transferred into a cash at the payment realization time. However, it is necessary to alleviate the principles of loss compensation relevant to indemnity insurance, and the financial and legal effects of debt cancellation do not differ from debt repayment, and it is financially equivalent to pay the amount of debt suspension interest. With this reasoning, I judge the contract meets the loss compensation requirement. Likewise, a debt cancellation・debt suspension contract meets the fundamental requiment of insurance, it can be classified as an insurance contract that is described in the insurance contract law and article 2(1) of the Korean Insurance Business Act. However, any risk transferring contract that has insurance-like elements is not always applicable to insurance regulations. Considering the regulatory cost and legal coherence, it would be proper to regulate the contract by other laws than insurance regulation laws. As to decide which contract should be regulated by insurance regulation laws, I review a variety of criteria and reached to the most suitable conclusion, that is to suggest a necessity of a regulatory criterion that internally contains harms eradicated through insurance regulations so as to impose the contract as an insurance. Based on the criterion, I examine whether debt cancellation・debt suspension contract is eligible for an insurance which insurance regulations are applied. As to the necessity of solvency regulation, it is required t...

보험사기 예방 및 근절을 위한 IAIS ICP 21에 관한 연구: 보험업 감독규정에 근거한 경영실태평가제도의 비교를 중심으로

한창희,표성엽 금융감독원 2016 금융감독연구 Vol.3 No.1

This study aimed to determine if fraud risk management and supervision by South Korean competent institutions was reasonable, focusing on principal items related to insurance fraud prevention status with risk assessment and application system based on the regulations on supervision of insurance business in South Korea as well as the recommendations by IAIS about prevention and eradication of insurance fraud. As for awareness of fraud risk, IAIS and South Korean competent authorities have the following characteristics: ICPs concerning IAIS insurance fraud prevention and eradication regard every working behavior of insurers as a potential fraud risk and recommend finding association with other ICPs. Instead of regarding a fraud risk as a single risk, they consider fraud risks of authorization and permission by insurers and regard it as a potential risk for insurance business in general. So they require fraud risk management in every stage of supervision of insurance business. They consider insurance solicitors as those causing insurance fraud and recommend reinforcing internal control for them and applying the criteria for insurance fraud prevention to insurers and insurance solicitors equally. Compared with IAIS, South Korean authorities increase post-management and reinforce relevant assessment and supervision, taking repetitive insurance frauds into account. The general recommendations of IAIS are limited to the 'system for sharing information about frauds' by the competent authorities for the level of post-management with the aim of recommending work performance by the authorities to prevent fraud risks. In contrast, South Korean competent authorities regard post-management related to insurance fraud as risk management in consideration of the continuous characteristics of insurance contract and require specific work performance.

기업의 재무위험관리를 위한 금융재보험계약의 연구

옥무석 ( Moo Seok Ok ) 이화여자대학교 법학연구소 2020 法學論集 Vol.25 No.2

보험은 기업활동에 따른 재무위험을 분산하는 기능을 담당하는 만큼 산업에서 가치연관사슬(value chain)의 재조정경향과 산업의 국제화경향에 동조화되는 것은 필연적이다. 보험분야에서도 이러한 경향을 반영하여 새로운 위험이 발견되면 이를 보험으로 담보하여 사회적으로 위험을 분산하려고 하는 새로운 보험(emerging risk insurance)의 형태로 개발하고 있다. 금융산업의 국제화는 이미 OECD의 여러 관련 규약 및 지침에서 예견되어왔는데, OECD 자본자유화 규약(The OECD Code for Liberalizing Capital Movements)과 세제분야에서 보험을 포함한 금융전반을 적용대상으로 하는 이전가격지침(OECD, 2010 Report on the Attribution of Profits to Permanent Establishments, 22 July 2010)에서 이러한 사업환경변화를 예고한바 있다. 더하여 이에 관한 이와 같은 새로운 움직임은 보험산업의 혁신성을 반영하는 것인데, 우리나라에서도 최근들어 2021년 보험계약에 대한 국제회계기준(IFRS 17) 시행을 앞두고 보험업계 및 학계를 중심으로 보험회사의 자본적정성 확보를 위하여 지급 여력(solvency margin)제도에서 재보험 인정한도 폐지, 금융재보험 도입 등 기업재보험의 활성화 필요성이 꾸준히 제기되고 있다. 신종위험보험(new risk cover)를 통한 금융위험관리( finanancial risk management)는 기존 보험리스크 보험과는 상당한 괴리를 보이고 있다. 따라서 이러한 새로운 위험담보보험에 필요한 체계적인 제도적 보완이 필요하고 이를 위한 다학제적인 연구가 필요하다. 이 논문에서는 이러한 연구분야의 하나로 금융재보험, 한정위험보험계약에 관한 서설적 소개를 하고, 전통적 보험에 대하여 신종 리스크의 상품화를 위한 제도적 미비점을 살펴보았다. Insurance has been responsible for distributing financial risks associated with corporate activities. For that reason, it is natural that the insurance industry is in sync with the trend of readjustment of the value chain and internationalization of non-financial industries. In recent years, as a new issue to be noted in the insurance field, it is a movement to spread risk internationally by securing an newly emerging risk cover in addition to the existing traditional risk covers. This is called emerging risk insurance, and the internationalization of insurance industry. As with the globalization trend in the financial industry, the OECD's 2010 Report on the Attribution of Profits to Permanent covers many of the OECD's relevant codes and guidelines, such as The OECD Code for Liberalizing Capital Movements and the entire financial services sector, including insurance in the tax sector. Establishments, 22 July 2010, foreshadowed this change in business environment. Moreover, this new move reflects the innovation of the insurance industry. In Korea, recently, in order to secure capital adequacy of insurance companies, mainly in the insurance industry and academia, ahead of the implementation of the International Accounting Standard (IFRS 17) for insurance contracts in 2021. The need to revitalize corporate reinsurance, such as the abolition of the limit for reinsurance and the introduction of financial reinsurance in the solvency margin system, has been steadily raised. In particular, financial risk management through the new risk cover shows a significant difference from existing insurance risk insurance. Therefore, systematic institutional supplementation necessary for this new risk-covered insurance is needed, and multi-disciplinary research is needed for this. In this paper, an introduction to financial reinsurance and finite risk reinsurance contracts was introduced as one of these research areas, and the institutional flaws for insuring new risks against traditional insurance were examined.

사이버 위험에 대한 미국 보험사업자의 대응에 관한 연구

김원각 한국경제법학회 2022 경제법연구 Vol.21 No.3

With the invention of computers and the worldwide spread of the Internet, cyber risks that mankind has never experienced before have become a reality. Science and technology, such as the Internet of Things and big data, have invented and developed. Along with this, the desire to acquire information, which has increased economic value, is getting stronger. Beyond simple computer virus infection, various cyber attack technologies such as hacking and ransomware are developing. Even, security vulnerabilities resulting from the spread of telecommuting following the Corona 19 pandemic are encouraging cyber attacks. In this situation, there is increasing interest and discussion around the world about how to respond to cyber risks that are difficult to estimate the size, attack pattern , and damage. In the United States, which is a leader in the digital industry and insurance and emphasizes data and privacy protection, related laws have been prepared at both federal and state level. On the other hand, as a way to prepare for cyber attacks, there is a way to strengthen security in advance and prepare follow-up measures for unavoidable damage. The first thing that comes to mind about unexpected damage due to unexperienced is the use of the insurance system. This idea is based on what we experienced in the Y2K crisis. Currently, insurance companies are path-dependent, but they urgently cover cyber risks with traditional liability insurance products (E&O, D&O, CGL, Property, Business interruption). A small number of insurance companies have developed new cyberinsurance products specialized in virtual risk. However, cyber risk was not a consideration in traditional insurance. In particular, the use of traditional insurance products is not an adequate countermeasure due to fear of the potential risk of so-called 'silent cyber risk'. On the other hand, in the case of developing specialized products, because of the insufficient statistical data, there is a tug-of-war (tension) over matters affecting the interests of insurers and insureds, such as calculation of insurance premiums, coverage of insurance, reasons for exemption, repair or restoration costs, connection of ancillary services such as security, etc. This study introduced some cases of the U.S. insurance companies. Recently, discussions on cyber insurance have been made in Korea, but previous studies seem to have difficulties in dealing with this issue from a legal point of view. It is thought that this is not due to the lack of research capabilities of preceding researchers, but because the prior tasks of cyber insurance have not yet been sorted out. Despite the experience of facing the Y2K crisis, insurers are running about confusion over product design in the face of cyber risks. Even in foreign countries, there are legal scholars who confess that cyber insurance is still too early to become a typical research subject in law. In a market situation where domestic insurance companies are unable to actively develop products for cyber insurance, we expect that the example of the United States will give us some suggestions. Due to the limited pages allowed in the journal, the discussion on whether traditional insurance products cover cyber risk will be dealt with in a separate paper. 컴퓨터의 발명과 인터넷 보급에 따라 인류가 그동안 경험하지 못했던 사이버 위험이 현실로 되었다. 사물인터넷, 빅데이터 등 기술과 과학이 발달하고 경제적 가치가 커진 정보에 대한 획득 욕구가 강해지면서 위험도 커지고 있다. 단순한 바이러스감염이나 컴퓨터의 물리적 기능을 훼손하는 수준을 넘어 정보탈취, 전쟁수행, 영업방해 등 공격 목적이 다양해지고 해킹, 랜섬웨어 등 나쁜 기술도 진전되고 있다. 코로나19 팬더믹으로 재택근무 확산에 따른 보안의 취약은 사이버 공격을 부추기고 있다. 이와 같은 상황에서 그 규모와 공격양상, 피해를 가늠하기 어려운 사이버 위험에 대응하는 방법에 대한 관심이 세계적으로 높아지는 것은 자연스러운 일이다. 디지털산업과 보험의 강국이면서 데이터, 프라이버시 보호를 강조하는 미국에서는 연방법, 주법 등 다양한 레벨에서 정보보호와 보안강화 법제를 마련해 왔다. 동시에 사이버 공격에 대한 대비방법으로 미리 보안을 강화하고 불가피하게 발생한 피해에 대하여는 사후적인 수습책 마련에 나서고 있다. 미경험의 거대 피해에 대하여 가장 먼저 생각하게 되는 것은 보험제도의 활용이다. 이와 같은 발상은 우리가 Y2K 위기에서 경험한 바 있다. 현재 많은 보험사업자들은 경로의존적이긴 하지만 급한대로 전통적인 배상책임 보험상품(E&O, D&O, CGL, Property, Business interruption)으로 대응하고 있다. 그러나 전통적 보험에서는 사이버 위험은 고려사항이 아니었다. 특히 이른바 ‘silent cyber risk’의 잠재적 위험에 대한 두려움으로 전통적 보험상품은 한계를 노출하고 있다. 이에 따라 몇몇 보험사업자는 사이버 위험을 겨냥한 보험상품을 개발하였다. 사이버 위험에 특화된 상품을 개발할 경우 통계자료 미비로 적정 보험료 산정이 어렵고, 담보범위와 면책사유를 치밀하게 설계하여야 한다. 아울러 수리나 복구비용 또는 보안과 같은 부대 서비스 연계 방안 등도 강구되어야 한다. 새로운 위험, 변하는 위험에 대한 경험의 부족은 정확한 예측으로 보완되어야 하고 시장실패에 대한 용기도 있어야 한다. 각국이 사이버보험에 대하여 다소 소극적인 상황에서 미국의 일부 보험사업자들은 사이버보험 시장을 선도하고 있다. 최근 국내에서도 사이버보험에 대한 논의가 늘고 있다. 선행연구들은 법학적 관점에서 이 문제를 다루는 데 다소 미흡해 보인다. 이는 선행연구자들의 연구역량이 부족해서가 아니라 대부분 정보보호, 보안기술, 보험전문가의 입장에서 다루거나 통계 등 사이버보험의 선결 과제가 아직 정리되지 않아 표준적인 약관을 찾기 어렵기 때문으로 생각된다. Y2K사이버보험 사태에 직면하여 우왕좌왕하였던 경험을 많은 보험사업자들은 되풀이하고 있고, 무엇보다 공통된 담보범위와 면책사유의 표준을 제시하기 어려운 지금의 사정을 감안할 때 사이버보험은 아직 법학의 깊은 연구과제가 되기에 이르다는 외국학자들도 있다. 그러나 사이버보험은 각양각색의 모습으로 시장에 출현하였고 당연히 여러 가지 다툼의 소지가 있다. 국내 보험사업자가 사이버보험에 대한 상품개발에 본격적으로 나서지 못하는 시장 상황에서 미국의 앞선 사례가 우리에게 몇 가지 시사점을 줄 것으로 생각한다. 본고에서는 먼저 미국의 사이버 위험 대응 입법을 본다. 이들 입법은 딱히 사이버 공격을 의식한 법이라기 보다는 프라이버시나 데이터 보호를 목적으로 ...

비갱신 생존담보상품의 리스크분석과 감독방향

오창수,김세중,오수연,변재웅 한국리스크관리학회 2013 리스크 管理硏究 Vol.24 No.1

최근 건강보험 전체 사차손익이 악화되는 것에 대한 리스크관리로 갱신형보험이 도입되었으며 실손형보험에서는 갱신형보험이 주류를 이루고 있으나 생존 담보에 대하여는 비갱신형이 많이 판매되고 있는 실정이다. 생존담보를 비갱신으로 운영하는 경우 위험률 추세변화를 반영하지 못하기 때문에 상품의 수익성 관리와 리스크관리에 문제가 있을 것으로 판단되기 때문에 위험률추세를 고려한 비갱신 생존담보 운영에 대한 연구의 필요성이 제기된다. 비갱신 생존담보상품에 대한 리스크를 분석하기 위하여는 국제적 기준 하에서 비갱신 생존담보상품의 리스크를 객관적으로 고찰하는 것이 필요할 것이다. 본 연구의 비갱신 생존담보상품의 책임준비금 감독방향에서는 국제회계기준 2단계와 Solvency II를 기초로 LAT에서 현행추정치의 개념에 현행위험률과 위험률의 장래추세를 인정하고 이를 반영하여 비갱신 생존담보상품의 준비금을 평가하는 책임준비금 개선방안을 제시하였다. 비갱신 생존담보상품의 지급여력제도 개선방안은 비갱신 생존담보상품에 대한 지급여력의 강화와 비갱신 생존담보상품과 갱신형 생존담보상품에 대한 지급여력 요구자본의 차별화를 제시하였다. 본 연구에서 수행한 분석에 따르면 갱신형 생존담보상품과 비갱신 생존담보 상품의 확실한 감독규정상 차별화가 필요하며 생존담보를 비갱신에서 갱신형으로 전환시키는 노력이 필요한 것으로 판단된다. 보험업계와 감독당국이 이에 대한 대비와 조치를 적절히 취하는 것이 향후 보험산업을 건전하게 성장시키는 방안이 될 것으로 판단한다. Recently the renewal type insurance product is introduced to life insurance industry as a risk management tool due to the deterioration of mortality profit and loss for the health insurance. While the majority of medical indemnity insurance products are renewal types, most of survival insurance products are still sold as non-renewal types. As the future trend of risk rate can not be reflected in non-renewal type insurance products, it is hard to manage profits and risks of the survival insurance products. So we need to study renewal type survival insurance products to reflect future trend of risk rate. For the risk analysis for non-renewal type survival insurance products, we need to review the risk for non-renewal type survival insurance products through the global standards. In our study, we suggest the improvement of policy reserve using current estimates reflecting current risk rate and the future trend of risk rate in LAT(liability adequacy test) based on IFRS phase II and Solvency II, and also we suggest the improvement of solvency margin for non-renewal type survival insurance products by tightening the solvency margin and introducing differentiated solvency required capital for non-renewal type survival insurance products. To sum up the results of the studies, we need to differentiate regulation rules for non-renewal type survival insurance products from renewal type survival insurance products, and make an effort to convert renewal type survival insurance products into non-renewal type survival insurance products. Finally, it could be a way to foster the Korean insurance industry soundly that insurance industry and supervisors prepare for these changes and take proper actions.

해상보험과 위험관리에 대한 고찰

한낙현(Han NakHyun) 한국해양비즈니스학회 2005 해양비즈니스 Vol.- No.5

  The marine insurance from insurance field and area of study is becoming to all sinking sun tendency. Namely, the marine insurance was to a non-life insurance field and as the founder reigning it did, at history and with one phased dignity insurance field than also it compared at non-marine insurance field it was located. But the market share of marine insurance falls gradually with rise of auto insurance and change of social economy, and as founder of non-life insurance reigning doing is pushed the position now and with the insurance which is special field it is located.   There is to a tendency where also the marine insurance as study is identical. Namely, currently the scholar who from domestic has interests in marine insurance is only excessively in decimal.   It is published special books which the Williams·Heins, the Dennenberg and the Mehr·Hedges write and also the curriculum of the college is changed due to an internationalization and information time and the book"s name which these write is included in course subject of the college. In these books, it treats insurance in the risk transfer which is one means of risk management. Namely, the insurance is to a risk management and there is a possibility of saying that excessively it is only in the study one part hold.   In addition to, the risk management from the sea is the method which it disposes against the various risks. For examples, they are trade logistics risk of goods, liability risk of carrier and economic loss of the shipping manager in vessel operation which relates with the transport by sea which accompanies to the international trade.   Consequently concrete contents of various marine insurance, the international conventions and rules regarding the maritime affairs which are, it must be familiarized the person in charge of the enterprise and shipping company, to be to a person in charge of the bank or insurance company which takes charge of an international finance settlement and the indispensability is a possibility of doing. The risk compared to becomes diversification more and it is becoming complicated, also new convention, also the rule continues and it is established. Consequently the enterprise it will not do to be positive, is not only a possibility which it will exist the dangerously.   The purpose of this paper aims to explain relation of marine insurance and risk management.

Exports of SMEs against Risk? Theory and Evidence from Foreign Exchange Risk Insurance Schemes in Korea

Seo-Young Lee 한국무역학회 2019 Journal of Korea trade Vol.23 No.5

Purpose - This paper examines the effectiveness of the foreign exchange risk insurance system in the promotion of SME exports in Korea. The purpose of this study is to analyze the short-term and longterm responses of SME exports to foreign exchange risk insurance support policies. Based on these empirical studies, we would like to present some operational improvements to the operation of the foreign exchange risk insurance system. Design/methodology - In order to analyze the effect of exchange risk insurance on the exports of SMEs, a VAR model consisting of foreign exchange risk insurance underwriting values, export relative price, and domestic demand pressure, including export volume, was established. The study began with tests of the stationarity of time series data. The unit root tests showed that all concerned variables were non-stationary. Accordingly, the results of the cointegration test showed that the tested variables are not cointegrated. Finally, an impulse response function and variance decomposition analysis were conducted to analyze the impulse of foreign exchange risk insurance on exports of SMEs. Findings - As a result of estimating the VAR (1) model, foreign exchange risk insurance was found to be significant at a 1% significance level for SME’ export promotion. In the impulse response analysis, SMEs’ export response to the impulse of foreign exchange risk insurance showed that exports gradually increased until the third quarter, and then slowed down. However, the impulse did not disappear, and appeared continuously. Originality/value - This study analyzed the effect of foreign exchange insurance on exports of SMEs by applying the VAR model. In particular, this study is the first to analyze the short-term and longterm effects of foreign exchange risk insurance on exports of SMEs. The empirical evidence in the current study have a policy implication for the policy authority to support and promote the foreign exchange risk insurance in the effect of exchange rate volatility on Korea export SMEs.

사이버보험 활용의 순기능과 역기능에 관한 연구

신계하,손승우 한국산업보안연구학회 2022 한국산업보안연구 Vol.12 No.3

Today's society is heavily dependent on information and communication technologies, and crimes based on cyber attacks are rapidly rising around the world. The recent outbreak of COVID-19 has especially changed the patterns of cyber attacks following a transition to remote work and increased attacks abusing the pandemic situation. Cyber risks are increasingly bigger, grow diverse in patterns, and evolve gradually. As more and more interest is shown in the management of cyber risks, cyber insurance is getting attention as a way of managing cyber risks. Cyber insurance has emerged as an effective means of management to prepare for a loss due to cyber risk. Corporations can increase their management stability by transferring the loss risk of a cyber attack to cyber insurance. Experts predict that the cyber insurance market will continue to expand and grow according to greater perceptions of cyber risks. The utilization of cyber insurance does not have, however, only positive effects. There are negative effects involved in cyber insurance including adverse effects following the shift of responsibility to cyber insurance and attacks at corporations that bought a cyber insurance policy. This study thus set out to investigate the positive and negative effects of cyber insurance utilization and review plans to maximize its original functions and eliminate its adverse effects. Cyber insurance does not remove all the cyber risks from a subscriber. Cyber insurance should be used as a means of managing cyber risks. There are still many more things to discuss for the facilitation of its utilization. The study proposed advantages for firms that bought a cyber insurance policy to reinforce and vitalize its right functions, provided a plan to establish the clear coverage of cyber insurance and build a data pool of cyber risks, and reviewed policy reactions and discuss matters about cyber insurance. 우리 사회는 정보통신기술 의존도가 높은 만큼 전 세계적으로 사이버공격으로 인한 범죄가 급속도로 증가하고 있다. 특히 최근 코로나19 사태로 인한 원격근무로의 전환은 사이버공격 양상을 변화시켰고, 코로나19 상황을 악용하는 공격도 증가했다. 이처럼 사이버위험은 규모가 커지고양상도 다양해지며, 점차 진화하고 있고, 사이버위험 관리에 대한 관심이 높아짐에 따라 사이버위험 관리의 방안으로 사이버보험이 주목받고 있다. 사이버보험은 사이버위험으로 인한 손실에대비할 수 있는 효과적 관리 수단으로 부상했다. 기업에서는 사이버공격 발생 시 발생하는 손실에 대한 리스크를 사이버보험으로 이전하여 경영의 안정성을 높일 수 있다. 전문가들은 사이버위험에 대한 인식이 커질수록 사이버보험 시장의 규모는 커질 것이고, 계속 성장할 것으로 예상하고 있다. 그러나 사이버보험 활용이 긍정적인 효과만 있는 것은 아니다. 사이버보험 책임 전가에 따른 역효과가 발생하기도 하고, 사이버보험 가입 기업을 대상으로 한 공격이 발생하는 등 부정적인 효과도 나타나고 있다. 따라서 본 연구는 사이버보험에 대한 긍정적·부정적 활용 효과를 파악하여 그 본연의 기능을 극대화하고 역효과를 제거할 방안을 검토하고자 한다. 사이버보험이 모든 사이버위험에서 벗어나게 할 수 있지는 않다. 사이버보험은 사이버위험 관리 수단의 하나로써 활용되어야 하며, 그활용을 촉진하기 위해서는 아직 논의할 사항이 많이 남아 있다. 그러므로 사이버보험의 순기능을 강화 및 활성화하기 위해 사이버보험 가입 기업에 대한 어드밴티지를 제안하였고, 사이버보험의 명확한 보장범위와 사이버위험 관련 데이터 풀을 마련하는 방안은 제시하며, 사이버보험관련 정책적 대응과 논의사항을 검토하였다.

전자상거래 위험관리 방안에 관한 연구(보험제도를 중심으로)

라공우민태홍 한국무역상무학회 2005 貿易商務硏究 Vol.27 No.-

Todays, computers in business world are potent facilitators that most companies could not without them, while they are only tools. They offer extremely efficient means of communication, particularly when connected to Internet. What I stress in this article is the risks accompanied by e-commerce rather than the advantages of Internet or e-commerce. The management of e-commerce companies, therefore, should keep in mind that the benefit of e-commerce through the Internet are accompanied by enhanced and new risks, cyber risks or e-commerce risks. For example, companies are exposed to computer system breakdown and business interruption risks owing to traditional and physical risks such as theft and fire etc, computer programming errors and defect softwares and outsider's attack such as hacking and virus. E-commerce companies are also exposed to tort liabilities owing to defamation, the infringement of intellectual property such as copyright, trademark and patent right, negligent misrepresent and breach of confidential information or privacy infringement. In this article, I would like to suggest e-commerce insurance or cyber liability insurance as a means of risk management rather than some technical devices, because there is not technically perfect defence against cyber risks. But e-commerce insurance has some gaps between risks confronted by companies and coverage needed by them, because it is at most 6 or 7 years since it has been introduced to market. Nevertheless, in my opinion, e-commerce insurance has offered the most perfect defence against cyber risks to e-commerce companies up to now.

테러리즘 위험 보험의 법리에 관한 연구

한철 ( Cheol Han ) 단국대학교 법학연구소 2015 법학논총 Vol.39 No.1

The September 11th attacks cost the American economy an estimated $1 trillion. Such an economic loss sent shock waves through the global economy. The 9.11 attacks represented one of the costliest insurance events in history. U.S. Congress reacted by passing legislation to stabilize insurance markets. The Terrorism Risk Insurance Act of 2002 (TRIA) was intended to be a temporary solution to the hardening of the insurance market so that the private insurance market could respond to the new terrorism risk. But TRIA has failed to produce the private market response it hoped to encourage. TRIA was never going to encourage a private market for terrorism insurance that could support itself without TRIA’s reinsurance backstop. One way to deal with these catastrophe risks is through reinsurance. Reinsurance is influenced by price cycles, which are particularly pronounced in catastrophe insurance. Given this cyclic nature of the reinsurance market, investors have incentives to look for alternative capital sources. The most straightforward way for (re)insurance companies to raise capital in the capital market is to issue company stock. However, holding extra capital by insurers includes both benefits and costs. Moreover, any investor in an insurance company’s stock is subject to the risks of the entire company. One very attractive option as additional solutions is capital market instruments. These instruments can face risks associated with the insurance company’s underwriting standards but do not take on the risk of the overall insurance company’s operations.