Article 651-2 (Effects of Questions in Writing) Any fact about which the insurer asks in writing shall be presumed to be material. THE High-quality & Good Contents
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Article 643 of Commercial Act: Retroactive Insurance
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Article 643 (Retroactive Insurance)
The parties to an insurance contract may agree that the coverage shall commence at a certain time prior to the conclusion of an insurance contract.
THE High-quality & Good Contents
[Original]
제643조(소급보험)
보험계약은 그 계약 전의 어느 시기를 보험기간의 시기로 할 수 있다.
THE 수준 높고 좋은 글
[Attorney's Notes] Retroactive Insurance is purchased to cover a uncertain event after it has occurred.
Article 651-2 (Effects of Questions in Writing) Any fact about which the insurer asks in writing shall be presumed to be material. THE High-quality & Good Contents
Supreme Court Judgment 2004Da56677 Delivered on September 22, 2006[Insurance Proceeds] [Main Issues] [1] The method of a third person's written consent which is a requirement for validity of life insurance contract which covers the death of a third person as an insured event [2] Whether the insured's approval of the life insurance contract which covers the death of a third person as an insured event renders the insurance contract valid, where the insurance contract had been concluded without written consent of the insured (negative) [3] The case holding that it does not violate the principle of trust and good faith for the insurer to argue the nullity of the life insurance contract which covers the death of a third person as an insured event where there was no written consent of the insured, even in the case where the insurer has been receiving the premium for years or has paid the hospitalization payment following the life insurance contract [Summary of Decision] [1...
Article 648 (Requests for Return of Premiums upon Nullification of Insurance Contracts) Where an insurance contract becomes invalid in whole or in part, if a policyholder and the insured have acted in good faith and without gross negligence, they can demand a return of the insurance premium, in whole or in part. The same shall also apply where the policyholder and the beneficiary have acted in good faith and without gross negligence. THE High-quality & Good Contents
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