그리스의 보험업규제와 그 시사점에 관한 연구

Recently so many countries are experiencing difficulties in financial crisis originated from the United States and the European Union (hereinafter EU). As is generally known, the EU was infected from the United States. Especially PIIGS expose themselves to state defaults. Greece is the core of financial turbulence and the worst because Germany and France are the two largest creditors in Greece. If Greece is in insolvency, the two largest creditors cannot get their money from her. The EU’s entire economy will be about to be collapsed. In this sense, the piece reviews the Greek financial regulation and concludes as follows:(1)While accident insurance under the Greek legislation is included in life insurance, such accident insurance under the Korean legislation is not included in life insurance. (2)There are two insurance regulators in the Geek legislation. However, only one regulator controls the insurance activities in Korea. (3)The Greek legislation needs to be authorized for reinsurance activities besides the authorization of insurance. On the other hand, the Korean legislation does not require to be authorized for reinsurance with the authorization of insurance activities. (4)There is the ethical standard for the authorization and revocation of insurance activities under the Greek legislation. But there is not in the Korean legislation. (5)The Greek legislation does not have the preliminary authorization for insurance activities, but the Korean legislation does. (6)Insurance companies set the method of insolvency for themselves under the Greek legislation. However, the Korean legislation allows an insurance regulator to set such a method of insolvency for insurance companies. (7)While the majority of board of directors of an insurance company under the Greek legislation is limited to peoples of Greece, EU members or EEA, there is not any restriction on the nationality of board members in insurance companies under the Korean legislation. (8)There is not any compliance officer under the Greek legislation, but the Korean legislation has such a compliance officer with internal control system for insurance companies. (9)While the Greek legislation does not have any prompt corrective action, the Korean legislation does. (10)The Greek legislation focuses on the cooperation with regulators of other countries. However, the Korean legislation mainly cooperates with inner regulators or related associations.