보험업법상 보험계약의 철회제도에 관한 고찰

The insurance cancellation protocol specified in the standard terms and conditions for insurance contracts was established in the Insurance Business Act as amended in 2014. The cancellation protocol involves the right to cancel an Installment transaction, door-to-door sales, and telemarketing contracts without any conditions. In regards to insurance market practices, it is recognized as a necessary protocol in the insurance industry. The United States and other advanced countries have adopted the insurance withdrawal system. According to the revisions to the Insurance Business Act, when an insurance policyholder notifies the insurer of his/her intent to cancel the insurance contract within 15 days from the date on which he/she received the insurance policy, the insurer is not permitted to reject the validity of the insurance contract. However, if more than thirty 30 days have elapsed from the date the insurance policy was received, then the insurance policy allows the insurer to reject the insurance policy as not being effective. The 2014 Insurance Business Act also prohibits interference with the cancellation of the insurance contract. The cancellation provisions in the Insurance Business Act (as amended in 2014) is important in that the commencement date for the exclusion period was manifested and the cancellation system has changed from the Insurance Standard Form to the Insurance Business Act. There are certain issues that are associated with the insurance cancellation system such as the inconsistency in the commencement date for the exclusion period and the Korean legal system, and the insurer has reserved the right to refuse the notice of insurance withdrawal. There is hope that the insurance withdrawal system will be improved by considering the original implications of cancellation and the transaction costs associated thereto.