우리나라의 보험산업 규제ㆍ감독 연구 리뷰

This study reviews all the articles on insurance regulation published in major domestic insurance-related academic journals, analyzes trend and characteristics for the past 50 years, and suggests directions for the research in this field henceforth. We found several characteristics from the analysis. First, most studies concentrated on suggesting policy alternatives or direction that the government had to take to lead the insurance industry, instead of investigating the regulatory theories. Second, timely studies were conducted in response to the environmental changes surrounding the industry. Third, the mode of regulatory research was evolved from general to specialized studies. Fourth, viewpoint of regulatory research was also changed continuously. On the other side, limitations are the repetitive remark on the purpose and necessity of industry regulation in most studies, and that the studies appear as educational and discussion papers. Most studies addressed consumer protection with declarative approach, and considered it as a goal achievable indirectly through maintaining soundness of insurance companies. Some studies on rate regulation focused on whether rate regulation achieved its goal of consumer interest protection, while others raised compatible standpoint of the necessity of rate regulation and rate competition. Studies on financial solvency regulation suggested differential solvency standards as well as significance of solvency problem. Many studies on deregulation surveyed various cases and suggested introduction of regulations of advanced countries in accordance with the trend of liberalization. Research has been largely changed from institutional consistency to empirical approach. We suggest directions of future insurance regulatory research (i) to promote diversification for balanced advancement of learning and participation of researchers in other fields, and (ii) to encourage research with macro view, in addition to micro research, to draw regulatory directions.