Crimes Related to Insurance and Their Prevention and Control in Korea (From Report for 1987 and Resource Material Series No. 33, P 199-222, 1988, Hideo Utsuro, ed. -- See NCJ-124255)

• NCJ Number: 124261
• Author(s): S Yeong-Je
• Date Published: 1988
• Length: 24 pages
• Sale Source: National Institute of Justice/; United Nations Asia and Far East Institute for the Prevention of Crime and Treatment of Offenders
• Publication Type: Issue Overview
• Language: English
• Country: Japan

Annotation

After an introductory overview of the insurance business in Korea, this paper discusses the regulation of insurance companies in Korea, case overviews of major insurance-related crimes, characteristics of insurance-related crimes, and the prevention of insurance crimes.

Abstract

Following a brief history of the insurance business in Korea, an outline of the insurance business in 1986 covers general economic trends, the life insurance business, the non-life insurance business, and world ranking as measured by premiums paid. A discussion of the regulation of insurance companies considers the need for such regulation and provisions of the Insurance Business Act. Case reviews of major insurance-related crimes in Korea cover a sample of criminal cases associated with life insurance, fire insurance, and marine insurance. An outline of the characteristics of insurance-related crimes addresses the relationship between accused persons and the victims, criminal methods, motives, conspiracy, and offenses associated with automobile insurance. Suggestions for steps the state can take to prevent insurance crimes include compulsory rules on insurance contract law, strengthened criminal sanctions, and reinforcement of the system of investigating insurance crimes. Preventive suggestions for insurance companies focus on the insurance contract, the quality and education of insurance salespersons, and claims payment. 44 notes.