Insurance Law Research Articles

Institutional Response in Insurance Regulations Amid COVID-19 and Its Impacts in EU and Pakistan

The purpose of current study is to evaluate the institutional response of the insurance regulations under Contract Law and compare the data from Europe and Pakistan. To conduct the study, the data was collected through already published annual reports of the insurance companies, and government’s reports regarding how insurance companies had been responding to the consumers during pandemic. The findings revealed that European countries were badly affected by the COVID-19 when compared with Pakistan, therefore the consumers’ requests for reimbursements were high in ratio. This led to the situation where the surplus of the insurance companies ended, and made them unable to serve the consumers as per the Contract Insurance Law. On the contrary, the situation in Pakistan was different, as there are less number of insurers. Thus, the study discusses in details regarding the differences in institutional responses in insurance regulations of the countries, and need for legislative updates

ASURANSI SEBAGAI LEMBAGA EKONOMI DALAM PERSPEKTIF HUKUM ISLAM


 
 
 Muslims today are faced with contemporary economic problems caused by the development of science and technology. For this reason, Islamic economics must be able to face or answer and provide solutions or alternatives to growing economic problems, one of which is the problem of insurance. Insurance, which is closely related to muamalat, is a new type of contract that has generated a lot of discussion and opinion about insurance law from an Islamic point of view. Therefore insurance needs to be studied in depth in the perspective of Islamic law, both conventional insurance and sharia insurance.
 
 

TINJAUAN YURIDIS TERHADAP HAK DAN KEPENTINGAN PEMEGANG POLIS ASURANSI

In everyday human life, there are several problems that pose a risk to oneself, personal belongings or family property, where the risk is something that arises unexpectedly. To overcome these unexpected problems, the role of insurance is very important in providing protection. Insurance is an insurance agreement between the insurance company and the policyholder with the obligation to pay premiums and provide guarantees to pay compensation. In general, the classification of insurance is divided into 3 types, namely: life insurance, general insurance, and reinsurance. The rights of policyholders when viewed from the aspect of consumer protection are regulated in Law Number 8 of 1999 concerning Consumer Protection. Insurance is very closely related to the presence of the OJK Institution as the only institution responsible for insurance companies, as stipulated in OJK Regulation Number 28/POJK.05/2015. The purpose of this journal is to legally review the rights and interests acquired by insurance policy holders. This research uses normative method. The results of the first study, the rights of policyholders have not been explicitly regulated in insurance law. Second, settlement of claim disputes regarding claims for compensation from insurance is regulated in Article 4 paragraph (1) OJK Regulation Number 1/POJK.07/2014, and the third is in insurance laws and regulations in Indonesia, the settlement of insurance cases is handled by OJK and will ends with a court decision.

Utmost good faith principle in Indonesian insurance law as a legal reason to harm the insured party

The principle of utmost good faith has been recognized as one of the essential principles in insurance, and its practice in other countries has been fairly applied to both parties. It is suspected that this insurance principle in regulation and its implementation in Indonesia only burdens one unilateral. Therefore, this study aims to prove the allegation that the principle of utmost good faith favors only the insurer and its application in dispute resolution directed at harming the insured party. This study uses a case study approach, with five insurance legal cases in the form of court decisions as purposively selected objects. Qualitative analysis (content analysis) was then carried out to obtain data: data codification, data presentation, and conclusions/verification. The principle of utmost good faith is regulated by the following documents of Indonesian insurance law: Indonesian Commercial Law Code, Act No.7/1992 and Act No.40/2014. The results showed that the utmost good faith principle in several Indonesian insurance regulations is more in favor of insurance companies. The insurance company always utilizes Article 251 of the Indonesian Commercial Law Code or the utmost good faith principle as a shield to commit fraud, and refuses to fulfill its legal liability with the aim of harming the insured. AcknowledgmentsWe thank to the Ministry of Education, Culture, Research and Technology of the Republic of Indonesia for supporting and funding this research until it was completed on time.

URGENCY OF INSURANCE AGENT'S LEGAL RELATIONSHIP WITH INSURANCE COMPANY

This research aims to discover about and comprehend the legal framework that underpins the partnership between insurance agents and insurance companies. The research method used is a type of normative legal research. The type of approach used is a statutory approach and a conceptual approach. The laws used are the Civil Code, the Commercial Code, the Insurance Law and POJK.05/2013 concerning Insurance Products and Insurance Marketing. The results of this study revealed that the legal basis for the relationship between insurance agents and insurance companies is not expressly regulated in the Civil Code, Commercial Code, Insurance Law and Financial Services Authority (OJK) Regulations. The Insurance Law only provides a definition of insurance agents and insurance companies. As such, the legal relationship between insurance agents and insurance companies is not regulated. As a legal basis, the relationship between the insurance agent and the insurance company lies in the agreement made by the agent with the company. Thus, the agreement becomes the legal basis for the relationship between the insurance agent and the insurance company. Meanwhile, the legal relationship between an insurance agent and an insurance company is a contractual relationship or a relationship that is bound in an agreement.

The Role of Jasa Raharja Company in Providing Accident Guarantees for Traffic Victims of North Sumatra Province

PT Jasa Raharja (Persero) is a social insurance company that prioritizes services to the community, especially those who are victims of traffic accidents and general passengers. PT Jasa Raharja as a State-Owned Enterprise (BUMN) that provides basic compensation and protection to the community, especially to victims of accidents on public passenger transportation and road traffic. Based on Law Number 33 of 1964 concerning the Mandatory Passenger Accident Insurance Fund and Law Number 34 of 1964 concerning Road Traffic Accident Funds, apart from providing basic protection to victims of passenger and road traffic accidents, Jasa Raharja's main task is also to collect and manage funds. community to meet people about compensation rights. This study aims to determine the extent to which the role of PT Jasa Raharja (Persero) in providing insurance compensation for victims of traffic accidents and public transport passengers at the North Sumatra branch office has operated effectively and efficiently in accordance with Laws Number 33 and 34 of 1964.

Liability and Insurance in Maritime Autonomous Surface Ship (MASS) under the UK Legal System - The impact of new technologies and the interpretation thereof -

Emergence of new technologies in relation to a navigation of a vessel, from manned to unmanned status, will bring about fundamental changes to the traditional legal paradigm, which was established based on the presumption of human existence on board of a vessel. Similar changes are witnessed regarding motor vehicles and aircraft, but the unique nature of maritime affairs requires an independent analysis. This paper takes a particular interest in AI and cyber security in MASS and how the new technologies will likely be impacting the liability and marine insurance regime under the UK legal system. After a brief analysis of how UK laws and courts look at autonomous motor vehicles and aircrafts as a comparison, the introduction for Automated and Electric Vehicles Act 2018, a new legislation to regulate the UK motor insurance for automated vehicles, will follow. Liability issues in relation to AI under the UK legal system is addressed based on the analysis of the legal status of AI, with suggestions to bridge the gaps during the transitional period of this paradigm shift. Finally, as marine insurance is often times the name of the game in maritime affairs and marine casualties, the interpretation of current marine insurance law to be applicable to AI and cyber security is suggested. In short, the purpose of this paper was to comprehensively address the areas where the new technology would potentially have an impact on the MASS and what the issues would likely be from the UK legal perspective.

A retrospective cohort study of pediatric hospitalization due to dentoalveolar infection before and after a change in national health insurance

This retrospective cohort study aimed to examine trends in pediatric (0–18 years old) hospitalizations due to dentoalveolar infection, before and after the inclusion of pediatric dental care in Israel’s National Health Insurance Law. Data were collected from the medical records of one oral and maxillofacial surgery department. Data were compared between patients hospitalized during 2002–2010 (group A, n = 531) and 2011–2019 (group B, n = 381). The mean age of the cohort was 8 years. A dentoalveolar abscess was the main cause of hospitalizations in both groups. Group B exhibited a higher rate of previous dental treatment in general (p = 0.001), and of previous dental treatment for the tooth responsible for the infection (p = 0.03). The prevalent treatment during hospitalization combined intravenous antibiotics and extraction, with or without drainage (58.1%) for group A; and intravenous antibiotics and drainage (49.4%) for group B (p < 0.01). Dental care provided by the Israel’s National Health Insurance should focus not only on operative treatment but also on oral health promotion and caries prevention, to reduce hospitalizations due to dentoalveolar infections.

The insurance law in Cambodia: the economic modernization and the insurance contract law

The insurance law in Cambodia: the economic modernization and the insurance contract law

Dental Services Utilization by over 65 Years Old in Israel in 2020

To understand dental service utilization in the over-65 age group and to identify the main patterns and barriers to uptake of dental care after the 2019 expansion under the National Health Insurance Law to include dental benefits&lt;span dir="RTL"&gt; for the over-75 age group. Phone interviews with a random sample of 512 people over the age of 65 were conducted between February and April 2020. About half had visited a dentist during the previous year (an average of 2.9 visits) while 17% reported they had never visited one. Dental service utilization was lower among those living in the periphery, non-Jews and those who had difficulties covering their monthly expenses. Treatment cost was the main barrier to dental treatment, especially for those with difficulties in covering their monthly expenses. Despite the inclusion of dental treatment for people over the age of 75 in February 2019, the majority of respondents were unaware of this reform, thus the potential of the over-75 age group in lowering the cost barrier has not fully materialized.

STUDI KOMPARATIF TERHADAP PRINSIP-PRINSIP ASURANSI SYARIAH MENURUT HUKUM ISLAM DAN UNDANG-UNDANG NO. 40 TAHUN 2014 TENTANG PERASURANSIAN

This research is entitled a comparative study of the principles of sharia insurance according to Islamic law and Law No. 40 of 2014 concerning insurance. In its operations, in addition to complying with the legal terms of the agreement, insurance must also comply with the principles of insurance law. The purpose of these principles is to provide a framework within which all parties to a transaction will receive fair and proper treatment. This study aims to discuss the principles of insurance law in Islam and the principles of insurance in Law No. 40 of 2014 concerning insurance by conducting a comparative study which is expected to find similarities and differences. The research method used by the author is using descriptive analysis and comparative research, the data collection technique used is library research. The results of this study there are six principles of sharia insurance in Islamic law, namely; the Principle of Insurable Interest, the Principle of Utmost Good Faith, the Principle of Indemnity, the Principle of Subrogation, the Principle of Proximate Cause, and the Principle of Contribution. While the principles of sharia insurance contained in Law No. 40 of 2014 is the application of sharia principles in accordance with the DSN MUI fatwa, then regarding legal relations in insurance agreements that take provisions from KHES, and legal consequences in insurance which in case of disputes are resolved through mediation.

İSVİÇRE’DE SİGORTA SÖZLEŞMESİ HAKKINDA FEDERAL KANUN’DA YAPILAN (KISMİ) REFORM ÜZERİNE BİR İNCELEME

İsviçre’de sigorta hukukuna ilişkin kurallar iki temel kanunla düzenlenmiştir. Sigorta şirketlerinin kuruluşları, faaliyetleri ve denetimleri hakkındaki kurallar 2004 tarihli Sigorta Şirketlerinin Denetimine İlişkin Federal Kanun (İsvSDK) ile düzenlenmiştir. Sigorta sözleşmelerine ilişkin genel kurallar ise Sigorta Sözleşmesi Hakkında Federal Kanun’da (İsvSSK) yer almaktadır. 1908 tarihli İsvSSK, 1910 yılında yürürlüğe girmesinden bu yana birçok kez değişikliğe uğramasına rağmen varlığını bir asırdan beri sürdürmektedir. Kanun’un günümüz koşullarına uygun olmadığı değişik zamanlarda birçok yazar tarafından vurgulanmıştır. Son yıllarda Kanun’un değiştirilmesine yönelik birçok reform çalışması yapılmıştır. Bu çalışmalar sonucunda hazırlanan İsvSSK’da kısmı bir reform yapılmasına yönelik tasarı 19.07.2020’de yasalaşmış ve 01.01.2022 tarihinde yürürlüğe girmiştir. Bu çalışmada söz konusu kısmi reform incelenmesi amaçlanmıştır.

KÜÇÜK VE ORTA ÖLÇEKLİ İŞLETMELERE YÖNELİK TİCARİ ALACAK SİGORTASI SUNULMASINI İÇEREN DEVLET DESTEKLİ SİSTEMİN ÇALIŞMA USUL VE ESASLARINA DAİR TEBLİĞ’İN DEĞERLENDİRİLMESİ

Dünya genelinde KOBİ’ler, inovasyon, istihdam, büyüme, ekonomik çeşitliliğin ve dayanıklılığın sağlanmasında ülke ekonomileri için anahtar rol oynamaktadır. Ancak risk yönetiminde yetersizlik, krediye erişimde güçlük, yeterli insan kaynağı ve yönetim tecrübesinde yoksunluk, KOBİ’lerin sağlıklı büyümelerinde ve verimliliğinde engel teşkil etmektedir. Her ne kadar alacak sigortası şirketleri, alacak sigortası sağlamanın yanında, alacak yönetimi, müşteri bilgileri, vadeli satış limitleri belirleme ve alacak riskinin takip hizmeti verse de KOBİ’lerin bu seçeneği pek değerlendirmediği görülmektedir. AB çapında buna gerekçe olarak ise KOBİ’lerin primleri ek yük olarak görmesi, minimum yönetim standardı için getirdiği ek idari prosedürden kaçınması, ihmal veya hatalı güven, alacak sigortasının pek bilinmemesi ve şüpheli alacakların yaratacağı sonuçlarla ilgili farkındalık eksikliği gibi sebepler gösterilmektedir. Bu nedenle devletlerin sürece müdahale etmesi ve KOBİ’lere alacak sigortası temin edecek bir destekleme sisteminin kurulması gerektiği kabul edilmektedir. Emsal örneklerde ise devletlerin, sigorta şirketlerine reasürans sağlayarak bu desteği verdiği ve sigorta şirketlerinin sisteme dahil olmasını teşvik ettiği görülmektedir. Bu yolla primlerin düştüğü, idari prosedürlerin azaldığı, KOBİ’lerin ihtiyaç duyduğu yönetim ve bilgi desteğinin sağlandığı görülmektedir. Öte yandan, bankaların KOBİ alacaklarını şüpheli alacak olarak değerlendirmesi nedeniyle kredi vermekte isteksizliği de ticari alacak sigortasıyla aşılabilmektedir. Türkiye de sigorta kanununun 33/A maddesine istinaden Bakanlar Kurulu kararı ile sistemin kurulması öngörülmüştür. 24 Aralık 2018 Tarih Ve 30635 Sayılı “Küçük Ve Orta Ölçekli İşletmelere Yönelik Ticari Alacak Sigortası Sunulmasını İçeren Devlet Destekli Sistemin Çalışma Usul Ve Esaslarına Dair Tebliğ” ile de sistemin işleyişi düzenlenmiştir. Böylece Türkiye de KOBİ’ler için geç ama önemli bir adım atmış bulunmaktadır. Yapılan düzenlemeyle de KOBİ’lerin ticari alacak sigortasına erişmesinin önündeki engellerin kaldırılmaya çalışıldığı görülmektedir.

로보 어드바이저를 활용한 보험판매와 법적 과제

The environment surrounding the insurance industry is likely to become even more digital than nowadays. In particular, robo-advisors are expected to be used effectively in the insurance distribution channel. Although there is no legal definition for robo-advisors in the related insurance act in Korea. Traditional insurance distribution channels can use them as sales aids. In this case, the robo-advisor type is likely to be used as a product recommendation type and an information provision type. In light of the current technological development of robo-advisors, it is not possible to equate robo-advisors with AI insurance consultant. In this case, as examined in the examples of the United States, Australia, and Germany, if insurance intermediaries utilize robo-advisors to sell insurance products within existing legal systems, there will be problems in applying existing insurance law provisions. It should be noted that the same regulatory principles apply because there is no such rule. Considering that it is premature to establish a regulatory system for AI insurance distribution channels that make fully automated decisions without any human intervention, insurance sales channels utilizing robo-advisors should be considered as regulations for traditional distribution channels. The same regulations should be set. Considering this point, this paper defines robo-advisor as an algorithm-based ``automated online insurance product advisory device''. Also the paper proposed a plan to regulate this under the insurance industry regulation. On the other hand, this paper also considered measures to establish model standards for insurance distribution using robo-advisors and discipline them in the form of self-regulation. In addition, non-face-to-face sales and operator intervention are permitted with an algorithm-based system that evaluates customer opinions through algorithms and big data analysis using computer programs as an improvement plan for related acts and makes personal recommendations based on them. A proposal was made to prepare a provision to define it as an insurance product advisory device. In the case of this kind of regulation, in addition to fulfilling the duty of explanation imposed on insurance distribution channels under the existing legal system, the details of the duty of explanation to distribution channels that use robo-advisors should be determined in accordance with the principle of good faith. Therefor it is proposed in the paper to take measures for a plan to add within the scope of the obligation. Finally, regarding the judicial responsibility system, if liability arises due to incomplete distributions using robo-advisors, the person behind it will be held responsible for tortious acts associated with breach of obligations under the principle of good faith within the current legal system.

Social insurance payments and labour investment efficiency: A quasi-natural experiment

ABSTRACT This study exploits the passage of the 2011 Social Insurance (SI) Law in China to investigate how a labour protection regulation affects corporate labour investment efficiency (LIE). We find that labour-intensive firms invest more efficiently in labour after the SI Law. Our findings are robust to alternative measures, selection bias and endogeneity concerns. Overall, our findings show that labour protection regulations have a profound impact on corporate employment decision-making.

Is “Well-Paid Employment” Worth It? Evidence from Corporate Investment in China

ABSTRACT This study investigates the effect of employee compensation on corporate investment decisions using a sample of Chinese listed companies during the period 2007–2019. We find that the improvement of employee compensation competitiveness reduces the overall investment level, but improves the investment efficiency, which supports the capital-skill complementarity theory and the liquidity constraint theory, rather than the displacement theory. We use the social insurance law as a quasi-natural experiment, and the adjustment of the personal income tax rate as an instrumental variable to relieve the endogeneity concern. In addition, cross-sectional analysis and mechanism analysis show that employee compensation competitiveness can crowd out enterprise investment and improve investment efficiency by increasing liquidity constraints, thereby improving the quality of human capital and increasing innovation. Overall, this study provides insights into how employee compensation reduces corporate investment and increases corporate investment efficiency in developing countries.

Equiano's Shipwreck: Insurance, Risk and Peril in Plantationocene Oceans

Abstract: The 1767 shipwreck of the Nancy occupies a central place in Olaudah Equiano's Interesting Narrative (1789); as many scholars have noted, it is not only the literal centerpiece of the textbut also a foundational rhetorical moment central to Equiano's intertwining political and theological arguments. This essay offers a reading of the shipwreck scene as a politicized redeployment of one of the foundational concepts of maritime insurance law: the "perils of the sea." As maritime insurance emerged as a central institution for eighteenth-century capitalism, legal disputes repeatedly shaped and contested the category of "the perils of the sea": dangers considered to lie outside the scope of human agency, foresight, or fault. Most infamously, the "perils of the sea" lie at the heart of Gregson v. Gilbert , the legal case that resulted from the massacre aboard theslave ship the Zong . Through both his long career as a sailor and his personal involvement with abolitionist campaigns to publicize the Zong murders, Equiano would have been deeply familiar with the contours of maritime insurance law, and this essay reads the shipwreck scene as pivotally and critically engaged with the "perils of the sea" as a category shaping the emergence of financialized risk and its elision of other modes of thinking peril, vulnerability, and the contested border between human agency and environmental threat. While much recent work in the blue humanities has called for literary scholars to attend to the ocean as an irreducible materiality that challenges anthropocentric narrations of agency, this essay argues that the logic of maritime insurance, too, relied on the invocation of "the sea" as the sublime opposite of human agency, prudence, and riskmanagement. By engaging with the "perils of the sea" and its legal construction of "the sea" in opposition to human agency, Equiano detaches racialized distributions of risk, peril, and vulnerability from the naturalizing figuration of them as attributes of "the sea" and insists that risk itself be an object of abolition struggle.

Konieczność zastosowania kanonicznego zdarzenia utraty stanu duchownego dla wyrejestrowania osoby duchownej z ubezpieczeń społecznych. Glosa aprobująca do wyroku Sądu Apelacyjnego w Rzeszowie – III Wydział Pracy i Ubezpieczeń Społecznych z dnia 21 sierpnia 2013 roku, III AUa 468/13

The commented judgement concerns the need to apply the term of canon law, which is the loss of the clerical state to determinate deregistration from compulsory insurance security. It should be identified with the statutory deadline for resignation from the clerical state. The legislator recognized the autonomy of the Catholic Church and rightly applied the terms defined by it. In this respect, he defined both the group of clergy subject to insurance, the moment of coverage of insurance obligation, as well as the event that indicates deregistration from insurance. It is not sufficient for exclusion from insurance a unilateral declaration of resignation from clerical state or pastoral functions undertaken, as the appellant believes. They have no effect in the forum of canon law and have no consequences in social insurance law.

ISSUES OF LAW ENFORCEMENT IN INSURANCE RELATIONSHIPS: NEW TRENDS

The article pays attention to the legal nature of insurance protection and insurance services. Some problems of law enforcement in insurance legal relations are considered, in particular, in liability insurance for damage compensation. It is noted that the insurance legislation contradicts some provisions of civil law. Attention is paid to some aspects of law enforcement when bringing an insurer to civil liability. Conclusions are drawn about the need to amend insurance legislation, as well as proposals for reforming insurance law.

Labor unemployment insurance and bank loans

I investigate the influence of unemployment insurance (UI) benefits on the cost of bank loans by exploiting changes in state unemployment insurance laws as a source of variation in labor unemployment costs. The evidence shows that the cost of bank loans is significantly lower for firms headquartered in states with more generous UI programs. The relation between UI benefits and the cost of bank loans is more pronounced for firms that face higher unionization rates, are more labor intensive, or have a higher layoff propensity. These results are robust to controlling for loan characteristics, macroeconomic conditions, and borrower characteristics and using fixed effect regressions. I also find further evidence of a causal relation between UI benefits and the cost of bank loans through a difference-in-differences (DID) approach. Overall, the results suggest that the credit market evaluates workers' unemployment costs while approving and pricing loan contracts.