Duty to explain insurance products and the effect of violation under the Financial Consumer Protection Act

Dong-min Kim
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Abstract

In general, sales of insurance products are not only made in the form of conforming contracts that depend on terms and conditions, but also there is a risk of damage to the policy holder due to information asymmetry and incompatibility of status between the parties to the contract, and thus in order to improve the fairness and equity of contracts, various safeguards are being prepared for them. Among these, the most important protection device is the insurer's duty of explanation. Therefore, the Commercial Act and other special laws stipulate various obligations of explanation in order to protect policy holders when signing and transferring insurance contracts, and in particular, the obligation to explain terms and conditions and the obligation to explain insurance products are separately regulated. In other words, Article 638-3 of the Commercial Act and Article 3 of the Terms and Conditions Regulation Act give the insurer the duty to deliver and explain the terms and conditions, and the recently enacted Article 19 of the Financial Consumer Protection Act separately and specially imposes the duty to explain important details of insurance products. In this paper, while comparing and analyzing the relationship between these regulations, the obligation to explain insurance products under the Financial Consumer Protection Act was reviewed and the effect of the violation was considered. In particular, regarding the problem of the right to withdraw subscription and the right to terminate an illegal contract as an effect of violation of duty of explanation, legislative alternatives were sought, focusing on the following issues. First, after the duty of explanation under the Insurance Business Act was transferred to the Financial Consumer Protection Act, what characteristics the “duty to explain” of insurance products under the Financial Consumer Protection Act compared to the duty of explanation under the Commercial Act and the Contract Regulations Act were analyzed. And among the effects of violation of duty of explanation, the problem of the right to withdraw subscription and the right to terminate illegal contract was identified and a solution was derived. Second, it was examined what is the characteristics and differences in the exercise requirements and effects of “the right to withdraw subscription” and “the right to terminate illegal contracts” due to violation of the duty to explain insurance products under the Financial Consumer Protection Act compared to the legal effects of the general legal principles of the Civil Act, such as the right to withdraw, the right to cancel, and the right to terminate. In addition, in the application to insurance practice, what kind of collision problems occur between these regulations was examined, the root cause was identified, and improvement measures were prepared.
金融消费者保护法规定的保险产品解释责任及违反之后果
一般情况下,保险产品的销售不仅是以合同约定的形式进行的,而且由于合同当事人之间的信息不对称和身份不相容,存在给投保人造成损害的风险,因此为了提高合同的公正性和平等性,人们正在为此准备各种保障措施。其中,最重要的保障手段是保险人的解释义务。因此,《商法》等专门法律规定了各种解释义务,以保护投保人在签订和转让保险合同时的利益,特别是对条款和条件的解释义务和保险产品的解释义务分别进行了规定。也就是说,《商法》第638-3条和《条款规制法》第3条规定了保险人交付和说明条款的义务,而最近制定的《金融消费者保护法》第19条则单独规定了保险产品重要细节的说明义务。本文在比较分析这些法规之间关系的同时,对《金融消费者保护法》规定的保险产品解释义务进行了审查,并对其违反的影响进行了思考。特别是,对于作为违反解释义务的后果的撤销认购权和终止非法合同的权利问题,寻求立法替代方案,重点是以下问题。首先,在《保险业务法》的解释义务转移到《金融消费者保护法》之后,分析了《金融消费者保护法》下保险产品的“解释义务”与《商法》和《合同管理法》下的解释义务相比有哪些特点。在违反说明义务的影响中,明确了撤销认购权和解除非法合同的权利问题,并提出了解决办法。其次,考察了《金融消费者保护法》中因违反保险产品解释义务而产生的“撤回认购权”和“解除违法合同权”的行使条件和效力,与《民法》中一般法律原则(如撤销权、撤销权、终止权)的法律效力相比,有哪些特点和区别。此外,在应用到保险实践中,检查了这些法规之间发生了什么样的冲突问题,找出了根本原因,并制定了改进措施。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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