scholarly journals An Obligation to Represent and Disclose Material Facts as a Good Faith in Life Insurance Contract

2017 ◽  
Vol 8 (4-1) ◽  
pp. 53-60
Author(s):  
Mokhamad Khoirul
Keyword(s):  
Life Insurance ◽  
Medical Records ◽  
Personal Data ◽  
Good Faith ◽  
Insurance Contract ◽  
Comparative Approach ◽  
Conceptual Approach ◽  
Exercise Habit ◽  
Personal Benefit ◽  
Fundamental Information

Abstract This study aims to analyze an obligation of explaining and revealing material facts and identify any kinds of violation of good faith in life insurance contract. It uses several approaches including statute approach, comparative approach, and conceptual approach. The result defines material facts as any kinds of facts the insurer needs in order to make decision whether accepting or objecting the possible risks assigned. The insurer needs to accurately and completely know the insured’s personal data and medical records, including disease suffered, smoking habits, and even an extreme exercise habit such as paragliding. Kinds of violation probably done by the insured can be in the form of (1) misrepresentation, which includes giving incorrect statement but not intentionally conducted (i.e., innocent) and providing incorrect explanation intentionally (i.e., fraudulent) due to personal benefit; (2) non-disclosure, which includes neither revealing the facts nor telling any fundamental information other parties need to know, not due to deliberateness but rather probably due to ignorance or innocence, and intentionally hiding particular facts in order to get personal benefits (concealment).

scholarly journals COVID - 19 AS A “SIGNIFICANT CIRCUMSTANCE” FOR RISK ASSESSMENT IN LIFE INSURANCE (IN AND AFTER THE PANDEMIC)

2021 ◽  
Author(s):  
Željka Primorac
Keyword(s):  
Risk Assessment ◽  
Health Status ◽  
Life Insurance ◽  
Personal Data ◽  
Severe Form ◽  
Insurance Contract ◽  
Hospital Treatment ◽  
Legal Norms ◽  
Legal Standards ◽  
The Right

The data on the health status of a policyholder represent a significant circumstance for risk assessment and concluding a life insurance contract, and are also legally relevant circumstances for exercising the rights from that contract. The author starts from a theoretical analysis of the perception of data on the health status of policyholders as personal data, comparing the right to confidentiality of such data with the duty to report them (before concluding a life insurance contract) in terms of reporting all circumstances relevant to the insurance risk assessment. In order to properly fulfil the obligation of pre-contractual nature, the paper analyses the legal norms governing this issue and also provides a comparative overview of the Croatian and German insurance legislation with special emphasis on the scope of health data that the insurer is authorised to require, the clarity of legal standards and legal insurance norms contained in the insurance questionnaires and the life insurance offer. Presenting the importance of COVID-19 infection and possible chronic consequences for human health, the author indicates the extent to which COVID-19 infection (mild or severe form of disease, possible need for hospital treatment) will have an impact on the design of new insurance questionnaires and the relevance of genetic testing results in the context of concluding future life insurance contracts.

ANALISIS PERBANDINGAN KEKUATAN MENGIKAT PRA KONTRAK DALAM HUKUM KONTRAK DI INDONESIA DENGAN HUKUM KONTRAK DI EROPA KONTINENTAL

2019 ◽  
Vol 7 (1) ◽  
pp. 55
Author(s):  
Rida Halimah , ◽  
Pranoto ,
Keyword(s):  
Civil Law ◽  
Good Faith ◽  
European Countries ◽  
Source Analysis ◽  
Comparative Approach ◽  
Modern Theory ◽  
Literature Study ◽  
Conceptual Approach ◽  
Law System ◽  
Principles Of Justice

<p>Abstract<br />This article aims to determine the Comparison of the Binding Strength of Pre-Contract in Contract Laws <br />in Indonesia with Contract Laws in European Countries. This research is prescriptive normative legal <br />writing using the source of legal materials, whether in the form of primary legal materials and secondary <br />legal materials. The technique of collecting legal materials in this research is by way of literature study <br />through the collection of legislation, books, and other supporting documents. In the writing of this law, the <br />authors use case approach, comparative approach and conceptual approach and using the technique of <br />legal source analysis by syllogistic method through deductive thinking pattern. Based on the results of the <br />research that the authors did, it was found that the contract law in Indonesia related to the pre-contract <br />arrangement is still unclear while in Europe it is clearer and more assertive, Indonesia tends to still follow <br />the classical theoretical view that good faith should be applied at the stage of contract implementation, <br />countries in Europe have embraced the modern contract theory’s view that good faith must already exist <br />in the pre-contract stage. Pre-contract is not specifically regulated in Indonesian legislation, especially in <br />the Civil Code the absence of regulation on pre-contract making the binding of preband contracts vague, <br />there is a prominent difference in the jurisprudence of pre-contract. The results of this study suggest that <br />the law of Indonesia more firmly in regulating the pre-contract should refer to European countries because <br />Indonesia and Europe have in common that is the civil law law system. Thus, although Indonesia does <br />not specifically have written rules in legislation but Indonesia can expressly decide on pre-contract based <br />on the principles of justice and trust.<br />Keyword: Good Faith; Classical Theory; Modern Theory; Pre-contract.</p><p>Abstrak<br />Artikel ini bertujuan untuk mengetahui Perbandingan Kekuatan Mengikat Pra kontrak Dalam Hukum <br />Kontrak  Di  Indonesia  Dengan  Hukum  kontrak  di  Negara-negara  Eropa.  Penelitian  ini  merupakan <br />penulisan hukum normatif yang bersifat preskiptif dengan menggunakan sumber bahan-bahan hukum, <br />baik yang berupa bahan hukum primer dan bahan hukum sekunder. Teknik pengumpulan bahan hukum <br />dalam penelitian ini adalah dengan cara studi kepustakaan melalui pengumpulan peraturan perundang-<br />undangan, buku, dan dokumen lain yang mendukung. Dalam penulisan hukum ini, penulis menggunakan <br />pendekatan  kasus,  pendekatan  komparatif  dan  pendekatan  konseptual  serta  menggunakan  teknik <br />analisis sumber hukum dengan metode silogisme melalui pola pemikiran deduktif. Berdasarkan hasil <br />penelitian yang penulis lakukan, ditemukan bahwa Hukum kontrak di Indonesia terkait pengaturan pra <br />kontrak masih belum jelas sedangkan di eropa sudah lebih jelas dan lebih tegas, Indoesia cenderung <br />masih mengikuti pandangan teori klasik bahwa itikad baik harus diterapkan pada tahap pelaksanaan <br />kontrak sedangkan pada negara-negara di Eropa sudah menganut pandangan teori kontrak modern <br />yakni itikad baik harus sudah ada pada tahap pra kontrak.. Pra kontrak tidak diatur secara khusus dalam <br />peraturan perundang-undangan di Indonesia, khususnya dalam Kitab Undang-Undang Hukum Perdata <br />(KUH Perdata) tidak adanya pengaturan mengenai pra kontrak membuat kekuatan mengikat pra kontrak <br />menjadi samar, terdapat perbedaan yang menonjol dalam yurisprudensi mengenai pra kontrak. Hasil <br />penelitian ini menyarankan agar hukum Indonesia lebih tegas dalam mengatur pra kontrak sebaiknya <br />mengacu pada negara-negara Eropa karena Indonesia dan Eropa mempunyai kesamaan yakni menganut <br />sistem hukum civil law. Dengan begitu meskipun Indonesia tidak secara khusus memiliki aturan tertulis <br />dalam perundang-undangan namun Indonesia bisa secara tegas memutuskan mengenai pra kontrak <br />dengan berlandaskan asas keadilan dan kepercayaan.  <br />Kata Kunci: Itikad Baik; Teori Klasik; Teori Modern; Pra kontrak</p>

scholarly journals Good Faith in Life Insurance Contract by Indonesian Court

2017 ◽  
Vol 3 (1) ◽  
pp. 49
Author(s):  
Mokhamad Khoirul Huda
Keyword(s):  
Life Insurance ◽  
Good Faith ◽  
Insurance Contract ◽  
Full Understanding ◽  
Insurance Contracts ◽  
The People ◽  
Obligation To Inform

This paper reviews both the interpretation of good faith and its implementation by the Court in terms of life insurance contracts. The principle of good faith in life insurance contracts was under the provision of the Article 251 Wet Boek van Kophandel which assigned the obligation of good faith on the insured. Based on the context of its historical and systematical interpretation, the obligation of good faith should be on both sides, the insurer and the insured. The insured had an obligation to inform any material facts and the insurer had to investigate those all facts. Until recent days, however, judges in all levels of Court did not have any shared and full understanding on the interpretation of good faith in life insurance contracts. As the result, many Courts were frequently inconsistent with each other. Hence, the sense of fairness the people perceived from the court verdict was not achieved.

scholarly journals MENCIPTAKAN ITIKAD BAIK YANG BERKEADILAN DALAM KONTRAK ASURANSI JIWA

Yuridika ◽  
2014 ◽  
Vol 29 (2) ◽  
Author(s):  
Zahry Vandawati Chumaida
Keyword(s):  
Life Insurance ◽  
Good Faith ◽  
Insurance Contract ◽  
Insurance Claim

An insured who bind themselves to the insurer to protect his life by taking life insurance, of course, will conduct the closing of the contract of insurance agreements. To close this insurance contract the insured is deemed very essential to peruse the terms and conditions and the rights and obligations that will he get. In many cases it is turned to be extremely detrimental to the insured party when related to the contract of insurance. This is due to a lack of good faith on the part of the insurer to pay insurance claim filed by the insured or beneficiary. Instead, the insured is required to execute an agreement in good faith even at the beginning of the insurance contract the insured has been burdened insurance for acting in good faith.Keywords: contract, good faith, life insurance.

scholarly journals KLAUSULA ASURANSI KEMATIAN PADA AKAD KREDIT KPR SUBSIDI DALAM KITAB UNDANG-UNDANG HUKUM DAGANG

2021 ◽  
Vol 5 (1) ◽  
pp. 173
Author(s):  
Yandri Radhi Anadi
Keyword(s):  
Data Collection ◽  
Life Insurance ◽  
Research Method ◽  
Home Ownership ◽  
Primary Sources ◽  
Comparative Approach ◽  
Legal Research ◽  
Conceptual Approach ◽  
Mortgage Credit ◽  
Credit Agreement

 The soul of a person can be insured for the needs of the person concerned, both for the duration of his life and for the time specified in the agreement. everyone who lives faces the risk of his own life, because he does not know when he will die. The risk suffered can be in the form of damage, loss or loss, resulting in efforts to avoid and transfer risks to the community through the subsidized KPR program. For banks, the death of a debtor is one of the risks that arise in providing credit. In writing, there are problems being studied, namely, how is the implementation of death insurance in the subsidized MORTGAGE credit agreement and what is the mechanism of death insurance claims for subsidized mortgages. In this research, the writer uses a legal research method which is normative juridical. This study uses a statutory approach, conceptual approach, and a comparative approach. The source of legal materials in this research uses primary sources of legal materials and sources of secondary legal materials. For data collection techniques used are literature review.Keywords: Life Insurance, Subsidized Home Ownership LoansJiwa sesorang dapat diasuransikan untuk keperluan orang yang berkepentingan, baik untuk selama hidupnya maupun untuk waktu yang ditentukan dalam perjanjian. setiap orang yang hidup menghadapi resiko atas hidupnya sendiri, sebab ia tidak mengetahui kapan ia akan meninggal dunia. Resiko yang diderita dapat berupa kerusakan kerugian atau kehilangan, sehingga timbul upaya untuk menghindari dan mengalihkan resiko kepada masyarakat melalui program KPR subsidi. Bagi bank dalam meninggalnya debitur adalah salah satu resiko yang timbul dalam pemberian kredit. Dalam penulisan terdapat permasalah yang dikaji yaitu, bagaimana implementasi asuransi kematian dalam akad kredit KPR subsidi dan seperti apa mekanisme klaim asuransi kematian pasa KPR subsidi. Dalam penelitian ini penulis menggunakan metode penelitian hukum yang bersifat yuridis normatif. Penelitian ini menggunakan pendekatan perundang-undangan, pendekatan konseptual, dan pendekatan perbandingan. Sumber bahan hukum dalam peneitian ini menggunakan sumber bahan hukum primer dan sumber bahan hukum sekunder. Untuk Teknik pengumpulan data yang digunkan adalah telaah Pustaka. Implementasi pemberian asuransi kematian Kredit Kepemilikan Rumah (KPR) subsidi, para pihak antara penanggung dan tertanggung harus memperhatikan hal-hal dasar yang dimana sesuai dalam perjanjian serta Mekanisme prosedur klaim asuransi kematian KPR subsidi sama dengan prosedur klaim asuransi jiwa pada umumnya.Kata Kunci: Asuransi Jiwa, Kredit Kepemilikan Rumah Subsidi

scholarly journals The IFRS 17 contractual service margin: a life insurance perspective

2021 ◽  
Vol 26 ◽  
Author(s):  
W. Yousuf ◽  
J. Stansfield ◽  
K. Malde ◽  
N. Mirin ◽  
R. Walton ◽  
...  
Keyword(s):  
Life Insurance ◽  
Market Value ◽  
Financial Statements ◽  
Insurance Contract ◽  
Accounting Standard ◽  
Insurance Contracts ◽  
Ifrs 4 ◽  
Insurance Perspective ◽  
To Come

Abstract IFRS 17 Insurance Contracts is a new accounting standard currently expected to come into force on 1 January 2023. It supersedes IFRS 4 Insurance Contracts. IFRS 17 establishes key principles that entities must apply in all aspects of the accounting of insurance contracts. In doing so, the Standard aims to increase the usefulness, comparability, transparency and quality of financial statements. A fundamental concept introduced by IFRS 17 is the contractual service margin (CSM). This represents the unearned profit that an entity expects to earn as it provides services. However, as a principles-based standard, IFRS 17 results in entities having to apply significant judgement when determining the inputs, assumptions and techniques it uses to determine the CSM at each reporting period. In general, the Standard resolves broad categories of mismatches which arise under IFRS 4. Notable examples include mismatches between assets recorded at current market value and liabilities calculated using fixed discount rates as well as inconsistencies in the timing of profit recognition over the duration of an insurance contract. However, there are requirements of IFRS 17 that may create economic or accounting mismatches of its own. For example, new mismatches could arise between the measurement of underlying contracts and the corresponding reinsurance held. Additionally, mismatches can still arise between the measurement of liabilities and the assets that support the liabilities. This paper explores the technical, operational and commercial issues that arise across these and other areas focusing on the CSM. As a standard that is still very much in its infancy, and for which wider consensus on topics is yet to be achieved, this paper aims to provide readers with a deeper understanding of the issues and opportunities that accompany it.

Protecting privacy to protect mental health: the new ethical imperative

2019 ◽  
Vol 45 (9) ◽  
pp. 604-607 ◽  
Author(s):  
Elias Aboujaoude
Keyword(s):  
Mental Health ◽  
Electronic Medical Records ◽  
Psychological Health ◽  
Medical Records ◽  
Personal Data ◽  
Psychological Development ◽  
Clinical Implications ◽  
Patient Relationship ◽  
Ethical Imperative ◽  
The Individual

Confidentiality is a central bioethical principle governing the provider–patient relationship. Dating back to Hippocrates, new laws have interpreted it for the age of precision medicine and electronic medical records. This is where the discussion of privacy and technology often ends in the scientific health literature when Internet-related technologies have made privacy a much more complex challenge with broad psychological and clinical implications. Beyond the recognised moral duty to protect patients’ health information, clinicians should now advocate a basic right to privacy as a means to safeguard psychological health. The article reviews empirical research into the functions of privacy, the implications for psychological development and the resigned sentiment taking hold regarding the ability to control personal data. The article concludes with a call for legislative, educational and research steps to readjust the equilibrium between the individual and ‘Big Data’.

scholarly journals PERHITUNGAN PREMI ASURANSI JOINT LIFE DENGAN MODEL VASICEK DAN CIR

2019 ◽  
Vol 8 (3) ◽  
pp. 246
Author(s):  
I MADE WAHYU WIGUNA ◽  
KETUT JAYANEGARA ◽  
I NYOMAN WIDANA
Keyword(s):  
Stochastic Process ◽  
Interest Rates ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Company ◽  
Vasicek Model ◽  
Cir Model ◽  
Premium Payment ◽  
Premium Price

Premium is a sum of money that must be paid by insurance participants to insurance company, based on  insurance contract. Premium payment are affected by interest rates. The interest rates change according to stochastic process. The purpose of this work is to calculate the price of joint life insurance premiums with Vasicek and CIR models. The price of a joint life insurance premium with Vasicek and CIR models, at the age of the insured 35 and 30 years has increased until the last year of the contract. The price of a joint life insurance premium with Vasicek model is more expensive than the premium price using CIR model.

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