The Legal Problems of the Coronavirus 2019 Insurance Contract (COVID-19)

Abstract

This research article aims to study 1) feature of The Coronavirus 2019 (COVID-19) insurance contract, 2) type of insurance contract under Section 861 of Civil Code comparing to Japan, Singapore, and Vietnam and 3) recommendation for the supervision of Office of Insurance Commission (OIC) on selling and signing the Coronavirus 2019 (COVID-19) insurance contract from insurance companies to the buyers. This research is documentary research by collecting the data from various types of documents such as textbooks, theses, Supreme Court Judgements, interpretation of insurance contracts, and internet. The research found that Coronavirus (COVID-19) insurance is a combination of a non-life insurance contract and a life insurance contract in one insurance policy. The Office of Insurance Commission (OIC) has approved life and non-life insurance companies to offer such insurance policy is regarded as a violation of Section 861 of Civil Code. If the insurance companies operate a business that violates such laws, they must be liable for punishments as stipulated.

Therefore, to prevent a law violation of the non-life insurance companies and life insurance companies, the researcher recommends that the companies should separate the non-life and life insurance coverage into diferent policies. In addition, the OIC, as the suvervisor of insurance companies, should announce the gudelines for the non-life insurance companies by allowing them to offer only medical expenses coverage or compensation for loss of income coverage by not exceeding the mentioned limit in the policy and the guidelines for the life insurance companies by allowing them to offer only medical expenses, compensation for loss of income, and death coverages by not exceeding the mentioned limit in the policy.