Filed Insurance Claim After Accident Following Job Change… Supreme Court Rules "Insurer's Termination Period Begins from Awareness of Violation, Not Accident Report Date"
The period during which an insurer can terminate a policy should be calculated from the point it becomes aware that the policyholder breached the duty to notify, the Supreme Court has ruled. Merely receiving an insurance claim does not constitute knowledge of such a breach, the court found. According to legal sources on Wednesday, the third division of the Supreme Court, presided over by Justice Oh Seok-jun, overturned a lower court ruling that had favored the bereaved family of the deceased, identified as A, in their insurance claim lawsuit against DB Insurance. The case was sent back to the Busan District Court for retrial. A had signed an insurance contract with DB Insurance in 2014 that would pay 150 million won ($109,000) in the event of accidental death. At the time, A reported his
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