보증보험시장 개방의 효과분석 및 시사점

Abstract

This paper analyzes the effects and implications of guarantee insurance market opening to the general insurance industry on the consumers and market itself. It turns out that it has positive as well as negative effects. The positive effects include the improvement of the service quality, the enhancement of the competitiveness of the industry, and the enlargement of the market. And the negative effects comprise the performance deterioration of incumbant firms, the destabilization of the industry, the decrease of guarantee supply to individuals and small firms custmers (market failure) and the delay of reimbursement of public funds. And the effect on the insurance fees will differ over time. Considering the uniquness of characteristics of guarantee insurance compared to general insurance and expected effects of market opening, it is desirable that the market openig will be in the form of monoline and in a gradual way. Also the proper regulations to prevent the transfer of possible losses by the industrial firms to guarantee insurance firms are needed.