지수보험의 특성에 따른 법적·규제적 검토와 모범규준(Best Practice)의 제안
Review of Index Insurance from Legal & Regulatory Perspectives and Recommendations for Best Practices
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초록
본 논문은 지수보험의 특성과 발전 가능성, 그리고 법적·규제적 측면에 대해 논의한다. 자연재해와 기후변화에 따른 리스크가 증가함에 따라, 기존의 전통적인 보험상품은 이를 충분히 보장하지 못하는 경우가 많아 새로운 위험 관리 수단으로 지수보험이 주목받고 있다. 지수보험은 기상 데이터 등을 기반으로 사전 정의된 지수에 따라 손해를 보상하는 형태로, 특히 아프리카 및 개발도상국에서 자연재해에 대한 프로텍션 갭을 해소하는 데 중요한 역할을 하고 있다. 본 논문은 지수보험의 발전 배경과 기술적 진보, 그리고 그 법적·규제적 과제를 분석하며, 향후 보험 산업에서의 혁신적 가능성을 제시한다. 또한, 지수보험이 기존 보험 상품과 명확히 구별되는 금융상품으로 자리매김하기 위해서는 법적·기술적 문제, 특히 'Basis Risk'와 피보험 이익의 존재 여부 등을 해결해야 한다는 점을 강조한다. 향후 지수보험의 확대와 성공적인 도입을 위해서는 다양한 전문가들이 협력하는 규제 샌드박스 방식의 접근이 필요하며, 지수보험 도입의 연착륙을 위해 규제적, 법률적 관점에서 지수보험을 심도 있게 고려하는 노력이 선행되어야 지수보험이 안전하고 신뢰할 수 있는 금융 상품으로 발전할 수 있을 것이다.
Abstract
This paper discusses the characteristics, potential for development, and the legal and regulatory aspects of parametric insurance. With the increasing risks posed by natural disasters and climate change, traditional insurance products often fail to provide adequate coverage, which has led to growing attention on parametric insurance as a new risk management tool. Parametric insurance compensates losses based on predefined indices derived from weather data, and it plays a crucial role in addressing the protection gap, particularly in Africa and developing countries, where natural disasters are often not sufficiently covered by conventional insurance. This paper analyzes the background of parametric insurance development, technological advancements, and the legal and regulatory challenges it faces, while highlighting the potential for innovation within the insurance industry. It also emphasizes the need to resolve legal and technical issues—particularly "basis risk" and the existence of insurable interest—for parametric insurance to firmly establish itself as a distinct financial product from traditional insurance. Finally, the paper suggests that the successful expansion and implementation of parametric insurance will require a regulatory sandbox approach involving collaboration among various experts. Moreover, a thorough consideration of parametric insurance from a regulatory and legal perspective is necessary for a smooth introduction and transition, ensuring that it evolves into a safe and reliable financial product.
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