This research identifies certified customs brokers’ responsibilities and obligations based on legal interpretations of certified customs brokers’liability insurance, discusses the purpose and functions of the insurance system, its definitions, lim...
This research identifies certified customs brokers’ responsibilities and obligations based on legal interpretations of certified customs brokers’liability insurance, discusses the purpose and functions of the insurance system, its definitions, limitations, and the scope of indemnity, and provides policy implications by comparison and analysis through liability coverage endorsed by certified customs brokers versus by tax accountants, lawyers, and judicial scriveners.
This study was analyzed by literature review, a method to analyze prior research at home and abroad. A comparison analysis backed up the legal grounds regarding certified customs broker's and liability insurance in Korea, referring to the Certified Customs Broker Act and Certified Tax Accountant Act.
Improvement measures to address these systematic and management problems, this study suggests increased legal minimum premiums, clarified provisions in insurance coverage, optional insurance subscription of employed certified customs brokers, the establishment of organizations for dispute resolution, and qualification process in fixing insurance premiums, exclusion of customs professionals when incurring higher loss rates from coinsurance.
This research also suggests flexible insurance rates per the type of office, reduced or increased premium rates, more various optional coinsurance payments against accidents, compensation criteria appropriate to commission fees, customized corporate premium rates, extended insurance coverage.