Unless otherwise agreed by the parties, an insurer's liability commences from the time when the initial premium has been paid.
Laws › Commercial Act › CHAPTER I COMMON PROVISIONS
Commercial Act — Article 656 (Payment of Premiums and Commencement of Liability of Insurers)
상법 제656조
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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