Where a loss to be borne by an insurer has occurred against the subject matter insured, the insurer shall not be exonerated from its liability to compensate for the loss already incurred, even though the subject matter has been subsequently destroyed by the occurrence of an event not covered by the insurer. <Amended by Act No. 1212, Dec. 12, 1962>
Laws › Commercial Act › SECTION 1 Common Provisions
Commercial Act — Article 675 (Liability for Compensation in Cases of Destruction of Subject Matter after Occurrence of Perils Insured against)
상법 제675조
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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