The appeal is dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined.

1. Regarding ground of appeal No. 1

A. The term “accident” refers to an uncertain accident that specifies the insurer’s obligation to pay insurance proceeds in an insurance contract. As such, what is the insurance accident in a guarantee insurance policy ought to be determined by taking into account the specific contents of the insurance clause included in the contract and the insurance clause cited in the insurance clause and the main contract.

(2) In the event that the insured period of the surety insurance policy is set, the insurer is liable for the insurance contract only when the insured event occurred within such period. However, even if the purpose of the surety insurance contract is to compensate for damages incurred due to the policyholder’s failure to perform the defect repair obligation for the defect that occurred within the warranty period of the main contract, if the warranty insurance period is set the same as the warranty period of the main contract, barring special circumstances, it is reasonable to interpret the warranty insurance contract as the warranty period of the main contract, namely, for the defect that occurred within the warranty period of the main contract, even if the insured event occurred within the warranty period of the main contract after the expiration of the warranty period, it is reasonable to interpret the warranty insurance contract as the contract with the insurer liable for the defect that occurred within the warranty period of the main contract.

(See Supreme Court Decision 2000Da3897 Decided May 29, 2001 and Supreme Court Decision 2008Da31874 Decided August 21, 2008). (B)

Comprehensively taking account of the adopted evidence, the lower court concluded each of the instant guarantee insurance contracts between the new construction company (hereinafter referred to as “new construction”) and Pyeongtaek Construction Co., Ltd. (hereinafter referred to as “Masan Construction”) with the Defendant for one year from May 23, 2007, which is the same as the defect warranty period of the main contract, and for two years from May 23, 2007, for three years, five years, and ten years from the Defendant.