On The System Of Double Insurance

The system of double insurance plays an important role in the enforcement of the insurance industry. However, there is little item about double insurance in our nation's law system. The provisions of double insurance only arise in the item 41st of the new edition of"Insurance Law of PRC"and the item 225th of the"Maritime Law of PRC". The provision of double insurance isn't perfect regarding to the definition, character, contract effectiveness, inscape, compensate rule, applicability and extension of the double insurance. It is too simple to protect the legitimate rights and interests of the good insured and the insurers, and it needs to be amended. Therefore, the article discussed starting from the definition of the double insurance, refers to the legal provisions of foreign countries. Use the basic theory research method and the demonstration research method to investigate every aspects of double insurance adequately, so that we can improve the double insurance system. There are two kinds of definitions about double insurance: broad sense and narrow sense. The author combines the definition of the double insurance with its legislative intention, and then brings forward a brand new definition about double insurance by absorbing the reasonable parts from the broad sense definition and narrow sense definition. Double insurance is the insurance that the same insured signed several insurance contracts with different insurers about the same insurance object, the same insurance interest and the same insurance accident at the same time or in order, and the amount covered by these several contracts exceeds the insured value (or the liability limits), which leads to the possibility that the insurance indemnity amount exceeds the smaller one between the actual loss and the insurance value.In the last part of this article, the author put forward some suggestions about the exertion of double insurance in our practical environment. Considering the practical condition in our insurance industry, the author advances some practical suggestions from the insured attitude, the insurer attitude and the regulator attitude in order to improve the double insurance system. We hope that all the organizations cooperate with each other actively to improve our double insurance system gradually both in theory and in practice.