Insurance Contracting Obligation System

These unfair insurance transactions in insurance markets make us to reflect on the related law and regulations. The insured, most of them being insurance consumers, encounter many illegal trading means such as fraudulent information, misrepresentation, bad faith complaint about the insured's disclosure duty, all of which is regard to dealing information, and to which the information-supplying duty in the dealing course is the most effective answer. The duty of disclosure of the insured and the accounting duty of the insurers are information duty By comparing analysis, criterion analysis, economic analysis and history analysis, the dissertation discusses this information-supplying duty in the view of social fair dealing institution and the theory of contract law, and puts forward some suggestion to reformIn order to rationally construct the duty of information in insurance contract law, we should discuss the function of and the effective means of the function of the insurance contract law in the view of the social economic institution and of the general contract law theory, and then find out the nature and the rational function of the information-supplying institution. It is a technical necessity of insurance for the insured to provide insurers information related to risks, which insurers based on to make risk choice. Standard insurance terms and conditions are the basic technical means that ensure principle of consideration equilibrium. The regulation of standard clauses is an important subject of modern contract law that concerns with contract freedom and legal coercion. Duty of accounting is essentially a duty of information supplying in the process of contract construction It is the double information asymmetry that determines that both parties have duties of supplying information, which have economic rationality and accords with the basic principle of good faith. The information-supplying duty is the basic institution to protect fair dealing. The obligation about information in the dealing course changes the traditional principle to the modern principle of getting transaction information for both parties, and brings down the demands forprudent transaction to offer the other party qualification protection. We shall reconstruct the information supplying institution by introducing some new rules.The dissertation consists of six parts.Part one analyzes the subject of the dissertation and the view to discuss. These unfair dealings in insurance are regarding to dealing information the arm of the dissertation is how to regulate the information supplying-duty. The view in discussing is form the social fair dealing protect institution and in the general contract theory.Part two discuss the nature, source, and rationality of the information supplying-duty in the insurance contract construction course. The information-supplying duty includes the duty of disclosing of the insured and insurer's accounting duty, either of which has its particular connotation. Both kinds of duties are essentially pre-contract duty. The disclosing duty is an inherent special institution of insurance while the accounting duty is in essence the product of the development of pre-contract duty theory of general contract law. Information supplying duty is determined by the nature of insurance transaction and standardized insurance clauses, including liability-exemption terms, as well as disclosing duty are technical requirement to realize consideration equilibrium of insurance trading. Economical analysis of contract law shows information asymmetry is the source of unfair trading of insurance; hence it is necessary and reasonable to compel information-superiors to provide "non-productive fact information" to information-inferiors. The principle of good faith is the jurisprudential basis of apprising duty and accounting duty, but "maximal good faith" cannot be used to correctly understand and define information-supplying duty for its limitation and misleading effect. In view of the specialty of insurance transaction, maximal protec...