Study On The Marine Insurer's Right On The Subject-matter Insured After Compensation

Subject to the principle of indemnity under an insurance contract, an insured can't acquire the indemnity more than his actual loss, i.e. the insured could not obtain excessive interest due to the occurrence of the risks insured. Accordingly, a marine insurer is entitled to acquire the other correspondence remedies of the insured, including the insurer's right on the subject-matter insured after paying the insured in accordance with the contract. But in the practice of marine insurance, there exist different viewpoints of the essence and the scope of the captioned right, which give rise to the occurrence of disputes. Especially, the scope of the obligation undertaken by the insurer who has taken over the ownership of the subject-matter insured usually becomes the core of the dispute.Started with the basic theory of indemnity and insurance subrogation, also with the concrete regulations of the corresponding codes combined, this thesis gives a detailed explanation on the marine insurer's right on the subject-matter insured after compensation. Based on analyzing the essence of the captioned right, by summarizing a series of cases, the author puts forward that we should analyses the captioned right with the basic theory of ownership, and the transferring of the ownership of the subject-matter insured from the insured to the insurer is the origin of the insurer's obligation, which might include oil pollution and wreck removal, etc. Meanwhile, the author points out that in order to realize the principle of indemnity veritably, we should abandon the orthodox theory of subrogation to the ownership, just with the subrogation to pure economic interest instead. At last, the author gives a dissertation on the influence of under insurance and increased value insurance to the captioned right, and the question of the marine insurer's right on the subject-matter insured under partial loss is also discussed.