The Legal Questions About Marine Insurance Interest Transfer

As the old saying goes, "No interest, no insurance" . To the marine insurance law , the principle of insurable interest absolutely is one of the most important principles. It is a pity that our law of admiralty has not provided any principle of insurable interest. This principle is formulated by our insurance law, but not detailed. Under the complex situation of marine insurance legal relation, insurable interest determines the attribute and effect of legal relation. The problem of insurable interest transfer is critical in marine insurance law because its procedure is complicated. The article mainly talks about this problem expounding from the concept, attribution, effect, variety of insurable interest and from some insurable interest transfer problems usually met in practices.Besides the introduction and conclusion, there are four parts in this article. In the first part, the article explains what is the marine insurance interest after describing three doctrines of insurable interest. The second part talks about the attribution and variety of marine insurance interest. The three part is about the relation between the insurable interest and the effect of insurance contract. In the fourth part, the article analyses some legal questions about marine insurance interest transfer met in practices usually under the INCOTERMS of CIF, CFR, FOB.