Research On The Perfect Of Legal System Of Marine Insurance

Insurance Law of the P.R.C has been amended on 28 February 2009 and has gone to effect as of 1 October 2009. It makes a positive affect on the development of insurance market in our country. It also enriches the perfect and harmonization of legal system of marine insurance contract.The thesis, on the basis of comparing the 2002 Insurance Law,2009 Insurance Law and the China Maritime Code, by reference to the basic theories of marine insurance law, insurance law and contract law, according to the 1906 Marine Insurance Act, laws in some other countries and clauses of marine insurance contract, researches the issues that the legal subjects and defination of marine insurance contract, the conclusion, effection, assignment and revocation of marine insurance contract, utmost good faith principle, indemnity principle, insurance interest principle, liabiliy insurance and payment of indeminity. The underwriter analyzes the amended contents of Insurance Law and its affect on marine insurance. The author points out those provisions which are either duplicate or same, either reasonable or imperfect in China Maritime Code and the amended Insurance Law. Based on analyses of the reason, the underwriter suggests which provisions in China Maritime Code shall delete, which provisions shall modify and how to modify in accordance with the amended Insurance Law to assist the harmonious legal system of contract of marine insurance in China.Through detailed and thorough researches, the underwriter considers, in order to perfect the provisions in China Maritime Code and in accordance with the amended Insurance Law, insurance applicant, marine insurer, marine insurance contract concluded formally and the restrictive provisions for the revocation of marine insurance contract ect. shall be regulate in the legal system of marine insurance contract, while those regarding truthfully informing obligation, explanation obligation for insurer, subrogation, double insurance transfer of subject matter insured and limitation of action ect. shall be modified.