Study On Legal Issues Concerning With Catastrophe Reinsurance

At the beginning of the 21st century, numbers of disasters affect our society. People have undergone an unquiet period. However, the development of economy, the advance of science and technology, the diversification of the methods of precaution and the tightening of the measures of disaster mitigation can not prevent the disaster take place. The post-disaster relief is the only way to cut loss. Insurance, which is the specific method to manage the risk, plays an important role in the management of catastrophe recent years. America, Japan, New Zealand and many other countries which are threatened by the catastrophe, have build their own Catastrophe Insurance system to avoid risk.Nevertheless, the catastrophe risk is enormous and concentrated, and the amount of lost is incredibly huge. Insurance companies always don't want to underwrite this kind of risk. However, considering of the commonweal of the Catastrophe Insurance, most of the countries use compulsory measures to push this institution. Catastrophe Reinsurance is one of the most effective instruments. After insurance companies underwrite the Catastrophe Insurance, they use the reinsurance system to diversify the risk. As a result, a numbers of regions share the responsibility.After the earthquake in Sichuan Province happened in 2008, with the proposing of the Chinese Government and the Insurance Regulatory Commission, in the Chinese Insurance and the academic circles, there is research fervor around the Catastrophe Insurance. However, just because of the vacancy of the Catastrophe Reinsurance, the system of Catastrophe Insurance in our country is hard to establish. For this reason, my paper chooses the aspect of the Catastrophe Reinsurance. With the research of basic legal issues, we discussed the method to establish the system of Catastrophe Reinsurance of China. This thesis includes 4 parts.In the first chapter, through the definition of catastrophe risk, we may draw the conclusion that the establishment of catastrophe insurance system is necessary. And the reinsurance is the essential presupposition and addition of the primary insurance. With the coordination of the Catastrophe Insurance and Reinsurance, the giant risk may safely be diversified.The second chapter is the core of this article. In this part, I analyzed the legal property, members of the legal relationship and other important legal issues of the Catastrophe Reinsurance contract through the aspect of the Insurance Law and the Contract Law, to establish the legal foundation of the catastrophe reinsurance.The third chapter introduced the Earthquake Insurance and Reinsurance system of Japan and New Zealand. Their experiences are worthy of learning. Recent years, in our country, the appearance of Earthquake Insurance in Jiujiang of Jiangxi Province and the popularization of Agriculture Reinsurance in Beijing have showed us the problems in our practice of Catastrophe Insurance and Reinsurance. In order to establish a system of reinsurance for Catastrophe Insurance, we must assure that with the legislation for this field , the Government plays a crucial role, and many other parts take part in this system.With the discussion of main parts'right and duty, this thesis gives advices to the designation of the structure of Catastrophe Reinsurance. In addition, the limits of liability, the catastrophe reserving, the securitization of catastrophe risk and the precaution of the disaster complement the system jointly.