Research On Insurable Interest In Marine Cargo Insurance

This paper covers two legal issues of insurable interest. The first one is what's the relationship between the insurable interest in marine cargo insurance and that in liability insurance about marine cargo? The second is whether insurable interest in marine cargo insurance is a legal interest, or an economic interest?In addition to the Introduction and Conclusion, this paper consists of five chapters.Chapter 1 clarifies the definition of insurable interest, makes brief introduction of the development of the insurable interest and relevant theories, and then preliminarily puts forward that economic interest should be adopted by our marine cargo insurance legislation.Chapter 2 analyzes the peculiarity of insurable interest based on the definition and characteristics of marine cargo insurance. This chapter also lays the foundation for below discussion.Chapter 3 describes diverse manifestations of insurable interest in marine cargo insurance, differentiates between insurable interest and subject-matter insured, points the unity of subject-matter insured and insurable interest has an important influence on the insured's claim.Chapter 4 is a key section. Based on the difference of the insurable interest in marine cargo insurance and that in liability insurance about marine cargo, the author expresses personal understanding and problem-solving methods in connection with judicial confusion which caused by one practice that the party liable for marine cargo insures on the marine cargo.Chapter 5 is another key section, which reflects the relationship between insurable interest and insurance loss under three kinds of international trade, makes comparison between insurable interest and insurance loss under above-mentioned theories about insurable interest. Then the author puts forward again that economic interest is preferable, also provides two kinds of legislative technology for the adoption of economic interest.The final conclusion has two points. The first one is that insurable interest in property insurance and liability insurance need to be differentiated, so the party liable for marine cargo should not insure on marine cargo. The second one is the insurable interest in marine cargo insurance, which has its own peculiarity, should be deemed as a kind of economic interest, though legal interest is generally recognized under our "insurance law". So the issues about special insurable interest of marine cargo insurance can not be solved by the prevailing law. For this reason, the author proposed two solutions.