Research On Compulsory Maritime Insurance

With the rapid development and of maritime transport, marine insurance shows the tendency of becoming compulsory. The importance of Marine compulsory insurance was realized and then introduced by several international conventions.The theory of compulsory maritime insurance has not been totally developed. This writer analyzed the definition, nature and scope of application of compulsory maritime insurance.However, questions still arise when this system is put into practice, especially in the understanding of insurance parties (the insurer and the insured), exercising of the right of direct action, recognition of insurance certificates, acceptance and non-acceptance of insurers. This writer makes suggestions in order to solve the problems above. This writer demonstrated the legal framework to implementing the compulsory maritime insurance system.It is of great necessity for China to establish the system of marine compulsory insurance. This writer believes that it is also inevitable that the system of compulsory maritime insurance will be established in China. However, it depends on two factors: the development of the shipping economy, and the perfection of related law and regulations.