On The Insurable Interest Of Marine Cargoes' Insurance

Referring to the relevant provisions of insurable interest in MARINE INSURANCE ACT, 1906, combining with scholars' views and the author's views and the defects and shortages of provisions in respect of insurable interest in the Insurance Law of PRC and the Maritime Code of PRC, this article analyzes the concept and the form of expression of marine cargoes' insurable interest, the person who should have the interest of marine cargoes' insurable, the correspondence relation between the person who should have the interest and the subject matter of marine insurance and the quantum of interest of marine cargoes insurance, it puts forward some legislation suggestions to these matters. Meanwhile, it analyzes the relation between insurable interest and loss of cargoes. It sets forth the legislation suggestion to the relation between insurable interest and the validity and assignment of contract of marine cargoes insurance, compares and analyzes the relations among the assignment of insurable interest, the assignment of the subject matter of marine cargoes insurance and the assignment of contract of marine cargoes insurance. According to the provisions of the existing laws of China , considering the practice of foreign trade, this paper analyzes to whom the interest should attach between the buyer and seller. At last, this article analyzes to whom the interest should attach in the case of exiting foreign trade agency.