Studies On Ship Mortgages Insurance

As a relatively new insurance, Ship Mortgage Insurance is lack of academic study in a systematic and thorough level and abundant practical experience for the moment. However, the importance of this insurance in protecting the interest of ship mortgegees is being acknowledged with the development of ship mortgage finance. The author wrote this dissertation for the purpose of realizing the systematic study of this insurance and promoting the development of practice hereto.In this dissertation, firstly the author analyzed the necessity, concept, characteristics, nature, subject matter, insurable interest and insurable value of Ship Mortgage Insurance by the method of comparison, demonstration and history. Ship Mortgage Insurance belongs to the category of marine insurance. Its subject-matter insured is ship mortgage, its insurable interest is a security interest of preferential payment and its insurable value is the sum of credit guaranteed by ship mortgage.Subsequently, the author used the basic theory concerning marine insurance to study in detail the Mortgagee's Interest Insurance-Hulls and Mortgagees' Additional Perils (Pollution) Insurance on the basis of the terms of standard policies. In addition, the author analyzed the Mortgagees' Additional Perils (P&I) Insurance, Mortgagees' Pre-existing Insurance and Mortgage Rights Insurance to a certain extent.Considering that Ship Mortgage Insurance is a blank in Chinese insurance practice, the author tried to analyze the feasibility and necessity of practising this insurance in China. In the opinion of the author, China has satisfied the conditions to practise this insurance in the aspects of both legality and economy. Meanwhile, the current situation and future development of ship mortgage finance in China need this insurance to improve the system of ship finance. Therefore, The author believes that Ship Mortgage Insurance will be practiced sooner or later in China with the development of ship mortgage finance.