Marine Liability Insurance And Its Trend

Marine liability insurance which belongs to marine insurance and is a part of liability insurance is a general term of insurance which subject-matter insured is limited marine liability. The status of marine liability insurance is more and more important with the development of modern marine insurance. Comparing with the development of marine insurance, theoretical research and stipulation of law have fallen behind. Marine liability insurance and its trend is the subject of the author's study by the means of positive analysis and comparative law so that little contribution will be made to the development of theories in respect of marine liability insurance. Such basic issues as the parties and interested parties to liability insurance, liability insurance and the system of civil liability are under discussion on the basis of the general theory. The distinction between marine liability insurance and general insurance lies in that besides the commercial insurance company the P&I club is the underwriter who insure marine liability insurance. The commercial insurance companies mainly provide H&M insurance which cover collision liability. Now P&l club is the main underwriter of marine liability insurance. The author introduces the development of P&l club and the risks covered and analyses the present situation of marine liability insurance and the difficulties of law application to P&l club in our country. The application of ISM code significantly affects marine insurance. The author introduces the changes brought by the application of ISM code to commercial insurance and P&l club. In modern time, the development of marine liability insurance emerges three characters. This first is the emergence of new financial product. Because more and more interested parties participate in carriage of goods by sea and oceandevelopment, various bodies assuming liability in marine liability insurance come into force. The second is the broadly application of compulsory insurance. Compulsory insurance has been introduced in many fields as oil pollution and passenger transport in international society proceeding from treasuring life and circumstances. The third is the legal system of the third party's right against liability insurer which is the breach of privity of contract in traditional civil law as well as the trend of legislation on modern liability insurance. The author analyses the rational of the third party's against liability insurer and studies international convention and the stipulation of UK and US. The effect of "pay to be paid" clause is also discussed. The dissertation studies the stipulation on the third party's direct action in China, points out the shortcoming of article 97 in Special Maritime Procedure law of China, and generalizes the defense rights of insurer against the third party.