Research On The Legal Issues Of Double Insurance

Double insurance is the derivative of indemnity principle which is the basic insurance principle. Its purpose is to prevent applicant obtaining the compensation surpassing the actual damage and to avoid occurring moral danger. Its importance goes without saying. How to protect the double insurance'constitution, the scope of application and legal effect in order to manifest the indemnity principle appropriately? It becomes the important topic to consummate the double insurance.The double insurance is called duplicated insurance which opposites to the simple insurance. It usually means applicant exerts the same insurance subject matter, the same insurance interest and the same accident in the same insurance limitation to conclude the insurance contracts with two more insurers. Its established goal lies in maintaining the indemnity principle and the biggest goodwill principle as to prevent moral peril. The double insurance concept has both broad sense and narrow sense in various states'legislation. The distinctive key lies in narrow sense of double insurance in which exceeding sum insurance must be the necessary element. However, broad sense of double insurance does not need exceeding sum insurance. This article is suggested to adopt the concept of double insurance in broad sense. Thus, the legislative aim for double insurance lies in not only forbidding insurant to obtain the improper benefits while occurring exceeding sum insured in duplicated insurance but also preventing insurant as for recompensation to obtain improper benefits through regulating double insurance. Therefore, it...