The Principle Of Insurable Interest And The Application In Marine Insurance

This paper is to make a deliberate and systemic study on the principle of insurable interest and the application in marine insurance, clarify the controversial problems and provide theoretic suggestion for legislation and practice.The paper is divided into six parts. Part One is the introduction, including the causation of choosing the topic, the course of discussion and the significance of the subject. In Part Two, the author expatiates on some basic conceptions, including the history of the principle of insurable interest, the concept and characteristics of insurable interest, the standard of insurable interest determination, when and to whom it must attach. The core of dispute is the standard of insurable interest determination. Two different views are discussed with some classic cases and legislation of many different countries. In Part Three, the author emphasizes on the requirements of insurable interest in marine insurance and refutes some opponent opinions.In Part Four, the author discusses the feature and basis of insurable interest in marine insurance, which is classified into three main categories according to different kinds of subject insured. The author focuses on three problems which are full of dispute. The first one is the determination of the buyer's insurable interest in FOB or CFR sale before the goods passing the ship's rail at the loading port. The second is the determination of insurable interest in case of sellers or buyers in breach of contract. The last one is the determination of insurable interest in relying-on operation of the vessel.In Part Five, the author puts forward some constructive suggestions...