Study Of Insurance Interest

Although both insurance and gambling are aleatory conducts, their functions and efforts are totally different. Gambling tends to bring moral issues, endangers the stabilization of the society, and is forbidden by most of the countries. Insurance, on the other hand, can compensate the damages, disperse the risks, and is encouraged by all the countries. The reason why insurance can be distinguish from the gambling is because the emergence of insurance interest. Insurance interest is the fundamental content of insurance, its emergence fulfils the needs of the society and accelerates the development of the insurance.There have been a lot of points of views about insurance interest since the emergence of the concept of insurance interest. In the writer's opinion, all the political systems can only be recognized and understood when relate then to their background information and their functions. This paper starts right from this premise, and discusses about the functions of insurance interest, the definitions of insurance interest, the range of the application of insurance interest, who must have insurance interest, when must have insurance interest, and how insurance interest transfer. By discussing these issues, the writer's endeavor here is to find out the essence of insurance interest, and rebuild the system of the insurance interest theory.The article is divided into six chapters.The first chapter is the emergence of insurance interest and its functions. This chapter firstly points out that the concept of insurance interest used in this paper is referred to the concept which is used especially in insurance law. Secondly, this chapter introduces the history of insurance interest and some relative doctrines. Finally, it argues that the functions of insurance interest are distinguishing insurance from gambling, preventing moral issues, determining the range of compensation of the damages, and deciding who can enter into an insurance contract for his own benefits.The second chapter is the definition of insurance interest and relative concepts. Part one is the definition of insurance interest. Firstly, it introduces some definitions which are provided by different scholars. Then it introduces the definition which is provided by the insurance law of the mainland of China, and points out that it's based on the legal rights. Secondly, it introduces the emergence of factual expectancy test and its development in United States. The writer also put forward his own thoughts about reconsideration of factual expectancy test and points out that it should belong to insurance interest. Finally, the writer concludes that the insurance interest is the economic interest between policy holder and insurant and subject matter. It should not only include the legal right interests but also include factual expectancy interests which are not violated the law. Part two is the relative concepts. The writer argues about the differences between insurance interest and subject of insurance, subject of insurance contract, value of insurance which is a unique concept in insurance law in the mainland of China.The third chapter is about the range of application of insurance interest. Firstly, in introduces different views about the range of application of insurance interest both in academic fields and in legislative fields in the mainland of China, the district of Taiwan, Britain, America, Germany, France and Japan. Secondly, the writer compares different views and argues that the principle of agreement is better than the other theories. But it also has its own defects, and the writer provides some measures to improve it. Finally, this chapter analyses the defects of the rules about personal insurance in insurance law of the mainland of China and points out that it should adopt the principle of agreement.The fourth chapter is about who should have insurance interest and when should insurance interest exist. Firstly, it argues about the defects of the definition about insurant which is provided by the insurance law of the mainland of China, and points out that the insurant is not necessarily have the right of asking for compensation. When the policy holder and the insurant are not the same persons, who have the right of asking for compensation depends on whose interest does the insurance contract cover. Secondly, because the writer thinks that the insurance interest does not apply to personal insurance, so the arguments about when should insurance interest exist only includes the property insurance. The writer points out that insurance interest only have to exist when the damages occur.The chapter five is about the transfer of insurance interest. The instances when insurance interest transfers usually include inheritance, assignment and bankruptcy. It firstly introduces the relative statutes about transfer of insurance interest in the district of Taiwan. Secondly it discusses the effect of transfer of insurance interest on insurance contract and points out the defects of former insurance law rule 34. The writer argues that when the insurance interest transfers, the assignee should inherit both the rights and obligations of the insurance contract. And the assignee has to inform the insurer about the assignment. The chapter six is conclusion of this dissertation. It is the summation of all of the author's viewpoints on insurable interest.