Construction Of China's Legal System Catastrophe Insurance

As early as a decade ago, the related department in The People's Bank of China has begun studying the establishment of the Catastrophe Insurance system in China. Along with the frequent catastrophic events such as Wenchuan earthquake, the voice for the establishment of Catastrophe Insurance Fund becomes more strongly. Catastrophe insurance system is a kind of the risk of dispersion mechanisms, which as a set of social capital and dispersed natural disaster result in unaffordability to bear by natural or legal person, Facing catastrophic risk, and helping insured out of their plight as well as in the process of achieving social harmony, which takes on great pratical significance. It is different from commercial insurance badly, depending on the nature of the non-profit insurance, the state-owned insurance agencies, the insurance motive of public service, and insurance Source of funds allocated to the dominant countries, as well as the specificity of insurance coverage. At the same time, as a result of catastrophic insurance applied by means of insurance, the members of the community will save up some certain capital for dealing with catastrophe happened possibly or inevitably in future, which comes into being catastrophe insurance fund, then can obtain compensation through catastrophe insurance mechanism and the basic source of livelihood.This is similar to social insurance mechanism, so it has the legal nature of social security.The legal system for Catastrophe Insurance abroad is relatively perfect and mature, either the United States or Japan, the specific content of the system plays a very significant role in operation practically, and its institutional framework and content design give us great insight. In our country, we should also embark upon specialized catastrophe insurance legislation and set up specialized insurance agencies. Government, as the major investors to create a catastrophic insurance fund, which constitute Government reinsurance scheme to form the legal system for Catastrophe Insurance.At this stage under China's national conditions, it is not only of necessity to set up the legal system of insurance but also feasibility. It is no other than because of its necessity and feasibility, this dissertation will expatiate on this system specifically from five aspects: the first aspects is the establishment of catastrophe insurance agencies; the second is fund source for Catastrophe insurance payments; the third is insurance payment; the fourth is supervision of insurance; the fifth is legal responsibility for Catastrophe insurance, and it can be archived by the realization of the system.Besides foreword, the dissertation is divided into four parts; the specific content is as below: The first part, based on the definition and explanation for the Catastrophe and Catastrophe insurance, differentiate and analyses idiosyncrasy and difference with commercial insurance, and reveal the legal nature of the social security for Catastrophe insurance.The second part, based on study and analysis for legal system of Catastrophe insurance abroad, gain the inspiration correspondingly. Namely, we should also embark upon specialized catastrophe insurance legislation and set up specialized insurance agencies. Government, as the major investors to create a catastrophic insurance fund, which constitute Government reinsurance scheme to form the legal system for Catastrophe Insurance.The third part, mainly probe into the necessity and feasibility for setting up Catastrophe insurance system in our country. Adhering to the idea that the reality should be in accordance with the fact, as well as considering the status quo of our country's social life, then analyze the necessity to set up Catastrophe insurance system in our country; whereas our country's economic and social development, then reveal the practical feasibility to set up this system in our country at this stage.The fourth part, specifically design and constitute legal system for Catastrophe insurance, and expatiate on insurance agencies for Catastrophe insuranc;fund source for insurance payments; insurance payments; supervision of insurance as well as legal responsibility and ect,thus set up a complete legal system of catastrophe insurance system.