On The Principle Of Insurable Interest Exceptions Apply

The traditional principle of insurance interest requires an applicant shall have an insurable interest in the subject matter of the insurance. Such principle plays a very important role in resolution of contractual disputes. But with economic development, the insurance market forwards more urgent demands to the traditional principle of insurance interest. So it is very necessary to research on exceptions for principle of insurance interest.Study of the exceptions of the principle is not a disavowal of the principles of insurance interest, but the amendment to make it more perfect. Mastery of exceptions should be modest, and adapt to the conditions of its limitations. In the property insurance, the exception includes:voluntary service, gift, waiver and estoppel, the transfer of subject-matter insured, marine insurance contract. More specifically, voluntary service is a result of acts of mutual assistance between people. In order to encourage good practices, managers can be insured property of others, without having an insurable interest. If the policy holder purchases the insurance for others' property in order to give a present, the insurance contract should be considered valid and do not need to request the policy holder to have the insurance interest. The system about waiver and estoppel should be used in exceptional situations. If the insurernew that the policy holder does not have the insurance interest but works out the insurance contract with it, insurers may not use this as a defense and argue that the contract is invalid. Subject-matter insured transferred, the transferee made following the suspension of rights and obligations of insurance contracts:This situation can also become one of the exceptions. Meanwhile to avoid the insurer evading the liability of compensation, we should not allow the insurer to make the agreement in addition in the insurance clause. Based on the special nature of marine insurance, maritime trade buyers and sellers of goods who do not have insurable interest against the principle of insurable interest restrictions.China's October 1,2009 implementation of the "The People's Republic of China Insurance Law", amended the terms of property insurance interest, " The assured must have an insurable interest in the subject-matter insured at the time of the loss. " This provision can meet the needs of today's insurance market, but it does not help prevent gambling and moral hazard. Therefore this article argues that generally we should insist the principle "policy holder of property insurance has the insurance interest", at the same time, provide exceptions to this principle. In this way, it can be active in the insurance market, but also can prevent gambling and moral hazard.In life insurance, qualitative and the quota is very difficult to the insurance interest, and it is difficult to make restrictions on compensation function. At the same time, our country is one has the mainland legal system tradition country. Because of the legal traditions and legislative science, we should abandon the application of the principle of insurable interest in life insurance. We should learn from the Agreement Principle:The policy holder works out the insurance contract by other people's life or physical object, must be approved by the written consent of the insured person and confirm the insurance amount, otherwise the contract is invalid. After the establishment of insurance contracts, the beneficiary transfers the insurance money request power to the third party, either to insurance money request power hypothesis mortgage, either change beneficiary,must pass through the insured written consent. The insured person is totally capacity for civil conduct, when parents were taking out insurance for their minor children, not included.