Study On The Rules Of International Law Applicable To Insurance Contracts

With the far-going of the degree of economic globalization and financial liberalization, the international insurance industry has been developed simultaneously, which functions as providing economic guarantee for the cross boarder commercial and civil intercommunion. Especially those insurance business, its insurance contract involving more than one foreign elements, and then, relating to more than one country's legal systems, have taken on a complication trend. For the difference in insurance laws of the concerned countries, applying which country's law will lead to distinct results of parties' right and duty, it consequentially occurs the need to select law legitimately from the concerned countries or some other law systems. International community urgently demand to form a series of comparatively comprehensive, systematic rule of law selection with the pertinence to international insurance industry, facing that global, regional and national's law application rule of international insurance contract are far from enough and perfect. In other words, in order that international insurance industry could exclude its confronted legal obstruction, develop smoothly and play its social economic role well, legal and insurance practitioner would simply actively research and practice the application rule to avoid and resolve law conflicts, and make certain the parties' responsibility.