Automobile Consumption Loan Guarantee Insurance

As a new law system, the bond insurance is triggering disputes both in theory and in practice after its first appearance in our country. So it's necessary to do some research into this new thing. In first part, the author analyses the shortcomings of guarantee system when operating in practice. The guarantee supplied by guarantors is free of charge. Guarantors are not professional and sometimes they're not able to pay the guaranteed debt. To make up this disadvantage, the bond insurance system and insurance system— the bond insurance system come to be a fact.What follows is the introduction of some basic ideas of the bond insurance, including the concept, characteristics and classification of the bond insurance. The author pays much attention to the classification of the bond insurance. For example, the bond insurance can be classified as fidelity bond insurance and truth bond insurance. Fidelity bond insurance mainly includes pointed bond insurance, position bond insurance, extended bond insurance and excess bond insurance. Truth bond insurance mainly includes contract bond insurance, administration bond insurance, justice bond insurance and license bond insurance.Based upon the clear definition of the fundamental theory of bond insurance, the latter part of this article mainly discusses vehicle consumption loan bond insurance.In the second part of the article, the author mainly introduces the concept of the vehicle consumption loan bond insurance. The debtor (purchaser) pay insurance fee to an insurer, when the debtor doesn't pay back the loan and its interest according to the contract of vehicle consumption loan and cause the loss of the loaner, the insurer will take the compensation duty. After that, the author discusses the two characteristics of the vehicle consumption loan bond insurance, the credit factor of the danger and the qualification factor of the insurer.As to the character of the vehicle consumption loan bond insurance, the author analyses every kind of view about it in part three. And based upon the theoretical and practical views, the author concludes that as the bonds of the guarantee system and insurance system, the vehicle consumption loan bond insurance system is useful to guarantee the insured to realize his debt, however it is more like a property insurance system and has the functions of the guarantee. The author proceeds with the difference between the vehicle consumption bond insurance contract and the guarantee contract Though there're many similarities between them, they're totally different in some aspects such as subjects of the contract, free or not free contract, characters of responsibility, modes of responsibility, scopes of responsibility, rights to defend, sources of responsibility property and the duration of the rights. Then, this article analyses the credit insurance that is similar to the vehicle consumption loanbond insurance and points out that while they have some similarities, they're different in subjects of the contract and scopes of the responsibility and so on.In the fourth part, the author mainly introduces the subject of the vehicle consumption loan bond insurance contract. She points out that the subject is necessary to this kind of contract. The subject contains parties of the contract and those related to the contract. The author thinks that the insured of the contract is not the party of the contract. The parties of the contract are the policyholder and the insurer. When discussing the parties of the contract, this article mainly looks into the qualification of the insurer and the policyholder and their rights and duties to discuss the statuses of the subjects. The policyholder has the power to modify and terminate the contract and he has the duty to tell the truth, to pay insurance fee, to notify and to join the sequent motor vehicle loss insurance, the third party responsibility insurance, robber insurance and self-ignite insurance. The insurer has the right to receive insurance fee and to terminate the contract. His duty is to explain the insurance articles, to pay compensation and repay the termination fee. Besides, this part discusses the qualification, rights and duties of the insured.In this part of the article, two extremely disputed questions are discussed. The first one, does the debtor have insurance interest in the vehicle consumption loan bond insurance contract? The second one, in the contract above, is the third party who guarantees the debt able to be a policyholder? This part also discusses the qualification of the insured, his duties and rights and so on.In the fifth part, disputes in both theoretical and practical fields such as the status of the vehicle consumption loan bond insurance are also discussed. For instance, is the vehicle consumption loan bond insurance contract the sub-contract of the loan contract? The author thinks that it is independent and not the sub-contract of the loan contract. The reason is that the vehicle consumption loan bond insurance contract is independent in aspects of effect, transfer and responsibility. And this point of view is confirmed by high court.The sixth part mainly discusses insurance subrogation right in the vehicle consumption loan bond insurance. Insurance subrogation right refers that after the insurer's compensation, instead of the policyholder, he gets the right to ask for compensation to the third party who caused the insurance accident. The set up of this system is the outcome of the pursuing of the justice and the balancing of the interest among the policyholder, the insured and the third party who has some fault. In the exertion part of the insurance subrogation right, the author discusses the condition in which it can be exerted. This condition contains three factors: the damage to insurance objects must be caused by a third person; the insured must have the right to ask for compensation to the third one; the insurerhave already pay insurance compensation. Besides, the author discusses the object, name and scope of the insurance subrogation right.The seventh part is the conclusion. As is discussed above, the author thinks that the vehicle consumption loan bond insurance is a new kind of property insurance. It is totally different from guarantee. To balance the interest among the policyholder, the insurer and the insured, it is not guarantee law but insurance law should regulate the vehicle consumption loan bond insurance contracts.