Study Of Marine Insurance Interests

Marine transportation is an important part of international trade and marine insurance is the crucial security. Marine insurance is a necessary link of marine transportation. The insured can pass on the risk to the insurer by insurance and the insurer is able to raise funds from the insurance premium. Marine insurance is closely collected with marine transportation. As the outcome of the combination of insurance law and maritime law, marine insurance adopts many principles in insurance such as insurable interest.Insurable interest appears formally for the first time MIA 1906 which places an important role in China's research of marine insurance. However, sticking excessively to MIA 1906 make us ignore other countries' marine insurance laws and the international trade development.It has been argued for a long time that whether insurable interest is legal interest or factual expectancy. After elaborating the rationality of factual expectancy theory, this thesis generally analyzes categories of marine insurance interest and goes into its affects on marine insurance contract. It is specially emphasize that the range of marine insurance should not be too narrow. Some kinds of factual interest can also be recognized to be marine interest when they fulfill correlated conditions even they do not arise from legal rights or contracts. This thesis is divided into six parts.PartⅠ"Definition of Marine Insurance"Though marine insurance laws of different countries are various, they can be divided into two schools. One is legal interest school represented by the Great Britain and the other is factual expectancy school represented by the U.S.. Compared to legal interest principle, factual expectancy principle is more rational. Base on the latter, this part defines marine insurance and analyzes its characteristics. PartⅡ"Judge of What Kinds of Factual Expectancy Belong to Marine Insurable Interest"In judging what kinds of factual expectancy belong to marine insurable interest, whether it violates imperative rules of law and whether it is determinate and countable should be taken into consideration.PartⅢ"Reconfiguration of Marine Insurance System"According to legal interest theory, factual expectancy also belongs to marine interest. This part restructures the marine insurance interest system by adding newly-added categories to the original ones.PartⅣ"Insurable interest-Object of Marine Insurance Contract"Insurable interest is the object of marine insurance contract. It is basic in judging categories of insurable contracts. Marine insurable interest directly decides categories of marine insurance. The restructured marine insurance system is more logic and streakiness. It not only draws a clear distinction in present marine insurance contracts but also provides possibility for setting new marine insurance contracts.PartⅤ"Insurable Interest-Legal Requirement of Marine Insurance Contract"As the object of marine insurance contract, insurance interest decides the validity of marine insurance contract. This part discusses insurable interest's effect on marine insurance contract's validity.The last part summarizes marine insurable interest and puts forward suggestions to China's marine insurance legislation. In the situation that conditions for correlated laws' amendment are not mature, suitable regulations should be drawn up as soon as possible in order to find an effective solution to problems in marine insurance. Particularity of marine insurance and need of international trade should be adequately considered. Marine insurance forms should not be limited to a narrow range. Some kinds of factual expectancy should also be recognized as insurable interest.