Automobile Consumption Loan Guarantee Insurance Legal Issues

The guarantee insurance for automobile consumer finance is a kind of commercial insurance relationship which involves three parties: the debtor (automobile consumer), the creditor and the insurer. Under the insurance contract, the insurer would be bound to compensate the damage the creditor suffers when the debtor fails to perform the credit contract between him and the creditor.In regard with the nature of the automobile consumer finance guarantee insurance, this dissertation insists that as one of the mechanisms for dispensation of risk, the guarantee insurance is different from mere guarantee and is a kind of insurance in its nature . Moreover, the same conclusion can be drawn after a rational inspection of the value and the function of insurance from the legal and economic aspects.Then, this dissertation analyzes some practical issues arising from the real operation of guarantee insurance for automobile consumer finance, which include the relationship of the parties of insurance contract, the corresponding rights and obligations, the liability of insurer, the immunity clause, the arrangement for compensation, the reimbursement and so on. During the course of analyses for every issue, the author tries her every effort to expound how it should be, not it is. Thus, some constructive suggestions are put forward on this ground.This dissertation is divided into three parts.Part One gives a global view of the guarantee insurance for automobile consumer finance. In this part, the definition, the characteristics and the historic evolution of the guarantee insurance for automobile consumer finance and guarantee insurance itself are described; its development and relative deficiencies in China are elaborated; the reasons for the main operational problems are coursed.Part Two are studies on the fundamental theories of the guarantee insurance for automobile consumer finance. First, the author probes into the nature of the guarantee insurance for automobile consumer finance, and its nature as insurance is ascertained on the ground of the analyses on the value and function of guarantee insurance. Then, the author details some essential elements of a guarantee insurance contract for automobile consumer finance such as the subject, the object, the right and obligations and so on.Some practical researches on guarantee insurance for automobile consumer finance are carried out in Part Three. The author clarifies the relationship between the clauses of insurance contract and relating agreements while giving the proposal on how to do the drawings of the insurance clauses. Moreover, with her full experiences in the field of insurance, the author shares her wisdom on the practical operation of guarantee insurance for automobile consumer finance by insurance corporations. At the end of this dissertation, the opinions on the settlements for three typical disputes in this field are discussed.