Of Personal Insurance Duty To Inform

Insurance is a way for people avoiding or transferring risk, by people who confronted with similar risk form a group, raise money, all the members will share risk and loss when individual come to a bad end. The duty of disclosure is an important part of the insurance system. Because of the asymmetric information situation between the insurer and the insurance applicant, the duty of disclosure came into being to protect the insurer and make up for the disadvantaged in the information gathering. Especially in personal insurance, the importance of the duty of disclosure is obvious, because insurance subject matters are people's life and body, the insured's medical history, age, occupation, etc, what are closely related to insurance subject matters, are complicated and changeable. Insurance law of the People's Republic of China made relevant regulations about the duty of disclosure in personal insurance. But in recent years, with the rapid development of the insurance industry and the high number of cases on the duty of disclosure in personal insurance, Chinese existing insurance legislation shows its deficiency. This paper offers a study of the duty of disclosure in personal insurance by comparative analysis and case analysis.This paper consists of four chapters. The first chapter discusses theory basis of the duty of disclosure in personal insurance. Firstly, it comments the theory about the reason why the duty of disclosure is provided by the law, and then confirms the estimation of hazard. Then it analyses the nature of the duty of disclosure in personal insurance and makes it clear that the duty of disclosure is a precedent legal, and unreal obligation by nature.The second chapter studies content of the duty of disclosure in personal insurance. Firstly, it analyses obligor and obligee. Secondly it discusses the content of the duty, that is the fact which policy-holder or insurant know or should know, the insurer asked and has a significant effect on insurance contract.The third chapter studies how the duty of disclosure should be performed. Firstly, it analysis the time of perform. The time of perform has general regulation and three special provisions. Secondly it discusses two kinds of circumstances on obligations exempted.The fourth chapter analyzes the legal consequence of violates the duty of disclosure. This paper first explores the objective and the subjective factor of the behavior which violates the obligation. Then it discusses issues such as how the right to rescind should be performed, the results of perform and limits on the right to rescind. In addition, this paper studies the relationship between the right to rescind and the right of rescission in the contract law.