The Legal System Research Of Catastrophe Insurance

Insurance not only provides products and services for the public but also become achoice of system more conducive to social security and stability. It played anindispensable role in the socio-economic development, making people’s lives safe andsound and ensuring social security, stability and harmony.As a special category of insurance, Catastrophe insurance has its own characteristic.In this paper I try to focus on catastrophe insurance system, hoping to make somesuggestions to the exploration of the establishment and improvement of the catastropheinsurance system in China ’s national conditions. It is understood that, as early as adecade ago, some relevant department of the People’s Bank of China s had alreadyworking on the establishment of catastrophe insurance system in line with China’snational conditions. With the frequent occurrence of the catastrophe such as "512earthquake ","414Yushu earthquake ", it is imperative to establish and perfect thesystem.In this paper I try to do some systematic research on catastrophe insurance systemthrough comparison, analysis, assumptions, and recommendations, to demonstrate thenecessity and feasibility of a legal system of the catastrophe insurance. The whole paperexcept the Introduction, is divided into four parts:The first part shows the meaning of catastrophe insurance, the differences betweenthe characteristics of it and of commercial insurance, reveal of the Social Securitynature of the catastrophe insurance system from a legal point of view.The second part is about catastrophe insurance systems in some foreign countriesmainly in the USA, to analyze, compare,study and learn from its legislativedepartments, government agencies, commercial insurance sector, financial funds andother aspects.Flowing is a comprehensive manner describe of the construction of thecatastrophe insurance legal system consistent with China.The third part is the exploration of catastrophe insurance system and its feasibilityand necessity in line with China’s national conditions,and the demonstration of practical feasibility to establish the catastrophe insurance system in this stage of China.The fourth part is a number of recommendations and suggestions to the catastropheinsurance system in China; the specific design concept to perfect the CatastropheInsurance Legal System, such as the source of the payment funds, regulatory, liability,and other aspects of the study, to build an perfectly integrity system of catastropheinsurance laws.