The Study On The Criterion For Judging The Insurable Interest Of Cargo On Sea

Two opinions on the standard for judging the insurable interest have existed in the area of jurisdiction and theory study, one is the legal interest test with the requirement that the insured must be legally associated with the subject matter and the other is the factual expectancy test requiring the insured only has a anticipated interest from the insured-subject matter.This thesis centers on the cargo insurance and analyzes, on the foundation of the former study about the insurable interest, the relation between the shift of risk and ownership of cargo and the judgment for the insurable interest during the course of international sale, figuring out the insufficiency of the risk assumption as the standard for judging the insurable interest. As a result of that, the expectant right in civil law is introduced and with the analysis of the nature and function of the expectant right, it comes to the conclusion that it is suitable to take the expectant right as the judging criterion for the cargo insurable interest. Besides the introduction and the conclusion, this thesis is divided into four parts.The first part is the general introduction of the insurable interest and the tests for judging the insurable interest, including the definition of the insurable interest and its function and analyzes the different criterion under different legal systems.The second part starts from the risk shift during the international sale and study the role the risk assumption plays in the judgment of insurable interest under the regulations of different countries, trying to figure out the limitations of risk assumption as the only standard to judge the insurable interest.The third part makes a survey on the shift of the cargo ownership under a comparison among the regulations in different countries and then brings in the concept of expectant right in civil law. With the combinations of the role the bill of lading plays in the cargo ownership shift, it works out how the expectant right is formulated during the course of the ownership shift. An analysis on the relationship between the transfer of the expectant right to the ownership and the insurable interest provides the support for the feasibility of taking the expectant right as the judging standard for cargo insurable interest. The fourth part centers on the developments of the clause of insurable interest in the insurance contract and paying a special attention on the effect the clauses of "lost or not lost" and "warehouse to warehouse" exert on the insurable interest. And it gives the reason to the FOB buyer’s insurable interest before the cargo is loaded into the ship.