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On The Principle Of Utmost Good Faith Applicable Insurance Law

Posted on:2014-04-13Degree:MasterType:Thesis
Country:ChinaCandidate:Y W WangFull Text:PDF
GTID:2266330401958105Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
The principle of utmost good faith is the basis for the survival of the insurance industry, related to the financial industry as a whole or even the entire development of market economy. In a sense, the principle of utmost good faith is the lifeline of the Insurance Act. But with the insurance industry to flourish, insurance contract disputes, compensation and insurance contract disputes, arbitration and litigation of benefit obligations, and the resulting variety of bad faith and insurance fraud are also increasing, as has long been plagued by insurance contract parties as well as the insurance industry, the legal profession an important and rather tricky problem.The principle of utmost good faith originated in marine insurance, it is adapted to the needs of the marine insurance is determined. The subject of marine insurance is a property that is in motion, a great risk. When the parties entered into the insurance contract, the ship and its cargo are often far overseas. In the early stage of marine insurance, the extremely backward, because the communication tools require the insurer before underwriting field survey is very difficult. Therefore, the usual practice is based on the insured party are covered. This requires the parties with the greatest sincerity more than the general contractual relationship. For example, insurance underwriting decisions on whether and how to determine the premium rate depends on honest policyholders to inform. In this way, the principle of utmost good faith to maintain the condition of the insurance business carried on normally essential.Contemporary principle of utmost good faith in insurance law is broader, especially after China’s accession to the WTO WTO, the internationalization of capital and technology, the insurance industry in economic development was also made plays an important role, the insurance contract between the mainsense of trust whether consistent with the insurance industry to flourish, is bound to the development of the insurance industry, a major problem of economic globalization. According to information recently released by the China Insurance Regulatory Commission (CIRC), the consumer environmental problems of China’s insurance industry is not optimistic, Insurance Complaints and insurance disputes grow exponentially. When the integrity of the insurance industry is challenged, the development of this industry will face a bottleneck. Whether the insured, the insurer, or the insurance companies and insurance intermediaries, pay attention to the utmost good faith in today’s China has a strong practical significance.In view of this, I start from the distinction between insurance law principle of utmost good faith and civil law principle of good faith, and to consider the necessity and significance analysis of insurance law applies the principle of utmost good faith from many angles. Insurance contracts entered into to fulfill the claims process to the longitudinal axis of the time, analysis of the various stages of the parties to the insurance contract and related stakeholders rights and obligations of its contents, and clearly the powers and responsibilities of the parties to the interests of the stages in order to reduce the incidence of disputes. And try to learn from the developed countries in the international insurance legislation with the theoretical results, combined with the Current Situation of China’s insurance legislation as well as the operation and management of the insurance industry practice, as the cornerstone of the insurance law and insurance system the principle of utmost good faith in insurance law applicable to explore.
Keywords/Search Tags:Utmost good faith, Description obligations, DisclosureAbstain, Estoppel
PDF Full Text Request
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