Insurance Law Waiver And Estoppel Systems Prohibit Research

Chinese new “Insurance Law”was formally implemented on October,1,2009, itincludes the waiver and estoppel system for the first time. This system, on one hand,is a limit to the insurers’ rights based on the insured party’s duty to inform, and aprotection for the insured party’s rights on the other hand. This system fully considersthe balance of interests, by reducing the insured’s obligation to inform, and promotingthe insurer to fulfill its responsibilities in essence.This paper will discuss in four parts.First, discusses the basic theories of the wavier and estoppel system; then, analyzesthe elements of it; again, discourses the scope of application of the system; finally,proposes suggestions for the improvement of the waiver and estoppel system inChina’s insurance law.The purpose of this paper is to protect and balance the interests of insurer andinsured. Since the complicated situation of the present market condition of insuranceindustry, highlights the trust crisis of the insurers, it’s hard to protect the rights andinterests of both insurers and insureds. Although the new insurance law stipulates thewavier and estoppel system, it’s still difficult to cope with the changing marketcondition of insurance industry, for the wavier and estoppel system is not perfect.Therefore, the author proposes some apropos advices to solve these problems in thispaper, in order to stabilize the insurance market, promote the healthy development ofinsurance market, achieve a win-win situation of both the insurer’s and the insured’sinterests.