Research On Other Insurance

Other Insurance refers to the circumstance that two or more underwriters are liable for compensating any damage in the same insurance object occurred in an insurance risk. Broadly speaking, Other Insurance also includes double insurance.Being a special kind of insurance, the system of Other Insurance has such values as prevention of moral hazards and non-profit-making in insurance, which are to guide the handling of relevant issues. The author divides the factors of Other Insurance into two categories: the identical factors include four aspects, namely the insurant, insurance object, insurance duration, and insurance risk; and the non-identical factors also include four aspects, namely the policy holder, underwriter, insurable interest and insurance contract. After that, the author clearly defines the features and significance of Other Insurance by analyzing it against double insurance.In practice, Other Insurance falls into four major categories by the content of insurance: concurrence of social insurance and commercial insurance, concurrence of personal insurance and property insurance, concurrence of personal insurances, and concurrence of property insurances. Insurance contract often contains excess clause, escape clause, pro rata clause and other clauses that allocate insurance liabilities. Prepared from the perspective of underwriter, these clauses do not consider the interests of the insured. Since liability allocation clauses often conflict with each other in actual practice, they are handled differently according to specific conditions. In this section, the author sorts out the different ways of allocation of Other Insurance in practice through exemplification and theoretical analysis.After analyzing the functions, features, factors, types and handling of Other Insurance, the author reaches the final conclusion that Other Insurance clauses should be added to the Law of Insurance so as to make up the lack of laws on Other Insurance in China and set up a unified standard for handling of Other Insurance. Furthermore, the author analyzes the methods of liability undertaking during the concurrence of different types of insurance with the hope of providing a standard for formulating relevant clauses on Other Insurance and the basis for the court to handle cases on the issue.