Legal Issues Research On Yacht Insurance

With the development of economics, people’s pursuit of quality of life no longer limited to simple demand of the most basic things,the demand of people develops gradually to the humanities, spirit, leisure, entertainment, etc. Yacht is the most favorite thing to whom pursue leisure and entertainment. In the developed countries and regions, emergence and development of yacht economy takes a very long history, the yacht design, yacht building and selling, yacht navigation and berth and yacht insurance are all well developed in these countries and regions. While in China, the yacht economy started late and covered a very limited range, but it still full of potential.As a new product, the yacht still occupies the high-income class leisure entertainment life, yacht is a symbol of fashion and status to them. They prefer to buy yacht than any other things.Meantime,yacht industry in China has developed rapidly at present stage but not mature, industry foundation is still weak, and the industrial structure is not complete enough.Especially the domestic yacht insurance is still in groping stage.On the one hand, the lack of specialized yacht insurance servicehinder the development of yacht insurance from the speed and quality,which made it failed to keep pace with the development of yacht industry as a whole.On the other hand, the yacht industry in China started late, time for development is relatively shorter, the problem the whole industry may be faced with did not appear yet, and the lack of soundness legal environment is also a main problem.The writing of this article use the PICC yacht insurance clause as the foundation, starting from the current situation of the development of the yacht insurance in China, study and analysis the content of theInstitute yacht insurance clauses and the hull insurance clauses. Discuss from the insurance subject, the peril insured against and exclusions of yacht insurance, the cooperation between commercial insurance and compulsory insurance and so on, to put forward some own understandings and views of development and improvement of the yacht insurance in China.