Research On The Application Of Principle Of Insurable Interest In Personal Insurance Contract

The Principle of Insurable Interest is a vital concept in the development of Insurance Law.This concept was introduced late in China and it still being used through the process of the insurance industry.It can be easily found among the juridical precedents that,due to the over economically understand of the personal insurance interest,there are considerable amount of divergences and controversies about both the scope of subjects and the transfer of personal insurance interest.And they have led to huge differentiations among the past judgements.Even now,there are still contain a large amount of judgements that they have not strictly remained the consistency of the Insurance Law.Specifically,the utility of the personal insurance interest includes the characteristic of personal insurance interest defined,the utility of the subjects defined,the utility of time frame defined,etc.Speaking of the characteristic of personal insurance interest,in China,it will be defined as the economic interest in many juridical practices.However,in the Insurance Law,it has been only abstractly interpreted as legitimate interest.Compared the terms both economic interest and stakeholder's interest,the term legitimate interest seem more correspond to the characteristic of general insurance interest.Regarding the utility of subject of personal insurance interest,based on the interpretation of the jurisprudence and the understanding of the practitioners,it's necessary to dismantle the subtle elements to reconsider the problem of utility of proper subjects,thus,it can assist the juridical process and protect the interests of the stakeholders.For instance,according to the Insurance Law,there are five types of proper subjects and they have been categorized to describe the subjects in insurance contracts and the relationship with their stakeholders.Because of the high risk of morality and the special identity of the both applicant and beneficiary,these two subjects inevitably have insurable interests.Although,in daily juridical practices,they take complementary and enumeration to regulate the subjects of insurance interests,the definitions were narrow and different.They were mainly reflected in the conflict between the insurance interests and commercial ethics as the subjects contain an ethical relationship.Therefore,it's worth to expand the types of subjects in juridical practices,such as employment relationship,to protect the interests of the stakeholders by legislating the new terms.Besides,regarding the utility of the time frame of personal insurance interest,it only requires the subjects contain special relation while initiating the contract because of its unique characteristic.Consequently,the personal insurance interest might be terminated or transferred when the special relation goes the same.However,it should be precisely distinguished the both personal insurance interest and personal insurance contract interest.The former one cannot be transferred or obtained,but the latter one can be transferred or obtained by Party Autonomy.