The Research On The Expansion And Improvement Of Insurable Interest

The insurable interest is one of the fundamental principles of insurance law.It is aimed to prevent fraud,gambling and other moral risks.With the development of society and economy,the property rights and economic relations become more complex,and the contents of insurable interest has been enriched and expanded.While according to the Insurance Law in China,the insurable interest is still based on legal interest,which has already caused confusion in practice,and restricts the development of insurance industry.To this paper will sort out the concept and types of insurable interest,review the development of the insurable interest theories in different countries,and find out the limitation of legal interest test.Based on the research,this paper will analyze and demonstrate the reasonability of factual expectation test in property insurance,so as to provide advice on expansion and improvement of insurable interest,and provide reference for the research on legislation and application of the insurable interest.Except the Introduction and Conclusion,this paper is made up by the following four chapters.Chapter One: the paper introduces the insurable interest,which mainly is about the contents and types of insurable interest,and compared the characteristics of insurable interest with gambling.The paper also introduces the types and functions of insurable interest in property insurance.Chapter Two: the paper reviews the development of insurable interest in different countries,and introduces the establishment of the theory of legal interest test and the growing acceptance of the theory of factual expectation test,and the easing of insurable interest around the world.Furthermore,the paper introduces the argument about whether or not to keep the insurable interest rule after the revision of “Gambling Act 2005” in England.Chapter Three: the introduction of the limitations of the theory of legal interest.By analyzing the limitation to the insured person,the insurance product and the insured property,the paper concludes that on the premise of keeping the insurable interest rule,it is necessary to expand the content of the rule so as to keep the pace with the development of society and insurance market.Chapter Four: the paper demonstrates the reasonability and feasibility of the factual expectation test,and concludes that the factual expectation test is more appropriate for the development of insurance market by setting up proper scope of application and judgment standard.