| As one type of bond insurance,loan guarantee insurance is usually known as additional insurance or additional clause of Comprehensive Insurance for Personal Mortgage House,which insured damages arising from debtor's failure of repaying the loan due to loss of repayment capacity causing by accident during the insurance period.There are many disagreements on the status of the insurant in the insurance clauses,the elements and achievements of the insurance event and the consequences of fulfillment by the successor of the debtor on behalf of the debtor while the debtor's death occurs and so forth.In order to perfect this type of insurance and to promote its development,properly identifying the status of relevant parties is very essential.Among all parties,the debtor shall be identified as policy holder and insurant as well.Such identification is not only consistent with the principle of insurable interest in insurance law but also complied with the principle of contract interpretation and can promote the long-term development of such insurance in the insurance market.There are three elements in for the accomplishment of the insured event in loan guarantee insurance: first,accidental event which be the reasons,secondly,loss of repayment ability which be the consequences and the third one,failure of fulfill all or part of the repayment obligation in certain period.For the second element,i.e.the loss of repayment ability,there are two limitations when considering whether the element is met.The first limitation is subject of repayment ability,which means only the debtor's repayment ability shall be considered.The second limitation is the scope of property that shall be considered which shall not include the loan house itself.Besides,under the circumstance that the death of the debtor occurs and the successor repays the debtor on behalf of the debtor,the successor is entitled to claim for benefits to the insurer if the insured event can be recognized as accomplished. |
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