Study On Warranty In Marine Insurance Contracts

Due to the rapid development of Chinese marine insurance industry,disputes about warranty in marine insurance contracts in judicial practice are also increasing.This article starts from the two cases where the navigation(locality)warranties are differently identified in Chinese judicial practice,analyzes the relevant provisions of warranties under Chinese legal system,combines with the comparative law study of the warranties,clarifies the relevant concepts,in order to explore Chinese warranty system of marine insurance.When it comes to Chinese maritime affairs,insurance companies still use the warranty in marine insurance contracts frequently and diversely.However,there’s no uniform standard for the determination of warranty in Chinese judicial practice.Therefore,trace the legislative source of warranty in Chinese marine insurance system,comprehend the provisions of Marine Insurance Act 1906 with British cases.The research framework of warranty is established from the aspects of the meaning of warranties,the nature of warranties,the classification of warranties and the effects of breach of warranties.The reform of the Insurance Act 2015 readjusted the warranty system of marine insurance,which has been maintained for more than 100 years,symbolizing the warranty system in marine insurance transforms from a strict traditional one to a modern new one.At last,the existing provisions of warranty in Chinese marine insurance are still incomplete.Scholars hold different opinions about whether it is worth to maintain the warranty in Chinese Maritime Code.Based on the practice of Chinese marine insurance business,this article proposes the suggestions to the warranty in Chinese marine insurance.