Research On Legal Regulation Of Valued Insurance

As one of the most special types of insurance,the greatest feature of valued insurance is that it can appropriately break through the compensation principle.Both parties to an insurance contract may determine the insurance value through negotiation.When an insurance accident occurs,the actual value of the insured object is no longer considered,and the agreed insurance value is directly used as the calculation basis of compensation.The reason why valued insurance is allowed to break through the compensation principle is entirely in the consideration of economy and efficiency.In this case,the appropriate concession of the principle of compensation can greatly facilitate the parties.Obviously,this is the application of the principle of autonomy of will,but even if it is autonomy of will,the behavior of all subjects should be constrained within the framework of the law.However,China’s current legal provisions on valued insurance are only the first paragraph of Article 55 of the insurance law.The lack of legislation directly leads to the lack of sufficient legal rules to apply in judicial cases involving valued insurance,and can only rely on legal principles for direct judgment.In terms of legal principles,the scope of application is broader and more subjective,which directly leads to the inconsistency of judgment standards.At the same time,the purpose of the participants in each legal relationship is different,and all parties can only strive for the maximization of interests from their own perspective.In the absence of legal rules and constraints,some subjects’ motivation to participate in legal relations began to deviate,and their behavior began to cross the red line of morality.Through the discussion of the above problems,this paper leads to the necessity of strengthening the legislation of valued insurance and relevant legislative suggestions.In addition to the introduction,the main contents of each part of the full text are as follows:The first chapter is the source of this topic,which comes from a case in2020.Nanjing Li used her years of experience in the aviation industry to predict flights with high possibility of delay.After that,they bought a large number of flights with their predicted results,applied to the insurance company for compensation by using the aviation delay,and received a compensation of more than 4 million yuan in three years.After the Procuratorate issued a circular on the case,it aroused widespread concern of public opinion.There are great differences on whether Li’s behavior constitutes a crime and what crime.After analyzing the valued insurance contract in the case,the author found that the contract involved had great defects,which was essentially a gambling contract.With the author’s investigation of the valued insurance sold in the market and the cases involving valued insurance in recent years,it is found that at present,China’s legislation on valued insurance is almost blank,and the standards adopted in judicial trial are also inconsistent.The legal provisions of valued insurance need to be strengthened.The second chapter further analyzes the current legislative situation of value insurance in China.And under the current legal provisions of our country,the focus of controversy and the reasons for the judgment of some valued insurance cases.It can be seen from the cases heard by the court that in the absence of specific legal rules,the judges can only judge according to the legal principles.Thus,there are some problems,such as inconsistent determination of valued insurance and inconsistent claim settlement methods.It further reflects the lack of valued insurance legislation in China.The third chapter analyzes the reasons for the abuse of valued insurance.In essence,the abuse of valued insurance stems from the pursuit of interests by all insurance participants.The best way to get the maximum benefit is to break through the restrictions of the rules.The insurer wants to make a profit,and the applicant and beneficiary want to obtain high compensation or achieve their own purpose.Based on their own interests,all parties have the same value pursuit in crossing the moral sideline.In addition,in recent years,the rapid expansion of the insurance industry and the rapid development of the Internet sales model have also led insurance companies to take business expansion as the goal and lax requirements for themselves,resulting in various illegal products.Then discusses the social harm caused by the arbitrary application of valued insurance if it is not regulated,valued insurance has great moral hazard for the breakthrough of compensation principle.If there is no law to restrict it within the framework,all parties will inevitably cross the moral sideline for the sake of interests.Then it will cause a series of social risks,make the insurance lose its due security function,and also cause the conflict of judicial application.The fourth chapter focuses on the above problems and puts forward corresponding legislative suggestions.China’s legal and economic system has its unique characteristics.Legislation should consider the actual situation of our country and be designed according to our legal system.It is indeed necessary to learn from foreign experience.But we can’t just copy it.The legal regulation of value insurance should be considered from the aspects of laws,regulations,examination and approval,supervision and so on.The emphasis of each level is different,and the restrictions on valued insurance are also different.Should be scattered and different,three-dimensional legal design.The fifth chapter is a summary of the full text.This paper briefly reviews and summarizes the purpose of valued insurance,the current situation of domestic legislation,existing problems and solutions.I hope it can play a role in attracting jade for the legislation of domestic valued insurance.