The Research On The Cancellation Of Insurance Contract

Insurance contract is the carrier that connects the interests of each policyholder. During the execution of the insurance contract, many conditions can lead to the termination of the contract, and if the interests of both parties can't be protected fairly, it will be quite probable that the benefits of the policy-holder or the beneficiary would be breached of, ruining the image of insurer and the smooth and sound operation. In this paper, the author, by making a comparison of the theory and the practice of the rescission of insurance contract between China with focus on China's current situation in insurance industry, puts forward a proposal to consummate the regulations for the termination of insurance contacts.This Article consists of four parts:Chapter 1, beginning with illustration of the concept and subject of the right of the termination of insurance contracts, states the definition of the termination of insurance contracts, elaborates the main body of the termination of insurance contracts, and advocates that the main body of insurance contracts should be enlarged in certain cases. Next, the nature and characteristics of the termination of insurance contracts are analyzed and the principles for the terms of the termination of insurance contracts set by the Law of Insurance and the status of the parties concerned in the termination of insurance contracts are explored.Chapter 2 makes an analysis of the meaning, the characteristics, the legislative foundation, the applicable conditions, and the carrying-out of the policy-holder's right to rescind insurance contracts from two perspectives, the stipulated right of rescission and the legal right of rescission, points out the imperfectness of the related regulations in the Law of Insurance and puts forward the author's own opinion and suggestion.Chapter 3 makes a distinction between the cancellation and the termination of insurance contracts, summarizes the essence of the cancellation of insurance contracts in our country, analyzes the validity of the cancellation of insurance contracts based on the different regulations of the same problem in different countries, and puts forward the claim that whether the cancellation of contracts has the retroactivity should be decided according to the different characters of life insurance contracts and property insurance contracts and the fault of the parties concernedChapter 4 puts forward solution to improving the law and regulations of insurance contracts in our country. It elaborates the performing of the insurer's cancellation right of the insurance contracts and the affairs of holding back, analyses the weakness of the Insurance Law and makes some suggestions to expand the given time, import the waiver Estoppels rules properly, in order to make use of its advantages and boost the insurance industry in our country.