A Research On The Legal Nature Of The Guarantee Insurance For Automobile Consuming Loan

The Guarantee Insurance for Automobile Consuming Loan is a new style of insurance product, which has been designing to support the automobile consuming loan business of commercial banks in recent years. Based on the particularity of the Guarantee Insurance, the new product has triggered lots of disputes both in theory and in practice. Resulting from the disputes, the relevant cases have been applied to different laws in the judicial practice.In order to make some contributions to the legal applications of the relevant cases, this paper analyzes the legal nature of the new product. The paper refers to both the contractual clauses and the main viewpoints about the legal nature of the new product. Then, the paper searches for the background and the purpose of the relevant parties in the process of signing the contract. Moreover, the paper concretely analyzes the fundamental characters of the usual insurance contract. Later, the paper gives some suggestions for the perfection of the new product.The paper concludes the guaranty function of the new product, after analyzing the standpoints of the relevant parties of the contract. Besides, the paper assures that the new product doesn't possess the fundamental characters of the usual insurance contract, through analyzing the nature of insured accidents, insurable interest and so on. Based on the above analysis, the paper gives answers to different viewpoints and makes the conclusion that: the Guarantee Insurance for the Automobile Consuming Loan is a mixture of the insurance contract and the guarantee contract, which functions as a method of guaranty in a form of an insurance, and should be applied both to Guaranty Law and Insurance Law according to different situations.