Insurance Brokers Legal System

The thesis studies the laws of the insurance broker of China in accordance with the regulations of the Insurance Law, Contract Law, General Principles of the Civil Law, and Regulatory Rules on the Insurance Bmker (Trial) of China, as well as the laws and leading cases about the insurance broker in Britain, America, Germany and some other countries where insurance broker industries are developed. The thesis consists of four chapters. The first chapter simply summarizes the description, classification, origin, development, functions, and business operation of the insurance broker and makes a foundation of the following chapters which will further discuss the laws of the insurance broker in detail. Being the main part of this thesis, the second chapter discusses in the scope of private law the legal status of the insurance broker and his rights and obligations, his relation with the proposer and the insurer, and his civil liabilities. It expounds the exact meaning of the concept of 搃nsurance broker? After a study on the legal status of the insurance brokers in the different legal systems of Civil Law and Common Law, the author concludes that generally a Chinese insurance broker is the committee of the proposer he serves under a commission contract; in some cases, the insurance broker is only an intermediator or agent of the proposer(the concepts of intermediator?and agent?are both sub-concepts of the ommittee? under Chinese law) when he is committed some special matters. On the basis of this conclusion the thesis further discusses the distinctions of the commission contract between the insurance broker and the proposer, his rights, obligations and compensation liabilities, the criterion for judging whether he is in fault, and the range of the compensation. In addition, the thesis discusses some special problems such as dual agency, the broker's tortious liabilities, the broker's special rights and obligations when as a insurance consultant only, and so on. In consideration of the special characters of the marine insurance and the great influence of the Marine Insurance Act 1906 on the world, the chapter also introduces the special provisions on the marine insurance broker of the Act. The third chapter, which consists of two sections, focuses on the regulation of the insurance broker. The first section is a brief introduction of the regulation on the insurance broker including the reasons, models, history and present situation of the regulation, and the regulatory systems and rules of many countries. The second section is the main part of this chapter, which discusses the regulatory systems and rules of China. This part expounds the legal foundation, principles and means of the regulation and the regulatory body of China, and then interprets the provisions of the Regulator,?Rules on the Insurance Broker (Trial) based on the provisions of the Temporary Regulations on the Qualifications of the Advanced Managerial Staff of the Insurance Bodies and the Regulatory Rules on Insurance Companies enacted by the Insurance Regulation and Administration Committee of China. The author elaborates the specific rules on the regulation from four aspects: the regulatory on qualification, on insurance broker bodies, on practice, and on finance. In the above chapters, the author also puts forward some proposals for amending some defects of the present laws and regulations on the insurance broker. For example, the author proposes that the insurance broker should be granted definitely the lien on insurance polic...