| Stemming from the English marine insurance, warranties in marine insurance was originally set up to control risks for ensuring proper management of the insured subject-matter without any alteration of risk. However, the whole situation has changed and today the trade industry, shipping industry and insurance industry have differed from those when warranties were created and therefore the traditional warranties could not adapt to the current marine insurance practice. As a first and foremost common law concept, the warranty is based on MIA1906 and case laws and it has been widely inherited into other countries. Most of the civil law countries do not have the concept of warranties in their insurance legislation, but have the concepts of specially stipulated conditions and alteration of risks, similar to the warranty. In respect of the problems resulting from the traditional warranty system, various countries have dealt with them in different manners. The international organization CMI has dedicated to the harmonization of marine insurance law, but nothing has accomplished yet. It is too early to conclude whether the warranty system will still exist or not, but it is certain that the harshness of breach of warranties will be gradually eliminated.The sole statutory provision in respect of the warranty is Article 235 of the Maritime Code of P.R. China, which is too simple to deal with the complicated judicial problems. By means of analyzing the warranties in common law countries and similar systems in civil law countries, the author puts forth the suggestions for establishment of warranty system in our country. Improving warranties in marine insurance is of great importance to the development of our marine insurance industry. On the one hand, it will prevent the abuse of warranties by insurers, on the other hand, it will ensure the legitimate rights of assured to balance the rights of both parties.The thesis consists of five parts. The first part introduces the concept and... |
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