On The Insurance Interests

Insurance is considered as the most perfect system which remedies all kinds of damages throughout history. As China took part in WTO, insurance market is opener day by day, insurance profession is increasingly prosperous. Insurance develops significance in decreasing social problems, maintaining social stabilization, promoting economic development and so on. Insurance interest not only decides the effect of insurance contract, also the criterion of the subject insured, insurance value, caused damage, repeated insurance, excessive amounts, the transfer of insurance contract interest and so on. From that, we can say insurance interest has an important position in the Insurance Contract. As insurance legal system is being in a developing stage, the study of insurance interest isn't deep and so many problems are occurring in the legislation and legal practice.The author discusses the historical development, the deficiencies of the insurance interest in the law, sphere of application of the insurance interest, the subject, the object, the content, the existing period, and the reverse principles of legal insurance interest, further puts forward relevantly legislative suggestions of completing insurance interest in China.Part one focuses on the historical development and the deficiencies of the insurance interest in the law and sphere of application of the insurance interest. It is known that the economical insurance interest is the general trend, by the analyses of the historical development of the insurance interest and the comparison of the historical development between the Roman Law Legal Family and the Common Law Legal Family. Life insurable interest is also an economic interest like property insurable interest. This exerts actively to the development of insurance market and the prosperity of marketable economy. Every country adopts legal insurable interest actually before the appearance of economic insurable interest. It is known that, legal insurable interest isn't suitable to time's development by the analyses of the deficiencies of legal insurable interest and it is the general trend in substituting economic insurable interest for legal insurable interest.Part Two is talking about the subject, the object and the content of the insurance interest. The insurance interest embodies the relation between the proposer or the insured and the beneficiary. And as a legal relation, it is the key point to accurately hold and grasp the subject, the object and the content of the insurance interest. Through the discussion of the relation of the insurance interest and the proposer, the relation of the insurance and the beneficiary, it is clear that the subject of the insurance interest is the proposer in the property insurance, and the proposer and the insurance in the life insurance. Through the comparison between the object in the insurance contract and the object in the insurance interest, it can be known that the insurance interest object or the subject insured is the object of the insurance accident, which embodies the concrete property in the property insurance, and embodies the human life and body in the life insurance. By the analysis of the insurance interest content from the different angles, it is clear that the insurance interest is an assuredly and legally economic interest.Part Three discusses the existing period and reverse principle of insurance interest. It is necessary to analyze the existing period of insurance interest deeply in order to grasp the subject and object of it exactly. Property insurance and life insurance are expounding separately in other countries. When an insurance accident is happening and the subject insured is indemnifying in property insurance, the insured shall possess insurable interest in the subject insured. If he doesn't, the insurance contract shall be null and void. When proposers and the insured are signing insurance contracts in life insurance, they shall possess insurable interest in the subject insured. If they don't, the insurance contract shall be null and void. Introducing reverse principles to cognize insurance interest in legislation makes insurance interest develop a opener, freer and more active direction and adapt to the need of international development of insurance industry. It is easier to be accepted that uses reverse principles to cognize insurance interest in insurable practice. Non-gambling and unmoral risks are assumed to having insurance interest.Part Four analyzes the defect of relevantly legal regulation of insurance interest and promote to perfect legislative suggestions of Article 12 in the Insurance Contract.