The Study On Legal Issues Of Yacht Insurance

The Yacht Insurance emerged with the development of yacht industry and covers all of its sectors. The improvement of the Yacht Insurance plays an important role in yacht industry. Currently, the countries and areas which keep developed yacht industries in Europe provided relatively comprehensive regulations. However, late in development of the Yacht Insurance, China has not prescribed standard contracts for the Yacht Insurance, and its legislation on the Yacht Insurance remains defects. It will introduce the laws regulating the Yacht Insurance,analyse the party and the subject of of the Yacht Insurance contracts,discuss the laws on insurable interest, duty of disclosure, guarantee obligations and compulsory liability insurance for the third party of Yacht Insurance.Finally, in order to improve Chinese law on the Yacht Insurance, it will propose suggestions on legislation of the Yacht Insurance in China.The thesis contains three parts, i.e. introduction, main text and conclusion. The main text consists of four chapters.Chapter 1 The Overview of The Laws on Yacht InsuranceIn this Chapter, it will introduce the laws regulating the Yacht Insurance, the standard contracts of the Yacht Insurance and the relationship between them. In order to balance the rights and obligations of the parties,the standard contracts of the Yacht Insurance needs to regulate through legislation.Chapter 2 The Standard Contracts of The Yacht InsuranceIt will introduce the Yacht Insurance contracts in general.The parties of Yacht Insurance contracts are diversity.The subject of of the Yacht Insurance contracts is insurable interest, including ownership interests,rental interests,mortgage interests etc. Based on the analysis, it will put an emphasis on researching the typical terms of the standard contracts of the Yacht Insurance.At the same time,based on the present situation of China standard contracts of the Yacht Insurance,it will propose suggestions on standard contracts of the Yacht Insurance.Chapter 3 The Laws on The Yacht InsuranceIt will mainly demonstrate the laws and regulations on the Yacht Insurance from four respects:insurable interest, duty of disclosure, guarantee obligations and compulsory liability insurance for the third party.In the Yacht Insurance,the insured should have insurable interest of the subject of insurance when the insured event occurs.Insurance interest of Yacht Insurance has the characteristics of diversification.Policy holder, insured,yacht brokers should fufill the duty of disclosure.They should disclose the important information of risk to the insurer in a reasonable and appropriate way.When the insured breach of warranty, the insurer could terminate the insurance contract.Compulsory liability insurance for the third party can share the responsibility of the owner and protect the interests of the third party which is damaged.Chapter 4 The Suggestions on the Yacht Insurance legislation in ChinaIt will propose suggestions on legislation of the Yacht Insurance in China based on the analysis of the status quo and problems existing in the current laws and regulations of the Yacht Insurance.The Yacht Insurance should apply to The Maritime Law of the People’s Republic of China and learn the international advanced legislations to improve the regulations of disclosure and warranty etc.At the same time,we should establish system of compulsory liability insurance for the third party.