Marine Insurance Warranty: Comparing Common and Civil Law Approaches and their Implications for the Reform of Chinese Law
Research output: Contribution to journal › Article › peer-review
Electronic versions
Documents
- 2017 Marine Insurance warranty
Accepted author manuscript, 212 KB, PDF document
Licence: CC BY-NC Show licence
For risk management, ‘warranty’ provisions in common law serve to define the risk insured, whereas civil law countries adopt an ‘alteration of risk’ doctrine. The term ‘warranty’ under Chinese marine insurance law is derived from English law, whereas in its general insurance law China at the same time also adopts an ‘alteration of risk’ doctrine to control risk. The need for a reform of insurance warranty law has prompted much scholarly debate. Following a thorough discussion of the status quo of warranty law in China, this paper further explores the reformed warranty law under the Insurance Act 2015 in England, together with the general ‘alteration of risk’ doctrine in civil law countries. It is argued that blindly importing relevant articles from the Insurance Act 2015 is not a feasible solution, as this will not only create more disputes, but will also create inconsistency with other laws. The paper concludes by suggesting that maybe adopting the ‘alteration of risk’ doctrine is a better way to replace the current warranty law under Chinese marine insurance law.
Keywords
- risk management, warranty, Chinese Marine Code, Insurance Act 2015, alteration of risk
Original language | English |
---|---|
Pages (from-to) | 218-236 |
Journal | Journal of Business Law |
Volume | 3 |
Publication status | Published - 1 Jan 2017 |
Total downloads
No data available