Marine Insurance Warranty: Comparing Common and Civil Law Approaches and their Implications for the Reform of Chinese Law
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In: Journal of Business Law, Vol. 3, 01.01.2017, p. 218-236.
Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Marine Insurance Warranty
T2 - Comparing Common and Civil Law Approaches and their Implications for the Reform of Chinese Law
AU - Jing, Zhen
N1 - This is a pre-copyedited, author-produced version of an article accepted for publication in [Marine Insurance Warranty: Comparing Common and Civil Law Approaches and their Implications for the Reform of Chinese Law] following peer review. The definitive published version Marine Insurance Warranty: Comparing Common and Civil Law Approaches and their Implications for the Reform of Chinese Law Jing, Z. 2017 In : Journal of Business Law. 3, p. 218-236] is available online on Westlaw UK or from Thomson Reuters DocDel service .
PY - 2017/1/1
Y1 - 2017/1/1
N2 - 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.
AB - 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.
KW - risk management
KW - warranty
KW - Chinese Marine Code
KW - Insurance Act 2015
KW - alteration of risk
M3 - Article
VL - 3
SP - 218
EP - 236
JO - Journal of Business Law
JF - Journal of Business Law
SN - 0021-9460
ER -