Warranties and doctrine of alteration of risk during the insurance period: A critical evaluation of the UK Law Commissions’ proposals for reform of the law of warranties
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In: Insurance Law Journal, Vol. 25, No. 2, 8, 2014, p. 183-209.
Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Warranties and doctrine of alteration of risk during the insurance period
T2 - A critical evaluation of the UK Law Commissions’ proposals for reform of the law of warranties
AU - Jing, Zhen
PY - 2014
Y1 - 2014
N2 - This paper critically discusses the proposals by the Law Commission of England and Wales and the Scottish Law Commission for reform of the law of warranties, examines the doctrine of alteration of risk as an alternative approach for risk management during the insurance period, and considers the possibility for the promissory warranty to be replaced by the doctrine of alteration of risk. It is argued that the Law Commissions’ proposals for reform of the law are insufficient in terms of mitigating the harshness and unfairness of remedies for breach of warranty. The remedies in the doctrine of alteration of risk are much fairer than those for breach of a warranty. An appropriate model to deal with increase of risk during insurance period is proposed.
AB - This paper critically discusses the proposals by the Law Commission of England and Wales and the Scottish Law Commission for reform of the law of warranties, examines the doctrine of alteration of risk as an alternative approach for risk management during the insurance period, and considers the possibility for the promissory warranty to be replaced by the doctrine of alteration of risk. It is argued that the Law Commissions’ proposals for reform of the law are insufficient in terms of mitigating the harshness and unfairness of remedies for breach of warranty. The remedies in the doctrine of alteration of risk are much fairer than those for breach of a warranty. An appropriate model to deal with increase of risk during insurance period is proposed.
M3 - Article
VL - 25
SP - 183
EP - 209
JO - Insurance Law Journal
JF - Insurance Law Journal
SN - 1030-2379
IS - 2
M1 - 8
ER -