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Certain features of insurable interest are common to all forms of insurance.They are discussed below:
Insurance companies have insurable interest in their liability to pay claims to insureds.This interest gives them the right to seek reinsurance.The purpose for the insurance companies to buy reinsurance is to satisfy the statute requirements,to spread risks arising from uncertainty regarding future claims experience,to obtain increased capacity,to finance new business,to improve financial efficiency,particularly in respect of insurance company taxation and to take advantage of wider range of services provided by the reinsurer.This performance by insurance companies still satisfies the principle of insurable interest.
Some people have certain legal right,but only an expectancy that those rights will materialize.For example,if a trader owns some property or goods and sells them,he has a legal right to any profits that the price may allow.He expects to make a profit if the property or goods remain undamaged.However,if the property or goods are destroyed,the expectancy to that legal right is defeated.This expectancy to profit is insurable because there is a legal right to the profits through the ownership of the property and the goods.Suppose an old man of ninety years old has an estate worth 20 000 pounds a year.Being incapable of making a will to his heir or inheritor because of incurable lunacy,no one will deny that his heir-at-law has moral certainty of succeeding to the estate. 16 Yet the law will not allow him to have any interest and he cannot arrange insurance for the estate.According to English law,the estate is only an expectation.
Lawful possession of property normally has insurable interest if that possession is accompanied by responsibility.For example,if you have purchased a house or a car with your own money,the house or the car is your property that is recognized at law.So you have insurable interest to the house or to the car.However,if you deliberately set fire to your own house or destroy the car,you will gain no benefit from the fire policy or motor policy if your criminal act comes to light. 17 A person cannot recover his indemnity under a policy in respect of his own criminal acts.But people can arrange insurance to meet the civil consequences of some breach of the criminal code.This happens often when drivers are found guilty of some road traffic offence and at the same time receives indemnity from insurers for damages to their own or another's property.
Generally speaking,the amount of insurable interest must be capable of financial valuation. 18 This is straightforward in the case of insurance of property,liability and the rights and interests.But in the case of one's own life or the life of a spouse,financial valuation is difficult because there is an unlimited interest in one's life.
With regard to other policies on the life of another,certain interests are capable of financial valuation.For example,the creditor's interest on the life of a debtor is the amount of the debts,plus interest and insurance premium.In other cases,for example,an employer in employee's life,the interest must be in a reasonable sense capable of financial valuation in money.In Hong Kong,the sum insured of an employee may be one million HK dollars.
As we know,it is the interest of a person in the subject matter of insurance that is insured by the policy.Any assignment or transfer of that policy from one person to another will cause problems as the new holder of the policy may not have the same insurable interest. 19 Assignment of policy referring to transfer of rights can be carried out. 20 But in the case of personal contracts,such as fire or accident po-licies,it requires the consent of the insurer.
In general,assignment of personal contracts will only be valid with the consent of the insurers.Therefore policies covering property and liability are not freely assignable.In fact,when the insurer consents to the assignment of a policy,a new contract is concluded.The process of making such a new contract is called novation.We will discuss the topic of assignment in details in another chapter.
insurable interest 可保利益
Insurance Law of the People's Republic of China 《中华人民共和国保险法》
policyholder 保单持有人
blood relationship 血缘关系
unenforceable 不能强制执行的
legal right to insure 可保的法律权利
avoid gambling 预防赌博
artificial hazard 人为的风险因素
financial institution 金融机构
creditor 债权人
debtor 债务人
potential legal liability 潜在的法律责任
legal precedent 法律判例
out of court 法庭外
seek reinsurance 寻求再保险
satisfy the statute requirement 符合法定的要求
enforceable at law 法律可以强制执行的
expectancy 期望值
heir-at-law 法定继承人
inheritor 继承人
moral certainty 确实可靠性，必然的可能性
lawful possession of property 对财产的法律占有
assignment of insurable interest 保险利益的转移
personal contract 个人合同
1.The absence of the required relationship will render the contract illegal,void or simply unenforceable,depending on type of insurance.
根据保险的不同种类，缺乏所需的关系将会使合同非法、无效或者根本不能实施。
2.Insurable interest can be defined in CII textbook as the legal right to insure arising out of a financial relationship,recognized at law,between the insured and the subject matter of insurance.
英国特许保险学会编写的教材对可保险利益进行了定义：保险利益是指被保险人与保险标的之间因经济关系产生的合法权利，在法律上得到认可。
3.The term“insurable interest”means the legally recognized interest that the proposer or insured has in the subject matter of insurance.Personal insurance is insurance under which the subject matter of insurance is the life and body of a person.Property insurance is insurance under which the subject matter of insurance is property and related interests therein.
“保险利益”这一术语是指投保人或者被保险人对保险标的具有的法律上承认的利益。人身保险的投保人在保险合同订立时，对被保险人应当具有保险利益。财产保险的被保险人在保险事故发生时，对保险标的应当具有保险利益。
4.Thirdly,the insured must stand in a relationship with the subject matter of insurance whereby he benefits from its safety,well-being or freedom from liability and would be prejudiced by its danger or the existence of liability.
第三，被保险人与保险标的必须处在紧密关系之中，即保险标的安全、完好无损或没有发生责任事故，他就会从中受益；如果标的危险或存在责任事故，他将受到伤害。
5.The proposer's insurable interest to the subject matter of insurance is limited to the maximum sum insured.
投保人对保险标的的保险利益以最高保险金额为限。
6.The insured cannot obtain the excess payment from the insurer because of the accident loss of the subject matter of insurance.
被保险人不能因为保险标的发生事故而从保险人获得超额的赔偿。
7.Other family members or close relatives,apart from the above mentioned,who have relations of fostering,supporting and maintaining with the applicant exist insurable interest.
除了上述提及的之外，其他家庭成员或近亲属与投保人有抚养、支撑和维持的关系的人具有保险利益。
8.In Harse V.Pearl Life Assurance Co.(1904)in UK,an insurance policy by the plaintiff on the life of his mother was held to be illegal for lack of insurable interest,with the consequence that he could not recover the premiums which he had paid.
1904年（英国），在哈斯起诉明珠人寿保险公司一案中，法庭认为原告给他母亲购买的人寿保险因缺乏保险利益而无效，他缴纳的保险费也不能退回。
9.In property insurance,insurable interest often arises out of ownership where the insured is the owner of the subject matter of insurance.
在财产保险中，保险利益因所有权存在而产生。在所有权中，被保险人就是保险标的的业主。
10.In liability insurance,a person has insurable interest to the extent of any potential legal liability he may incur by way of damages and other costs.
在责任保险中，投保人的保险利益是发生损失和其他费用应承担的潜在法律责任。
11.But in a practical situation,liability to pay damages is based largely on legal precedents.
但是在实际情况中，支付损失赔偿费的责任主要根据法律的判例来决定。
12.For example,claims for personal injury are different from claims for damages to property because the law cannot place a figure on the value of a particular injury that would be acceptable to everybody.
例如，人身伤害的索赔不同于财产损失的索赔，因为法律不能确定某一特定伤害的具体数额，让每一个人都能够接受。
13.It is difficult for us to assess the value of the loss of an eye or an arm.Therefore any valuation is bound to be arbitrary.
我们很难确定失去一只眼睛或一个胳臂的价值是多少。因此，任何评估都具有武断性。
14.This figure is not fixed in case of specific injuries being met,for example,10 000 Yuan for an arm and 20 000 Yuan for an eye.The courts simply use previous cases as guidelines so that similar degrees of injury are awarded similar sums in damages.
这个数字不是固定在特定情况下遇到的伤害，例如，失去一个胳膊赔偿一万元，失去一只眼睛赔偿两万元。法庭只是把以往的案例作为指导原则进行裁决，类似的伤害程度裁决以类似的金额作为赔偿金。
15.This follows from the customs of maritime trading that cargo may change ownership while it is in transit.The marine insurance policy is one of the essential documents in the transfer of title in such cases,and the buyer of goods is permitted to have a legitimate insurable interest in the goods from the time of transfer even though he did not have an interest when the policy was issued.
根据海上运输贸易的惯例，货物在运输期间可以变更所有权。海上保险单是产权转移中最基本的文件之一。即使保险单签发时，货物的买主对货物没有保险利益，但是货物的买主被容许对货物进行转移时，对货物具有保险利益。
16.Being incapable of making a will to his heir or inheritor because of incurable lunacy,no one will deny that his heir-at-law has moral certainty of succeeding to the estate.
鉴于无法医治的精神病而无法立遗嘱，没有人否认他的法定继承人确实能继承遗产。
17.However,if you deliberately set fire to your own house or destroy the car,you will gain no benefit from the fire policy or motor policy if your criminal act comes to light.
然而，如果你故意放火烧毁自己的房子，或者毁坏汽车，并且你的犯罪行为被发现，那么你就不可能从火灾保险单中得到利益。
18.Generally speaking,the amount of insurable interest must be capable of financial valuation.
一般来讲，保险利益的金额必须通过财务评估。
19.Any assignment or transfer of that policy from one person to another will cause problems as the new holder of the policy may not have the same insurable interest.
保险单从一个人手中转让到另一个人手中可能造成许多问题，因为新的保单持有人可能没有相同的保险利益。
20.Assignment of policy referring to transfer of rights can be carried out.
如果保险单转让指的是保险单权利的转让，那么它是能够进行的。
1.Give the definition of insurable interest.
2.What are the four features essential to insurable interest?
3.Tell the difference between insurance and gambling.
4.Why can we say everyone has unlimited insurable interest in his own life?
5.What is the insurable interest in liability insurance?
6.Why do insurance companies seek reinsurance?
7.Why may any assignment or transfer of that policy from one person to another cause problems?
8.If a person who has no insurable interest to the subject matter of insurance can obtain the indemnity from the insurer,what would he possibly do?
1.A person or group in whose name an in-surance policy is held
2.An organization founded for a religious, educational,professional,or social purpose
3.A person,country,or organization that owes mone.
4.(Of an insurer)transfer(all or part of a risk)to another insurer to provide protection against the risk of the first insurance
5.A person who inherits something; an heir
6.Play games of chance for money;bet
7.A person or company to whom money is owing
8.An earlier event or action that is regar-ded as an example or guide to be consid ered in subsequent similar circumstances
9.The state of thinking or hoping that something,especially something good,will happen
10.A body of people presided over by a judge,judges,or magistrate, and acting as a tribunal in civil and criminal cases
1.expectancy( )
2.debtor( )
3.policyholder( )
4.precedent( )
5.gambling( )
6.institution( )
7.creditor( )
8.reinsurance( )
9.court( )
10.inheritor( )
1.Insurable interest is the basic requirement of a contract of insurance.( )
2.Insurable interest can be defined as the legal right to insure arising out of a financial relationship,recognized at law,between the insured,the insurer and the subject matter of insurance.( )
3.There are at least four features essential to insurable interest.( )
4.The law imposes the insurable interest on both parties(insurer and insured)to a certain subject matter of insurance in order to avoid gambling.( )
5.Moral hazard concerns the human aspects that may influence the outcome.This usually refers to the attitude of the insurer.( )
6.Accordingly,a creditor stands to lose money if the debtor dies before repaying the loan.Therefore an insurable interest is arisen to the extent of the loan plus interest.( )
7.Mortgagees and mortgagors both have insurable interest,the purchaser as the owner of the house and the building society or bank as the debtor.( )
8.In marine insurance contract,the insured must be interested in the subject matter insured before the time of loss.( )
9.In life assurance,insurable interest is only required at inception.The interest need only be valued at the beginning and so there is no requirement for insurable interest at the time of a claim.( )
10.These bailees including pawnbrokers,launderers and watch repairs are not responsible to take reasonable care of the properties and not to look after them just as their own.( )
1.Insurable interest is the legal right to insure arising out of a financial relationship,recognized at law,between_____and the subject matter of insurance.
A.the insurer
B.the insured
C.the applicant
D.the proposer
2.In property insurance,insurable interest often arises out of_____where the insured is the owner of the subject matter of insurance.
A.ownership
B.relationship
C.property
D.life
3.Another example is that mortgages,which are most common in the area of house purchase,involve the bank and purchaser.Here the bank is regarded as the_____.
A.mortgagor
B.mortgagee
C.mortgage
D.debtor
4.In a practical situation,liability to pay damages is based largely on_____.
A.the requirement of the victim
B.claims by the client
C.the calculation by the insurer
D.legal precedents
5.In marine insurance contract,the insured must be interested in the subject matter insured_____.
A.at the time of loss
B.before the time of loss
C.at the inception
D.at the beginning
6.Life insurance is different from marine insurance.Insurable interest in life insurance is only required_____.
A.at the time of loss
B.after the time of loss
C.at the inception
D.at the end of the loss
7.Insurance companies have insurable interest in their liability to pay claims to insureds.This interest gives them the right to seek_____.
A.protection
B.reinsurance
C.insurance
D.prevention
8.However,if the property or goods are destroyed,the expectancy to that legal right is defeated.Therefore this expectancy to profit is_____.
A.insurable
B.uninsurable
C.certain
D.uncertain
9.Lawful possession of property normally has insurable interest if that possession is accompanied by_____.
A.interest
B.right
C.responsibility
D.capacity
10.In general,assignment of personal contracts will only be valid with the consent of the_____.
A.insured
B.applicant
C.proposer
D.insurer
1.There are at least four features essential to insurable interest.Firstly,there must be some property,right,interest,life,limb or potential liability capable of being insured.Secondly,such property,right,interest,etc must be the subject matter of insurance.Thirdly,the insured must stand in a relationship with the subject matter of insurance whereby he benefits from its safety,well-being or freedom from liability and would be prejudiced by its danger or the existence of liability.And finally,the relationship between the insured and the subject matter of insurance must be recognized at law.
2.It is impossible to assess the value of the loss of an eye or an arm.Any valuation is bound to be arbitrary.The courts have designed a figure of compensation based on previous case law.This figure is not fixed in case of specific injuries being met,for example,10 000 Yuan for an arm and 20 000 Yuan for an eye.The courts simply use previous cases as guidelines so that similar degrees of injury are awarded similar sums in damages.
1.当我们谈到保险的时候，我们经常谈到可保利益。
2.投保人对保险标的的保险利益只限于保险金额。
3.在海上保险合同中，被保险人必须在损失发生时对保险标的具有保险利益。
4.在人寿保险合同中，只要求被保险人在开始时具有保险利益。
5.投保人对自己、配偶、孩子以及父母具有保险利益。
6.保险公司对于向被保险人支付赔偿的责任具有保险利益。
7.在人寿保险中，只需要被保险人在投保时具有保险利益。
8.一般来讲，人身保险合同的转让只有征得保险人的同意后才有效。
A visitor came to Shanghai for sightseeing during a holiday.After he visited the Tower of Eastern Pearl,he went to the insurance company and made an offer that he wanted to pay premium to cover the Tower in order to protect the property.Do you think the local insurance company agrees to accept his offer?