Abstract
Since implemented on July 1, 1993, the Maritime Code of the People's Republic of China has played an irreplaceable role in adjusting the legal relationship in maritime commerce. In recent years, great changes have taken place in the practice of international shipping. To further meet the practical needs of international shipping and judicial practice, the revision of the Maritime Code of the People's Republic of China (for short is CMC) has been put on the agenda officially. The obligation of disclosure occupies an important position in the entire marine insurance legal system, and has continuously changed and evolved over hundreds of years. As the birthplace of marine insurance law, the United Kingdom passed a new insurance law in 2015, named as Insurance Act (IA2015), abolishing the unlimited notification mode for the insured existed for more than 100 years, and introducing a fair presentation obligation and related relief mechanism, which can be described as a revolutionary measure. At present, China's marine insurance is booming, and marine insurance activities need to be guided by accurate, mature and complete legal provisions. Research on the reform of the disclosure obligation model combined with the development of the British insurance law, clarifying its connotation and specific content is helpful to promote relevant adaptation in China, and has important theoretical significance and practical value for revising relevant sections of CMC.
Highlights
Since the implementation of the CMC, it has played a vital role in the equal protection of the legal interests of the parties concerned, keeping the international shipping order, and promoting PRC trade and economic development
CMC has been lagging to some extent in recent years, compared with development of the society, the formulation and revision of international conventions, improving the domestic legal system, the changes in shipping trade practices, and the demand for judicial practice. [1]
Disclosure obligation is one of the core of marine insurance rules and plays an important role in marine commercial activities. It requires the disclosure of information affecting insurance matters, which can ensure the stability of the legal relationship of marine insurance contracts
Summary
Since the implementation of the CMC, it has played a vital role in the equal protection of the legal interests of the parties concerned, keeping the international shipping order, and promoting PRC trade and economic development. Disclosure obligation is one of the core of marine insurance rules and plays an important role in marine commercial activities First of all, it requires the disclosure of information affecting insurance matters, which can ensure the stability of the legal relationship of marine insurance contracts. Under the premise of significant changes in the duty of disclosure system, to ensure that the revision of CMC is better in line with international standards, it is necessary to study how to learn from the development experience of Britain in the current legal environment. With the changes in international maritime conventions, standard contracts and other shipping rules in recent years, CMC should continue to maintain an open and inclusive attitude, actively absorb the beneficial and reasonable parts and should be further amended. Li Junfeng et al.: Study on Revision of Disclosure Obligation Under Marine Insurance Clauses in Chinese Maritime Law review within the year. Li Junfeng et al.: Study on Revision of Disclosure Obligation Under Marine Insurance Clauses in Chinese Maritime Law review within the year. 2 Nowadays, the research on the revision of CMC is in full swing
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