1Principles of Risk Management and Insurance風險管理與保險風險管理與保險Major ReferenceGEORGE E. REJDANinth Edition (2005)高應大金融系高應大金融系謝坤民謝坤民 編著編著2PART TWO Legal Principles in Risk and InsuranceChapter 5 Fundamental Legal PrinciplesChapter 6 Analysis of InsuranceContracts3Chapter5 Fundamental Legal Principles 法定基本原則法定基本原則(一一)Principles of Indemnity補償原則補償原則states that the insurer agrees to pay no more than the actual amount of the loss。 保險人所賠償之金額不超過真正之損失保險人所賠償之金額不超過真正之損失 金額。大部份之產物保險契約為損失補金額。大部份之產物保險契約為損失補 償契約。其目的有二個償契約。其目的有二個(1)prevent the insured from profiting from a loss預防被保險人不當得利預防被保險人不當得利(2)reduce moral hazard減少道德危險減少道德危險4(1)Actual Cash Value實際現金價值實際現金價值 which is defined as replacement cost less depreciation, supports the principle of indemnity since it is designed to prevent profiting from insurance 1.Replacement Cost less depreciation 2.Fair Market Value公平市價公平市價 (2)Exceptions to the principles of indemnity 例外例外 1.Valued Policy定值保單：定值保單：A valued policy pays the face amount in the event of a total loss. 全部損失發生以保險金額賠付全部損失發生以保險金額賠付 Thus, it is an exception to the principle of indemnity since the amount paid could be more than what the property is actually worth 52.Replacement Cost Insurance：Replacement cost insurance means there is no deduction for depreciation, which allows the insured to be made better off by receiving new property for old no deduction for depreciation 3.Life Insurance is a valued policy為定額保險為定額保險 A life insurance policy is also an exception to the principle of indemnity because it is a valued policy that pays a stated sum to the beneficiary upon the insureds death. It is difficult to determine accurately the value of a human life, and the amount paid may substantially exceed the economic value of the insureds life. The human life value approach gives a crude estimate of how much a persons life is worth, but few people insure their lives fully, and all losses are total. 6(二二)Principle of Insurable Interest保險利益原則保險利益原則Insured stands to lose financially if a loss occurs State that the insured must be in a position to lose financially if a loss occurs損失發生時損失發生時 被保險人有遭受財務上之損失。被保險人有遭受財務上之損失。An insurable interest is required in every insurancecontractinorder to prevent gambling, to reduce moral hazard, and to measure the amount of the insureds loss inproperty insurance. 7(1)Purposes of an Insurable Interest保保 險利益存在之目的險利益存在之目的1.To prevent gambling預防賭博行為預防賭博行為2.To reduce moral hazard 減少道德危減少道德危 險險3.To measure the amount of the Insureds loss in property insurance在財產保險中衡量被保險人之損失金在財產保險中衡量被保險人之損失金 額額8(2)Examples of an Insurable Interest1.Property and liability Insurance產物保險產物保險A.Ownership of property所有權所有權owners of property will lose financially if their property is damaged or destoryedB.Potential legal liability法律責任法律責任The firm may be legally liable for damage to customers goods cause by the firms negligenceC.Secured creditors債權關係債權關係A commercial bank that lends money to buy a house has an insurable interest in the property of mortgage9D.Contractual right契約權利契約權利 a business firm that contracts to purchase goods from abroad on the condition that they arrive safely has an insurable interest in the goods. 2.Life Insurance壽險壽險 A.Family or Marriage家庭或婚姻家庭或婚姻 a husband can purchase a life insurance policy on his wifes life and be named as beneficiary. B.Pecuniary interest金錢利益金錢利益 Even when there is no relationship by blood or marriage, one person may be financially harmed by the death of another. 10C.我國保險法第我國保險法第16條之規定條之規定要保人對於下列各人之生命或身體，有 保險利益：一、本人或其家屬。二、生活費或教育費所仰給之人。三、債務人。四、為本人管理財產或利益之人。11(3)When Must an Insurable Interest Exist？保險利益何時存在保險利益何時存在1.In property insurance：must exist at the time of the loss存在於損失發生時。存在於損失發生時。Reasons:A.most property insurance contracts are contracts of indemnity.B.you may not have an insurable interest in the property when the contract is first written but may expect to have an insurable interest in the future, at the time of possible loss. 122.In life insurance must be met only at the inception of the policy, not at the time of death存在於契約訂立時，而存在於契約訂立時，而 非被保險人死亡時。非被保險人死亡時。 Reason A.life insurance is not a contract of indemnity but is a valued policy that pays a stated sum upon the insureds death. B.the beneficiary has only a legal claim to receive the policy proceeds, the beneficiary does not have a show that a loss has been incurred by the insureds death.就算要保人與被保險人事後離婚，只要要保人就算要保人與被保險人事後離婚，只要要保人 繼續交付保費，且被保險人願意繼續當被保險繼續交付保費，且被保險人願意繼續當被保險 人，則當被保險人死亡時，則受益人仍然可以人，則當被保險人死亡時，則受益人仍然可以 領取保險金領取保險金(Proceed) 。13(三三)Principle of Subrogation代位求償原則代位求償原則 Insurer is entitled to recover from a negligent third party any loss payments made to the insured. Substitution of the insurer in place of the insured for the claiming indemnity from a third person for a loss covered by insurance承保損失承保損失 發生而被保險人對第三人有求償權發生而被保險人對第三人有求償權 ，