The Role of Insurance Brokers at the Formation Stage of Marine Insurance Contracts in China

Jinlei Zhang | OST Colloquium: Intermediaries in Shipping

During the formation of marine insurance contracts in China, a broker acting as an intermediary between assured and insurer plays an important role. This Article will focus mainly on legal issues about the legal statutes, duties, and rights of brokers. Due to the profound impacts brought by marine insurance law in the United Kingdom and the well-known practice of formation of insurance contracts in Lloyd’s, in order to make a comparable study of legal and practical issues regarding the role that an insurance broker plays during the formation stage in China and the United Kingdom, reference will be made to the U.K. practice and regulations.