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Author: Eric Marsden
Publisher: FonCSI
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 57
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Book Description
This document provides a short literature review on the complementarity (and antagonisms) between liability rules, safety regulation and insurance and their effect on safety management. It draws on a range of disciplines, with a focus on economic analysis of law and regulation theory. Some of the issues discussed are rather complex; this document attempts to provide simple explanations together with references to the professional literature for the interested reader. Some issues are the subject of ongoing debate between scholars; in such situations, we have attempted to present the various points of view. The document provides background information concerning the topics discussed during the NeTWork'2012 workshop, and draws on some of the contributions of workshop participants and the rich discussion which took place during the three days. The first chapter presents issues related to regulation, starting with the classical economic justifications for state intervention (presence of externalities, information failures and moral hazard). A number of obstacles to the effectiveness of safety regulation are presented. Finally, some alternatives or complements to regulation, including self-regulation, are briefly discussed. The second chapter presents an overview of liability law, starting with some introductory definitions. Factors which weaken the effectiveness of liability as an incentive to invest in prevention are discussed, as are negative effects of liability regimes on safety management. A number of case studies illustrating the liability of regulators are briefly presented. Chapter 3 discusses the impact of insurance and reinsurance on firms' and individuals' safety management. The last chapter briefly analyzes firms and individuals' sources of motivation to take care.
Author: Eric Marsden
Publisher: FonCSI
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 57
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Book Description
This document provides a short literature review on the complementarity (and antagonisms) between liability rules, safety regulation and insurance and their effect on safety management. It draws on a range of disciplines, with a focus on economic analysis of law and regulation theory. Some of the issues discussed are rather complex; this document attempts to provide simple explanations together with references to the professional literature for the interested reader. Some issues are the subject of ongoing debate between scholars; in such situations, we have attempted to present the various points of view. The document provides background information concerning the topics discussed during the NeTWork'2012 workshop, and draws on some of the contributions of workshop participants and the rich discussion which took place during the three days. The first chapter presents issues related to regulation, starting with the classical economic justifications for state intervention (presence of externalities, information failures and moral hazard). A number of obstacles to the effectiveness of safety regulation are presented. Finally, some alternatives or complements to regulation, including self-regulation, are briefly discussed. The second chapter presents an overview of liability law, starting with some introductory definitions. Factors which weaken the effectiveness of liability as an incentive to invest in prevention are discussed, as are negative effects of liability regimes on safety management. A number of case studies illustrating the liability of regulators are briefly presented. Chapter 3 discusses the impact of insurance and reinsurance on firms' and individuals' safety management. The last chapter briefly analyzes firms and individuals' sources of motivation to take care.
Author: J. David Cummins
Publisher: Rowman & Littlefield
ISBN: 9780815798415
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
Over the past two decades, the United States has successfully deregulated prices and restrictions on most previously-regulated industries, including airlines, trucking, railroads, telecommunications, and banking. Only a few industries remain regulated, the largest being the property-liability insurance business. In light of recent sweeping financial modernization legislation in other sectors of the insurance industry, this timely volume examines the basis for continued regulation of rates and forms of the U.S. property-liability insurance market. The book focuses on private passenger automobile insurance—the most important personal line of property-liability coverage, with annual premiums of about $120 billion. The authors analyze five state case studies: California, Massachusetts, and New Jersey—three of the most heavily regulated states—as well as Illinois, which has been deregulated for about 30 years, and South Carolina, which began to deregulate in 1997. The study also includes an econometric analysis based on all fifty states over a 25-year period that gauges the impact of regulation on insurance price levels, price volatility, and the proportion of automobiles insured in residual markets. The authors conclude that regulation does not significantly reduce long-run prices for consumers, and generally limits availability of coverage, reduces the quality and variety of services available in the market, inhibits productivity growth, and increases price volatility. Contributors include Dwight Jaffee (University of California, Berkeley), Thomas Russell (Santa Clara University ), Laureen Regan (Temple University), Sharon Tennyson (Cornell University), Mary Weiss (Temple University), John Worrall (Rutgers University), Stephen D'Arcy (University of Illinois, Urbana-Champaign), Martin Grace (Georgia State University), Robert Klein (Georgia State University), Richard Phillips (Georgia State University), Georges Dionne (University of Montreal), and Richard Butler (Brigham Young University).
Author: Lawrence D. Cluff
Publisher: DIANE Publishing
ISBN: 0788186701
Category :
Languages : en
Pages : 187
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Book Description
Author: John H. Mathias
Publisher: Law Journal Press
ISBN: 9781588520951
Category : Business & Economics
Languages : en
Pages : 716
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Book Description
This book examines such topics as: the risks officers and directors face, derivative and class actions, and when a corporation is required--or allowed-- to provide indemnification.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264082921
Category :
Languages : en
Pages : 251
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Book Description
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Author: Mark Kendall
Publisher: Globe Law and Business Limited
ISBN: 9781905783670
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Featuring chapters from Uría Menéndez, Deneys Reitz Inc and Minter Ellison, this first edition covers key issues that can arise in relation to product regulation, recall, liability and insurance coverage in a number of jurisdictions in Europe, North America, South America and Asia.
Author: Kenneth S. Abraham
Publisher:
ISBN: 9781609304010
Category : Insurance law
Languages : en
Pages : 0
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Book Description
This casebook, which has been used as the principal text in more than one hundred law schools, contains extensive material on insurance contract formation and interpretation; insurance regulation; insurable interest and liability for bad-faith breach; property, health, life, and disability insurance; commercial general liability and directors & officers liability insurance; auto insurance; and reinsurance. The casebook gives equal emphasis to personal and commercial insurance, and reprints within the relevant chapters four standard-form insurance policies. There is new material on the interpretation of ambiguities, insurance regulation, the Affordable Care Act, directors & officers insurance, and excess coverage.
Author: John S. Diaconis
Publisher:
ISBN: 9781402406157
Category : Insurance law
Languages : en
Pages : 0
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Book Description
Reinsurance Law minimizes that peril by showing you how to structure sound agreements more easily and inexpensively.
Author: J. David Cummins
Publisher: Springer
ISBN: 9789401577557
Category : Business & Economics
Languages : en
Pages : 150
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Book Description
Property-liability insurance rates for most lines of business are regulated in about one-half of the states. In most cases, this me ans that rates must be filed with the state insurance commissioner and approved prior to use. The remainder of the states have various forms of competitive rating laws. These either require that rates be filed prior to use but need not be approved or that rates need not be filed at all. State rating laws are summarized in Rand Corporation (1985). The predominant form of insurance rate regulation, prior approval, began in the late 1940s following the V. S. Supreme Court decision in United States vs. South-Eastern Underwriters Association, 322 V. S. 533 (1944). This was an anti trust case involving one of four regional associa tions of insurance companies, which constituted an insurance cartel. The case struck down an earlier decision, Paul vs. Virginia, 8 Wall 168 (1869), holding that the business of insurance was not interstate commerce and hence that state regulation of insurance did not violate the commerce clause of the V. S. Constitution. Following South-Eastern Underwriters, the Vnited States Congress passed the McCarran-Ferguson Act, which held that continued state regulation and taxation of insurance was in the public interest. The act also held that the federal antitrust laws would not apply to insurance to the extent that the business was adequately regulated by state law. (See V. S. Department of Justice 1977.
Author:
Publisher:
ISBN: 9781629803050
Category :
Languages : en
Pages :
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Book Description
