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Articles 1 - 8 of 8
Full-Text Articles in Insurance
Mutually Assured Protection Among Large U.S. Law Firms, Tom Baker, Rick Swedloff
Mutually Assured Protection Among Large U.S. Law Firms, Tom Baker, Rick Swedloff
All Faculty Scholarship
Top law firms are notoriously competitive, fighting for prime clients and matters. But some of the most elite firms are also deeply cooperative, willingly sharing key details about their finances and strategy with their rivals. More surprisingly, they pay handsomely to do so. Nearly half of the AmLaw 100 and 200 belong to mutual insurance organizations that require member firms to provide capital; partner time; and important information about their governance, balance sheets, risk management, strategic plans, and malpractice liability. To answer why these firms do so when there are commercial insurers willing to provide coverage with fewer burdens, we …
Transparency Through Insurance: Mandates Dominate Discretion, Tom Baker
Transparency Through Insurance: Mandates Dominate Discretion, Tom Baker
All Faculty Scholarship
This chapter describes how liability insurance has contributed to the transparency of the civil justice system. The chapter makes three main points. First, much of what we know about the empirics of the civil justice system comes from access to liability insurance data and personnel. Second, as long as access to liability insurance data and personnel depends on the discretion of liability insurance organizations, this knowledge will be incomplete and, most likely, biased in favor of the public policy agenda of the organizations providing discretionary access to the data. Third, although mandatory disclosure of liability insurance data would improve transparency, …
The Missing Monitor In Corporate Governance: The Directors' And Officers' Liability Insurer, Tom Baker, Sean J. Griffith
The Missing Monitor In Corporate Governance: The Directors' And Officers' Liability Insurer, Tom Baker, Sean J. Griffith
All Faculty Scholarship
This article reports the results of empirical research on the monitoring role of directors’ and officers’ liability insurance (D&O insurance) companies in American corporate governance. Economic theory provides three reasons to expect D&O insurers to serve as corporate governance monitors: first, monitoring provides insurers with a way to manage moral hazard; second, monitoring provides benefits to shareholders who might not otherwise need the risk distribution that D&O insurance provides; and third, the “bonding” provided by risk distribution gives insurers a comparative advantage in monitoring. Nevertheless, we find that D&O insurers neither monitor corporate governance during the life of the insurance …
Predicting Corporate Governance Risk: Evidence From The Directors' & Officers' Liability Insurance Market, Tom Baker, Sean J. Griffith
Predicting Corporate Governance Risk: Evidence From The Directors' & Officers' Liability Insurance Market, Tom Baker, Sean J. Griffith
All Faculty Scholarship
No abstract provided.
Offer-Of-Judgment Rules And Civil Litigation: An Empirical Study Of Automobile Insurance Litigation In The East, Tom Baker, Albert H. Yoon
Offer-Of-Judgment Rules And Civil Litigation: An Empirical Study Of Automobile Insurance Litigation In The East, Tom Baker, Albert H. Yoon
All Faculty Scholarship
No abstract provided.
An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery
An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery
All Faculty Scholarship
No abstract provided.
Developments In Law - Toxic Waste Litigation, Howard F. Chang
Developments In Law - Toxic Waste Litigation, Howard F. Chang
All Faculty Scholarship
No abstract provided.
The Insurance Classification Controversy, Regina Austin
The Insurance Classification Controversy, Regina Austin
All Faculty Scholarship
No abstract provided.