Open Access. Powered by Scholars. Published by Universities.®

Insurance Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 9 of 9

Full-Text Articles in Insurance

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver Jan 2019

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver

Faculty Scholarship at Penn Law

Forty years after the publication of the first systematic study of adverse medical events, there is greater access to information about adverse medical events and increasingly widespread acceptance of the view that patient safety requires more than vigilance by well-intentioned medical professionals. In this essay, we describe some of the ways that medical liability insurance organizations contributed to this transformation, and we catalog the roles that those organizations play in promoting patient safety today. Whether liability insurance in fact discourages providers from improving safety or encourages them to protect patients from avoidable harms is an empirical question that a survey ...


Medicare Secondary Payer And Settlement Delay, Eric Helland, Jonathan Klick Jul 2015

Medicare Secondary Payer And Settlement Delay, Eric Helland, Jonathan Klick

Faculty Scholarship at Penn Law

The Medicare Secondary Payer Act of 1980 and its subsequent amendments require that insurers and self-insured companies report settlements, awards, and judgments that involve a Medicare beneficiary to the Centers for Medicare and Medicaid Services. The parties then may be required to compensate CMS for its conditional payments. In a simple settlement model, this makes settlement less likely. Also, the reporting delays and uncertainty regarding the size of these conditional payments are likely to further frustrate the settlement process. We provide results, using data from a large insurer, showing that, on average, implementation of the MSP reporting amendments led to ...


The Shifting Terrain Of Risk And Uncertainty On The Liability Insurance Field, Tom Baker Feb 2011

The Shifting Terrain Of Risk And Uncertainty On The Liability Insurance Field, Tom Baker

Faculty Scholarship at Penn Law

Recent sociological and historical work suggests that insurance risks often are not reliably calculable, except in hindsight. Insurance is “an uncertain business,” characterized by competition for premiums that pushes insurers into the unknown. This essay takes some preliminary steps that extend this insight into the liability insurance field. The essay first provides a simple quantitative comparison of U.S. property and liability insurance premiums over the last sixty years, setting the stage to make three points: (1) liability insurance premiums have grown at a similar rate as property insurance premiums and GDP over this period, providing yet another piece of ...


The Relation Between Regulation And Class Actions: Evidence From The Insurance Industry, Eric Helland, Jonathan Klick Mar 2009

The Relation Between Regulation And Class Actions: Evidence From The Insurance Industry, Eric Helland, Jonathan Klick

Faculty Scholarship at Penn Law

Standard law and economics models imply that regulation and litigation serve as substitutes. We test this by looking at the incidence of insurance class actions as a function of measures of regulatory enforcement. We also look specifically at whether states with clear regulatory standards regarding the use of OEM parts experience less litigation over this issue. We find no evidence of substitution between regulation and litigation. We also examine the possibility that litigation is more frequent in states where regulators are more likely to be captured by industry interests, finding no support for this hypothesis either. Instead, litigation is more ...


Teaching Real Torts: Using Barry Werth's Damages In The Law School Classroom, Tom Baker Jul 2002

Teaching Real Torts: Using Barry Werth's Damages In The Law School Classroom, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


Reconsidering Insurance For Punitive Damages, Tom Baker Jan 1998

Reconsidering Insurance For Punitive Damages, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker Jan 1997

Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


On The Genealogy Of Moral Hazard, Tom Baker Jan 1996

On The Genealogy Of Moral Hazard, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


On Determining The Optimal Magnitude And Length Of Liability In Torts, Daniel L. Rubinfeld Jan 1984

On Determining The Optimal Magnitude And Length Of Liability In Torts, Daniel L. Rubinfeld

Faculty Scholarship

Comments on Patricia Danzon's study of tort reforms and the role of the government in private insurance markets. Risk associated with model-building process; Weakness of the study; Conclusion.