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Full-Text Articles in Insurance

The Genetic Information Nondiscrimination Act (Gina): Public Policy And Medical Practice In The Age Of Personalized Medicine, Eric A. Feldman Dec 2011

The Genetic Information Nondiscrimination Act (Gina): Public Policy And Medical Practice In The Age Of Personalized Medicine, Eric A. Feldman

Faculty Scholarship at Penn Law

Survey data suggest that many people fear genetic discrimination by health insurers or employers. In fact, such discrimination has not yet been a significant problem. This article examines the fear and reality of genetic discrimination in the United States, describes how Congress sought to prohibit such discrimination by passing the Genetic Information Nondiscrimination Act of 2008 (GINA), and explores the implications of GINA for general internists and their institutions. It concludes that medical providers and health care institutions must be familiar with the general intent and specific terms of GINA, and should continue to collect genetic information that can contribute ...


The Law And Economics Of Liability Insurance: A Theoretical And Empirical Review, Tom Baker, Peter Siegelman Nov 2011

The Law And Economics Of Liability Insurance: A Theoretical And Empirical Review, Tom Baker, Peter Siegelman

Faculty Scholarship at Penn Law

We survey the theoretical and empirical literature on the law and economics of liability insurance. The canonical Shavell model predicts that, despite the presence of some ex ante moral hazard (care-reduction by insureds), liability insurance will generally raise welfare because its risk-spreading gains will likely be larger than its adverse effects on precautionary activities. We discuss the numerous features of liability insurance contracts that are designed to reduce ex ante moral hazard, and examine the evidence of their effects. Most studies conclude that these features work reasonably well, so that liability insurance probably does not generate substantial ex ante moral ...


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 ...


Health Insurance, Risk, And Responsibility After The Patient Protection And Affordable Care Act, Tom Baker Feb 2011

Health Insurance, Risk, And Responsibility After The Patient Protection And Affordable Care Act, Tom Baker

Faculty Scholarship at Penn Law

This essay explores the new social contract of healthcare solidarity through private ownership, markets, choice, and individual responsibility embodied in the Patient Protection and Affordable Care Act. This essay first explains the four main health care risk distribution institutions affected by the Act – Medicare, Medicaid, the individual and small employer market, and the large group market – with an emphasis on how the Act changes those institutions and how they are financed. The essay then describes the “fair share” approach to health care financing embodied in the Act. This approach largely rejects the actuarial fairness vision of what constitutes a fair ...


A New Deal In A World Of Old Ones, Theodore Ruger Jan 2011

A New Deal In A World Of Old Ones, Theodore Ruger

Faculty Scholarship at Penn Law

No abstract provided.