Insurance Law Commons^™

Enterprise Without Entities, Andrew Verstein

Michigan Law Review

Scholars and practicing lawyers alike consider legal entities to be essential. Who can imagine running a large business without using a business organization, such as a corporation or partnership? This Article challenges conventional wisdom by showing that vast enterprises—with millions of customers paying trillions of dollars—often operate without any meaningful use of entities.

This Article introduces the reciprocal exchange, a type of insurance company that operates without any meaningful use of a legal entity. Instead of obtaining insurance from a common nexus of contract, customers directly insure one another through a dense web of bilateral agreements. While often overlooked or …

The Regulation Of Specialty Policies In Life Insurance, Spencer L. Kimball, Jon S. Hanson

Michigan Law Review

Every entrepreneur is vitally concerned with selling methods. Success depends upon sales. Sales depend upon desire for the product. Desire for most products, including life insurance, is not inherent but is created by the efforts of the entrepreneur. In the case of life insurance, an effective job of creating the desire, i.e., of selling, is usually necessary to convince a prospective insurance buyer that over a long period he should allocate a significant portion of his income to the purchase of an intangible such as life insurance.

Kimball: Insurance And Public Policy, Albert A. Ehrenzweig

Michigan Law Review

A Review of Insurance and Public Policy. By Spencer L. Kimball.

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Acknowledgement--Who May Take--Competency Affected by Interest; Acknowledgement of Mortgage before Stockholder in Mortgage Corporation--Stockholder as Witness; Agency--Distinguished from Trust; Agency or Service--Telegraph Companies--Knowledge of Operator; Carrier--Refusal of Passenger to Pay Extra Fare--Assault by Conductor on Passenger While Enforcing the Company's Rules; Constitutional Law--Free Speech--Distribution of Circulars; Constitutional Law--Master and Servant--Weekly Payment of Wages; Constitutional Law--Municipal Corporations--Minimum Wage Law; Corporations--Partnership with an Individual; Corporations--Ultra Vires--Replevin Undertaking; Deed--Consideration--Bona Fide Purchaser; Eminent Domain--Appropriation of Railroad Property--compensation; Fraudulent Conveyances--Fraud on Creditors--Withholding Mortgage from Record; Fraudulent Conveyances--Loan by Wife to Husband; Garnishment--Rolling Stock--Rights of Garnishee; Guardian and Ward--Testamentary Guardian; Insurance--Pleading--Waiver--Failure of Notice and Proof--General and …