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Full-Text Articles in Insurance Law
In Defense Of The Restatement Of Liability Insurance Law, Tom Baker, Kyle D. Logue
In Defense Of The Restatement Of Liability Insurance Law, Tom Baker, Kyle D. Logue
Articles
The importance of liability law to the American system of justice, and to the US economy in general, are well known. Somewhat less well known, at least among non-lawyers, is the corresponding centrality of liability insurance. For most non-contractual legal claims for damages that are brought against individuals or firms, there is some form of liability insurance coverage. Such coverage, provided by state-regulated insurance companies, ranges from auto and homeowners’ policies (sold to consumers throughout the country) to commercial general liability policies (sold to businesses of all sizes) to professional liability policies of various sorts (including Directors and Officers coverage …
How Insurance Substitutes For Regulation, Omri Ben-Shahar, Kyle D. Logue
How Insurance Substitutes For Regulation, Omri Ben-Shahar, Kyle D. Logue
Articles
Legal regulation of behavior requires information. Acquiring information about the regulated party's conduct, setting benchmarks by which that conduct is measured, and establishing the correct scale of payoffs for violating or following regulation are costly and require expertise and motivation. Thus, economic theories of rulemaking are often based on the relative information advantages that different regulatory bodies have and how that information can be harnessed to enhance incentives and thereby improve welfare. Government regulators, on average, do not have informational advantages. They are not paid for performance and thus may lack adequate incentives. They are not disciplined by market forces …
The Tort Of Bad Faith In First-Party Insurance Transactions: Refining The Standard Of Culpability And Reformulating The Remedies By Statute, Roger C. Henderson
The Tort Of Bad Faith In First-Party Insurance Transactions: Refining The Standard Of Culpability And Reformulating The Remedies By Statute, Roger C. Henderson
University of Michigan Journal of Law Reform
This Article explores the common-law and statutory background of the tort of bad faith in first-party insurance situations analyzes the varying standards of culpability that have been developed by the courts and suggests a uniform statutory solution to the problems created by the varying standards. The statute also tailors the remedies more closely to the particular type of insurer wrongdoing. The proposed remedies recognize the dual nature of the insurer-insured relationship, that is, one based upon contract and tort concepts. Such a statute would eliminate many of the ambiguities and other deficiencies in the common law of those states that …
Appeal And Error - Bad Faith Of Counsel As A Basis For Granting A New Trial Where Fact That Defendant Was Insured Was Brought To Attention Of Jury, Raymond H. Rapaport
Appeal And Error - Bad Faith Of Counsel As A Basis For Granting A New Trial Where Fact That Defendant Was Insured Was Brought To Attention Of Jury, Raymond H. Rapaport
Michigan Law Review
It is generally agreed that the jury in a personal injury action should not be informed that the defendant is covered by indemnity insurance. The reasons for the rule are that the matter of insurance is irrelevant, and that the exposition of its existence is prejudicial. The jury is likely to grant more and larger verdicts for the plaintiff when it is known that an insurance company, rather than the individual defendant being tried, will have to pay the judgment. However, the fact that the defendant is insured reaches the jury in a multitude of ways. While direct evidence of …
Garnishment - Full Faith And Credit - Nature Of Principal Judgment, John N. Seaman
Garnishment - Full Faith And Credit - Nature Of Principal Judgment, John N. Seaman
Michigan Law Review
Plaintiff, appellee, sued an Illinois insurance company for legal services, and on the same day sued out a writ of garnishment against a Michigan debtor of the insurance company. Two days later the insurance company was dissolved in Illinois under the provisions of the Illinois Insurance Code, and an Illinois liquidator was vested with title to all of the insurance company's property, wherever located. The liquidator intervened in this case, claiming prior title to the garnishment debt, by virtue of the Illinois statute and judicial proceedings. Held, the commencement of the garnishment suit gave plaintiff a lien on the …
International Law - Recognition Of Soviet Russia - Extraterritorial Effect Of Decrees Of Confiscation And Nationalization
Michigan Law Review
The Moscow Fire Insurance Company, the Northern Insurance Company of Moscow, and the First Russian Insurance Company were incorporated in Russia under the Czarist regime, and given authority to do business in New York. Deposits were made in New York for the benefit of policy holders and creditors in this country. Subsequent to the revolution in Russia and the Soviet decrees nationalizing all Russian corporations and confiscating without compensation such corporations' assets in Russia and abroad, these deposits were turned over to the New York State Insurance Commissioner for liquidation. Large sums remained after domestic claims were satisfied and the …
Constitutionality Of Teachers' Pensions Legislation Ii:The Validity Of The Proposed Michigan Law, Continued, Horace L. Wilgus
Constitutionality Of Teachers' Pensions Legislation Ii:The Validity Of The Proposed Michigan Law, Continued, Horace L. Wilgus
Michigan Law Review
We considered the constitutionality of Sections I, and II, of the proposed act in the former paper.
Constitutionality Of Teachers' Pensions Legislation Ii: The Validity Of The Proposed Michigan Law, Horace L. Wilgus
Constitutionality Of Teachers' Pensions Legislation Ii: The Validity Of The Proposed Michigan Law, Horace L. Wilgus
Michigan Law Review
In the preceding paper, we considered pension legislation in general -- its extent, forms, purpose, and relation to the taxing power of the state and nation. It is proposed in this paper to discuss in detail the provisions of the proposed Michigan teachers' pension law in the light of the general principles, set forth in the former paper, with reference to specific constitutional provisions, and the decisions of the courts upon-the validity of pensions for firemen and policemen which are similar in many respects to teachers' pension systems, together with such decisions as have been made concerning the constitutionality of …