Insurance Law Commons^™

Protecting Consumers From Add-On Insurance Products: New Lessons For Insurance Regulation From Behavioral Economics, Tom Baker, Peter Siegelman

Faculty Scholarship

Persistently high profits on “insurance” for small value losses sold as an add-on to other products or services (such as extended warranties sold with consumer electronics, loss damage waivers sold with a car rental, and credit life insurance sold with a loan) pose a twofold challenge to the standard economic analysis of insurance. First, expected utility theory teaches that people should not buy insurance for small value losses. Second, the market should not in the long run permit sellers to charge prices that greatly exceed the cost of providing the insurance. Combining the insights of the Gabaix and Laibson shrouded ...

Regulation By Liability Insurance: From Auto To Lawyers Professional Liability, Tom Baker, Rick Swedloff

Faculty Scholarship

Liability insurers use a variety of tools to address adverse selection and moral hazard in insurance relationships. These tools can act on insureds in a manner that can be understood as regulation. We identify seven categories of such regulatory activities: risk-based pricing, underwriting, contract design, claims management, loss prevention services, research and education, and engagement with public regulators. We describe these activities in general terms and then draw upon prior literature to explore them in the context of five areas of liability and corresponding insurance: shareholder liability, auto liability, gun liability, medical professional liability, and lawyers’ professional liability. The goal ...

Disability Insurance In California, Jan Mark Dudman

Pepperdine Law Review

No abstract provided.

Public Policy And Aviation Liability Insurance, William E. Gibbs

Pepperdine Law Review

No abstract provided.

In California Excess Liability Cases, Does “Bad Faith” In Law Equal “Strict Liability” In Practice?, Roger D. Marlow, Ronald E. Magnuson

Pepperdine Law Review

No abstract provided.

The Iowa Unemployment Appeals Telephone Hearing Process, Bruce Graham

Journal of the National Association of Administrative Law Judiciary

No abstract provided.

Workers' Compensation: Alternatives Are Limited, Irvin Stander

Journal of the National Association of Administrative Law Judiciary

No abstract provided.

Financing Unemployment Insurance Appeals, M. S. Cerstvik

Journal of the National Association of Administrative Law Judiciary

No abstract provided.

The "Ensuing Loss" Clause In Insurance Policies: The Forgotten And Misunderstood Antidote To Anti-Concurrent Causation Exclusions, Christopher C. French

Nevada Law Journal

No abstract provided.

The Independent Medicare Advisory Committee: Death Panel Or Smart Governing?, Robert Coleman

Journal of the National Association of Administrative Law Judiciary

No abstract provided.

Legality And Constitutionality Of The Patient Protection And Affordable Health Care Act, Julie Marie Crouse

University of North Georgia Annual Research Conference

My paper, titled "Legality and Constitutionality of the Patient Protection and Affordable Health Care Act", analyzes potential problems with the legislation known more commonly as "Obamacare". Three main issues I have identified pertaining to the Act are: the tax penalty, issues with contraception, and the expansion of Medicaid. I have also analyzed the constitutionality of the Act and compared it to similar health care plans internationally.

Surrogacy And Insurance: The Call For Statutory Reform In Ohio, Sasha M. Swoveland

Journal of Law and Health

This Note examines the practice of excluding maternity services for surrogate mothers under insurance plans that cover maternity services. This Note also introduces two different surrogate arrangements and illustrates the different familial situations that may necessitate the use of a surrogate. Part II defines surrogacy and offers a general overview of the surrogacy process. Part III demonstrates that surrogates need insurance for pregnancy related services. It also argues that the exclusion of coverage for surrogates is pregnancy discrimination. Part IV explains why current legal remedies are insufficient to make surrogates whole. Part V analyzes the state of surrogacy examining Ohio ...

The Macroprudential Turn: From Institutional “Safety And Soundness” To “Systemic Stability” In Financial Supervision, Robert C. Hockett

Cornell Law Faculty Working Papers

Since the global financial dramas of 2008-09, authorities on financial regulation have come increasingly to counsel the inclusion of macroprudential policy instruments in the standard ‘toolkit’ of finance-regulatory measures employed by financial supervisors. The hallmark of this perspective is its focus not simply on the safety and soundness of individual financial institutions, as is characteristic of the traditional ‘microprudential’ perspective, but also on certain structural features of financial systems that can imperil such systems as wholes. Systemic ‘financial stability’ thus comes to supplement, though not to supplant, institutional ‘safety and soundness’ as a regulatory desideratum.

The move from primarily micro- ...

Segmented Settlements Are Not The Answer: A Response To Professor Squire’S Article, How Collective Settlements Camouflage The Costs Of Shareholder Lawsuits, Chris French

Chris French

In his recent article, Professor Richard Squire offers a provocative theory in which he claims the underlying claimants in shareholder litigation against corporate policyholders are overcompensated due to what he describes as “cramdown” settlements under which insurers are forced to settle due to the “duty to contribute” that arises under multi-layered directors and officers (D&O) insurance programs. He also offers a novel idea regarding how this problem could be fixed by what he refers to as “segmented” settlements in which each insurer and the policyholder would be allowed to settle separately and consider only its own interests in doing ...

The Gravitational Force Of Originalism, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

In part I of this essay, prepared for the Fordham conference on “The New Originalism and Constitutional Law,” I describe four aspects of the New Originalism: (1) The New Originalism is about identifying the original public meaning of the Constitution rather than the original framers intent; (2) The interpretive activity of identifying the original public meaning of the text is a purely descriptive empirical inquiry; (3) But there is also a normative tenet of the New Originalism that contends that the original public meaning of the text should be followed; (4) Distinguishing between the activities of interpretation and construction identifies ...

Who Won The Obamacare Case (And Why Did So Many Law Professors Miss The Boat)?, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

In this essay, prepared as the basis for the 2013 Dunwody Distinguished Lecture in Law at the Fredric G. Levin College of Law, University of Florida, I describe five aspects of the Supreme Court’s decision in NFIB v. Sebelius that are sometimes overlooked or misunderstood. (1) The Court held that imposing economic mandates on the people was unconstitutional under the Commerce and Necessary and Proper Clauses; (2) Whether viewed from a formalist or realist perspective, Chief Justice Roberts’ reasoning was the holding in the case; (3) The Court did not uphold the constitutionality of the individual insurance mandate under ...

Group Life And Health Ins. V. Royal Drug Co.: The Narrowing Exemption Of The Business Of Insurance From Federal Antitrust Scrutiny , Stanley K. Yamada Jr.

Pepperdine Law Review

No abstract provided.

Extending The Liability Of Insurers For Bad Faith Acts: Royal Globe Insurance Company V. Superior Court, Michael Tancredi

Pepperdine Law Review

No abstract provided.

Punitive Damages And The Drunken Driver, William C. Cooper

Pepperdine Law Review

A discussion of the history and theory of punitive damages which results in advocating their application in a drunk driving context after giving due consideration to the pros and cons of such a sanction. An analysis of case law will reveal the underlying rationale that has motivated certain jurisdictions in applying this severe penal approach in an attempt to deter and curtail the senseless destruction on our nation's highways as well as exploring the impetus behind those other jurisdictions that do not utilize the remedy of punitive damages. The culminating focus is on California's position in this regard ...

Essential Health Benefits And The Affordable Care Act: Law And Process, Nicholas Bagley, Helen Levy

University of Michigan Program in Law and Economics

Beginning in 2014, the Affordable Care Act (ACA) will require private insurance plans sold in the individual and small-group markets to cover a roster of “essential health benefits.” Precisely which benefits should count as essential, however, was left to the discretion of the Department of Health and Human Services (HHS). The matter was both important and controversial. HHS nonetheless announced its policy on essential health benefits by posting on its website a 13-page bulletin stating that it would allow each state to define essential benefits for itself by choosing a “benchmark” plan modeled on existing plans in the state. On ...