Business Commons^™

Uncertainty > Risk: Lessons For Legal Thought From The Insurance Runoff Market, Tom Baker

All Faculty Scholarship

Insurance ideas inform legal thought: from tort law, to health law and financial services regulation, to theories of distributive justice. Within that thought, insurance is conceived as an ideal type in which insurers distribute determinable risks through contracts that fix the parties’ obligations in advance. This ideal type has normative appeal, among other reasons because it explains how tort law might achieve in practice the objectives of tort theory. This ideal type also supports a restrictive vision of liability-based regulation that opposes expansions and supports cutbacks, on the grounds that uncertainty poses an existential threat to insurance markets.

Prior work …

The Changing Nature Of Long-Term Care In Maine, Paul Saucier, Julie Fralich

Maine Policy Review

The increase in the proportion of older adults, many with one or more chronic medical conditions, will increase the demand for long-term care. Paul Saucier and Julie Fralich discuss the socio-demographic factors affecting long-term care policy, and describe various state and federal options for providing and financing long-term care. They note that Maine’s long-term care system has so far been able to absorb considerable growth in people by serving increasing numbers in lower-cost settings. Cost sharing has been introduced, and tax policy has been changed to provide incentives for long-term care insurance. Policymakers must now consider whether the current balance …