Insurance and the Law

14 Pages Posted: 18 Oct 2000

See all articles by Tom Baker

Tom Baker

University of Pennsylvania Carey Law School

Abstract

This very short paper, which was prepared as a proposed encyclopedia entry, argues that insurance may be uniquely tied up with the law. Social insurance and other public sector insurance arrangements are creatures of statute, governed through administrative law. Private sector insurance arrangements depend upon a well-functioning contract law and a regulated market. Insurance thoroughly dominates the field of tort law, especially with respect to the liabilities of individuals and small business. Moreover, because insurance institutions inevitably exert a regulatory force over their subjects, insurance must be understood as a complement to direct state regulation. Finally, some social theorists have argued that insurance has exerted a profound ideological force on law and regulation, as activities increasingly are governed through risk.

JEL Classification: K13, H10, N20

Suggested Citation

Baker, Tom, Insurance and the Law. Available at SSRN: https://ssrn.com/abstract=242026 or http://dx.doi.org/10.2139/ssrn.242026

Tom Baker (Contact Author)

University of Pennsylvania Carey Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States
215-746-2185 (Phone)

HOME PAGE: http://www.law.upenn.edu/cf/faculty/thbaker/

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