Contents
Publication Date:
16 Mar 2023
Page Range:
v–vii
Free access

Providing a comprehensive overview of the body of law that regulates the insurance business, this Advanced Introduction evaluates the governing principles, policies, values, and purposes of insurance legislation and related judicial doctrines. It examines the ways in which the industry's origins help us understand the present, and how insurance connects to major public policy issues that will shape the world for future generations.

  • Preface viii

  1. 1Introduction to insurance law 1
  2. 2The purpose, meaning, and roles of insurance 4
    1. 2.1Risk: its nature and strategies for managing it 4
    2. 2.2Why insurance matters 13
    3. 2.3Defining insurance 15
    4. 2.4Roles of insurance beyond risk spreading 19
  3. 3Conceptualizing insurance 24
    1. 3.1The “special kind of contract” formulation 24
    2. 3.2Insurance as product 27
    3. 3.3Insurance as public utility 28
    4. 3.4Insurance as private governance 30
    5. 3.5Implications of the different conceptions 31
  4. 4The nature of the insurance business 32
    1. 4.1The origins and rise of insurance 32
    2. 4.2Types of insurance 36
    3. 4.3Insurance distribution and marketing 41
    4. 4.4Insuring entities 43
    5. 4.5Alternative risk management arrangements 44
  5. 5The nature of insurance law and regulation 48
    1. 5.1Insurance law as a form of private law 48
    2. 5.2Regulatory entities 50
    3. p. vi5.3Rationales for insurance regulation 52
    4. 5.4Methods of insurance regulation 54
  6. 6Elements of an insurance contract 56
    1. 6.1Overview 56
    2. 6.2Declarations page 56
    3. 6.3Parties and interests 57
    4. 6.4Insuring agreement, coverage grants, exclusions, and definitions 59
    5. 6.5Limits, deductibles, and coinsurance 61
    6. 6.6Binders 63
    7. 6.7Policyholder's obligations 64
    8. 6.8Insurer's obligations 66
  7. 7Fundamental assumptions of insurance (and their limits) 69
    1. 7.1Fortuity 69
    2. 7.2Insurable interest 72
    3. 7.3Indemnity 76
  8. 8Insurance as agreement: the influence of contract law 86
    1. 8.1Reasonable expectations 86
    2. 8.2Interpretation 89
    3. 8.3Misrepresentation (and breach of warranty) 93
    4. 8.4Waiver and estoppel 96
    5. 8.5Remedies for nonperformance 97
  9. 9Scope of coverage: the boundaries of the insurer's obligation 101
    1. 9.1Policy text: boundaries described by words and phrases 101
    2. 9.2Intentionally caused loss and the meaning of “accident” 105
    3. 9.3Causation 111
  10. p. vii10Liability insurance: indemnity, defense, and settlement obligations 116
    1. 10.1The relationship between tort liability and liability insurance 117
    2. 10.2The duty to indemnify and the duty to defend 119
    3. 10.3Determining when a duty to defend exists 121
    4. 10.4Potential tension between the insurer's and insured's interests 124
    5. 10.5Settlement obligations 127
    6. 10.6Coverage: some recurring questions and issues 129
    7. 10.7Remedies for insurer's breach of defense and settlement obligations 135
  11. 11Challenges in a changing world: why insurance matters (reprise) 137
    1. 11.1Difficult risks and catastrophic loss 137
    2. 11.2Technology and cyber-risk 139
    3. 11.3Risk classification: discriminating or discriminatory? 141
    4. 11.4Insurance and motor vehicles 145
    5. 11.5Insurance, order, and social regulation 148

  • Index 153

Cover Advanced Introduction to Insurance Law
Advanced Introduction to Insurance Law
Publication Date:
16 Mar 2023
Print ISBN:
9781800884212
eISBN:
9781800884229
DOI:
https://doi.org/10.4337/9781800884229
Page Count:
170
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Front Matter
1 Introduction to insurance law
2 The purpose, meaning, and roles of insurance
3 Conceptualizing insurance
4 The nature of the insurance business
5 The nature of insurance law and regulation
6 Elements of an insurance contract
7 Fundamental assumptions of insurance (and their limits)
8 Insurance as agreement: the influence of contract law
9 Scope of coverage: the boundaries of the insurer's obligation
10 Liability insurance: indemnity, defense, and settlement obligations
11 Challenges in a changing world: why insurance matters (reprise)
Back Matter