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Science 2 October 1987:
Vol. 238. no. 4823, pp. 31 - 36
DOI: 10.1126/science.3659901
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Articles

Science, Vol 238, Issue 4823, 31-36
Copyright © 1987 by American Association for the Advancement of Science

articles

Injury litigation and liability insurance dynamics

P Huber

Manhattan Institute for Policy Research, New York, NY 10012.

Prices for some lines of liability insurance have increased sharply in recent years, even while the real amount of coverage provided has declined. What accounts for these changes? The large financial inertia inherent in the insurance business, forecasting errors repeated across the industry, and herd-like reactions among many insurers have made the market adjustments exceptionally abrupt. But the most likely underlying cause for the current crisis in liability insurance is the inexorable expansion in liability law.


THIS ARTICLE HAS BEEN CITED BY OTHER ARTICLES:
Risk Havens: Offshore Financial Centres, Insurance Cycles, the 'Litigation Explosion' and a Social Democratic Alternative.
A. B. Van Fossen (2002)
Social Legal Studies 11, 503-521
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A Survey of Sued and Nonsued Physicians and Suing Patients.
R. S. Shapiro, D. E. Simpson, S. L. Lawrence, A. M. Talsky, K. A. Sobocinski, and D. L. Schiedermayer (1989)
Arch Intern Med 149, 2190-2196
   Abstract »    PDF »


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