Responsibility for Risk: Perspectives on Liability Insurance

This seminar will explore the intellectual foundations of the institution of insurance, including the following key questions: How is insurance to be conceived: from a contract perspective? a tort perspective? a private governmental perspective? Correlatively, what are the economic and ethical dimensions of risk classifications and management? How serious are the concerns about moral hazard and adverse selection---core concepts of insurance law? What standards should be used to resolve insurance bad faith claims? And, when a party is sued and the liability insurer controls the party's defense, how should the defense lawyer hired by the insurer navigate---and conceive of---this triangular relationship? The pervasive role of insurance in addressing societal concerns about accidental harm is vitally important but has been remarkably under-examined in the traditional law school curriculum. Special Instructions: Grades will be based on class attendance, class participation, and either several short reflection papers (section (01)) or an independent research paper (section (02)). After the term begins, students accepted into the course can transfer from section (01) into section (02), which meets the R requirement, with consent of the instructor. Students taking the course for R credit can take the course for either 2 or 3 units, depending on paper length. Elements used in grading: Class participation, class attendance, reflection papers or research paper. Early drop deadline.