In the past few years the insurance community has paid increasing attention to the “protection gap”—the extent to which significant property losses are not covered by insurance. Because insurance plays an important economic and social role in many ways, the protection gap is significant to...

In the past few years the insurance community has paid increasing attention to the concept of “protection gaps”—the extent to which significant losses are not covered by insurance. Homeowners insurance is a key area in which these discussions have occurred, particularly as natural...

Inherent Defects Insurance (IDI) for new housing buildings is mandatory in Spain since 2000. The instauration of this legal requirement prompted an upsurge in the IDI market in the following years. Being confronted with competition, major insurance carriers active in that market promoted a...

Using a unique data set, we test whether households' deductible choices in auto and home insurance reflect stable risk preferences. Our test relies on a structural model that assumes households are objective expected utility maximizers and claims are generated by household-coverage specific...

This article argues that the enforcement in England in Re New Cap Reinsurance Corporation of an Australian monetary judgment rendered under Australian insolvency law does not sit easily with the Foreign Judgments (Reciprocal Enforcement) Act 1933. This is because the Foreign Judgments...

The principle of uberrima fidei or utmost good faith is one of the hallmarks of insurance law and has been in vogue at least since the eighteenth century. However, the insurance market as was in existence at that time has changed considerably in the present. This has resulted in a review of the...

Look at virtually any Covid-19 case favoring an insurer, and you will find a citation to Section 148:46 of Couch on Insurance. It is virtually ubiquitous: courts siding with insurers cite Couch as restating a “widely held rule” on the meaning of “physical loss or damage”—words...

Boilerplate is often ambiguous or incomprehensible, yet long lasting, especially in insurance contracts. This alienates consumers and is increasingly punished by courts construing the language against the drafter. There must be some hidden allure to ambiguous boilerplate. The popular theory is...