This article reports the results of empirical research on the monitoring role of directors' and officers' liability insurance (Damp;O insurance) companies in American corporate governance. Economic theory provides three reasons to expect Damp;O insurers to serve as corporate governance monitors:...

Prepared at the request of the Task Force to Modernize Securities Legislation in Canada, this study describes and evaluates evaluate a new capital markets insurance concept: securities misinformation insurance. This new insurance would compensate investors for losses caused by securities law...

This Article examines how liability insurers transmit and transform the content of corporate and securities law. Damp;O liability insurers are the financiers of shareholder litigation in the American legal system, paying on behalf of the corporation and its directors and officers when...

Lost in the recent efforts to take political advantage of (or explain away) the rapid rise in liability insurance premiums is any real attempt to understand the underwriting cycle, why it is so severe in medical malpractice insurance, and what it might mean for the ability of malpractice...

Prepared for an edited volume on gun litigation (Suing the Firearms Industry, T. Lytton, ed.), this working paper examines the topic of gun risks as a case study of liability insurance as a form of regulation. The paper identifies the following broad categories of 'regulation by insurance': loss...

In liability insurance, the duty to defend is broader than the duty to cover. Thus it is possible that an insurer that has a duty to defend a suit may not have the duty to cover the policyholder's liabilities in the suit. However, if the penalty for a breach of the duty to defend is limited to...

We investigate the joint use of partitioning and sorting as a choice architecture to overcome consumer choice overload in large product sets. Partitioning first presents a small initial set of alternatives with the option to click through to see the remaining alternatives. Sorting presents...

This working paper surveys the decumulation services offered by investment robo-advisors as a case study with which to examine regulatory and market structure issues raised by automated financial advice. We provide a short introduction to decumulation, describing some of the uncertainties...

Top law firms are notoriously competitive, fighting for prime clients and matters. But some of the most elite firms are also deeply cooperative, willingly sharing key details about their finances and strategy with their rivals. More surprisingly, they pay handsomely to do so. Nearly half of the...

[A] high degree of scientific and technical uncertainty permeates the insurance industry — the very business that is charged with transforming uncertainty into risk. Scrutiny of how insurers face their own incapacities reveals that theirs is an uncertain business, and that we live not so much...