Liability Insurance Posts
Insurance expert Tom Baker discusses progress on ALI’s Restatement of Law Liability Insurance
Penn Law’s Tom Baker serves as the Reporter for the American Law Institute’s Restatement of the Law Liability Insurance. The ALI membership met on May 23 and discussed the Restatement, which would help to define insurance law as a field. Professor Baker is an expert in insurance law, and he took the time to explain where the project currently stands.
ALI Liability Insurance Restatement – Final Approval Delayed: What It Means
It had been expected by many that, after seven years of arduous work, The American Law Institute’s (ALI) “Restatement of the Law, Liability Insurance” would be approved on Tuesday, May 23 at the Institute’s Annual Meeting at The Ritz-Carlton Hotel in Washington, D.C. But, despite expectations, no white smoke bellowed from the luxury hotel’s chimney.
Why Criticism Of ALI’s Insurance Restatement Is Valid
The saga of the proposed Restatement of the Law, Liability Insurance of the American Law Institute continued to unfold recently with the publication by the Restatement’s authors, professors Tom Baker and Kyle Logue, of their rebuttal to an article by professor George Priest critical of the proposed Restatement.
In Defense of the Restatement of Liability Insurance Law
In a recent essay funded by the insurance industry, Yale Law Professor George Priest launched a strident critique of the Restatement project, arguing that the rules adopted in the Restatement (a) are radically contrary to existing case law, (b) have a naïve “pro-policyholder” bias that ignores basic economic insights regarding how insurance works, and (c) will, as a result of (a) and (b), lead to increases in liability insurance premiums and disruption in coverage, to the detriment of individuals and firms that need liability insurance. This essay argues that each of these claims is false.
The Insurer’s Duty to Make Reasonable Settlement Decisions
As a follow up to our post on the Council Draft text of this section, we now present the test from the Proposed Final Draft of Section § 24 – The Insurer’s Duty to Make Reasonable Settlement Decisions.
Allocation in Long-Tail Harm Claims Covered by Occurrence-Based Policies
As a continuation of our post series that includes content of ALI drafts, we now include Section 42 – Allocation in Long-Tail Harm Claims Covered by Occurrence-Based Policies.
Notice to Carrier Means Notice to Carrier
Notice requirements in liability insurance policies typically require that notice of a claim or lawsuit be given as soon as practicable and in writing to the insurance company. While the exact language differs from policy to policy, the concept of written notice to the insurance company without delay is fairly common.
Legal experts battle over proposal to clarify law covering liability insurance for ALI
A draft legal document that could have a profound impact on American law involving liability insurance has some critics and the document’s authors in near total disagreement over whole sections of the draft, and even its overall objective.
ALI’s Proposed Insurance Law Restatement: A Trojan Horse?
A. Hugh Scott of Choate focuses on the Restatement of the Law, Liability Insurance project, which was topic of panel discussion at the Insurance Coverage and Practice Symposium.
ALI Council Approves Project Drafts
At its January 2017 meeting, the Council took several actions concerning project drafts.