Economics, Econometrics and Finance
8 years ago

Legal liability rules shape insurance markets, impacting risk reduction strategies.

Hübner international series on risk, insurance, and economic security
The Demand for and Supply of Liability Insurance
Patricia M. Danzon, Scott E. Harrington

Paper Summary

Liability insurance is needed when individuals or companies are legally responsible for harming others. This paper looks at how the demand for and supply of liability insurance work. It focuses on how liability insurance is different from regular insurance and how laws, insurance, and risk reduction are connected.

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