Year: 2012
Type: article
Abstract: This Article identifies four conceptions of insurance that have operated in the debates about insurance law in recent decades, analyzes these conceptions, and examines the normative agendas that drive them.These are the contract, public utility/regulated industry, product, and governance conceptions.Although these conceptions adopt very different perspectives, each is a way of struggling with the two fundamental questions that modern insurance law has continually faced.The first question involves the extent to which the language of an insurance policy should determine its legal effect.This is the insurance law version of the age-old question concerning the validity of one-sided provisions in contracts of adhesion.Because virtually all insurance policies, including high-end corporate insurance
Author: Kenneth S. Abraham
Institution: University of Virginia
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1750420814