Noting that the risk of malpractice liability poses a significant barrier to the provision of volunteer health care in this country, the author analyzes current state and federal legislative approaches designed to overcome the hurdle, including a changed standard of care for malpractice liability from simple negligence to gross negligence, governmental indemnification of volunteer providers, an...

January 28, 2014 Abstract Extending previous “tales of two market failures”, we consider a setting in which firms generate environmental externalities and may invest in environmentally friendly technological advancement generating R&D spillovers. We analyze the joint use of environmental liability law and R&D subsidies to internalize the double externality. Two alternative liability rules are c...

This study intended to review the precedents on plastic surgery medical malpractice lawsuits in lower-court trials, classify the reasons of 'limitation of liability' by type, and suggest a standard in the acknowledgement of limitation of liability ratio. The 30 lower-court's rulings on the cases bearing the medical negligence of the defendants acknowledged the liability ratio of the defendants ...

Against the threat of online banking theft, governments are imposing two different types of legal schemes: strict liability and negligence. Countries like the U.S. are imposing strict liability on online banking transactions to ensure that service providers like banks take more care. However, under strict liability banks does not provide adequate client security measures. Countries like Korea a...

In this paper, we propose measures of the risk that the value of the liabilities becomes larger than the value of the assets, and this especially for insurance companies. We study probabilities of mismatching and a degree of mismatching in unsegmented and multidimensional models of the balance, in which we stress the influence of interest rates on the active and passive side of the balance. The...

Jonathan M. Stern is Chair of the DRI Aerospace Law Committee. He practices aerospace and insurance coverage law with Schnader Harrison Segal & Lewis LLP, where he is resident in the Firm’s Washington, DC, office. Mr. Stern, who holds FAA-issued commercial pilot, control tower operator, and ground instructor certificates, was formerly an air traffic controller at Washington National Airport and...

Getting it Straight: Avoiding Blunders While Criticizing a Peer’s Work Steven G Achinger, Alan S Go and Juan Carlos Ayus* Department of Nephrology, Watson Clinic, LLP – Lakeland, FL, USA, Division of Research, Kaiser Permanente of Northern California, Oakland, CA, USA, Departments of Epidemiology, Biostatistics, and Medicine, University of California at San Francisco, San Francisco, CA, USA, Re...

This paper provides a complete program for the valuation of aggregate non-life insurance liability cash flows based on claims triangle data. The valuation is fully consistent with the principle of valuation by considering the costs associated with a transfer of the liability to a so-called reference undertaking subject to capital requirements throughout the runoff of the liability cash flow. Th...

Institutions that rely on joint liability to facilitate lending to the poor have a long history and are now a common feature of many developing countries. Economists have proposed several theories of joint-liability lending that stress various aspects of its informational and enforcement advantages over other forms of lending. This paper analyzes how joint-liability lending promotes screening, ...