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1
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84914368288
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-
9 East 72, 103 E.R. 500, The life insurance policy was held to be a policy of indemnity.
-
(1807)
Godsall v. Boldero
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2
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84914368287
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3 App. Cas. 279 (H.L. 1877), at 340.
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6
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0003774434
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See also, 3rd ed., Boston, The only law and economics studies that relate to insurance law are
-
(1986)
Economic Analysis of Law
, pp. 95-96
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Posner1
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7
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84914368286
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An additional argument is that the doctrine is designed to reduce economic waste by eliminating contracts that have no productive economic purpose
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11
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84914368284
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This was the test of insurability described by
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13
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84914368282
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Stat. 16 Car. II.c. 7.
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14
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84914368281
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Stat. George III, c. 48.
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15
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84914368280
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3 B. & P. 195, 100 E.R. 808 (1790).
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16
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84914368279
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2 Cowp. 729, 98 E.R. 1331 (1778).
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17
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84914368278
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Subsequent to the flurry of betting on his gender, d'Éon declared that he was a woman and lived as a woman until his death in 1810. At that time it w
-
-
-
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18
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84914368277
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Subsequent to the flurry of betting on his gender, d'Éon declared that he was a woman and lived as a woman until his death in 1810. At that time i
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-
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19
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84914368276
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Subsequent to the flurry of betting on his gender, d'Éon declared that he was a woman and lived as a woman until his death in 1810. At that time i
-
-
-
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21
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84914368274
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Stat. 19 Geo. 2, c. 37.
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-
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22
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84914368273
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Stat. 19 Geo. 2, c. 37, at 207.
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23
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0013109890
-
The Domestication of Risk: Mathematical Probability and Insurance 1650–1830
-
Lorenz Krüger, Lorraine J. Daston, Michael Heidelberger, MIT Press, Cambridge, MA
-
(1987)
The Probabilistic Revolution
, vol.1
, pp. 237-260
-
-
Daston1
-
24
-
-
0013109890
-
The Domestication of Risk: Mathematical Probability and Insurance 1650–1830
-
Lorenz Krüger, Lorraine J. Daston, Michael Heidelberger, Cambridge, MA
-
(1987)
The Probabilistic Revolution
, vol.1
, pp. 237
-
-
Daston1
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25
-
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0013109890
-
The Domestication of Risk: Mathematical Probability and Insurance 1650–1830
-
Lorenz Krüger, Lorraine J. Daston, Michael Heidelberger, MIT Press, Cambridge, MA
-
(1987)
The Probabilistic Revolution
, vol.1
, pp. 239
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-
Daston1
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26
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84914368272
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Wagering was acceptable in the early nineteenth century common law in the United States. See, for example
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28
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84914368270
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27 Ill 320, Wagering was acceptable in the early nineteenth century common law in the United States. See, for example
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(1862)
Beadles v. Bless
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29
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84914368269
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An interest is necessary, but no particular kind of interest is required
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31
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84914368267
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2 Bos. & P.N.R. 269, 127 E.R. 630 (H.L. 1805).
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32
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84914368266
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106 N.Y. 535, 13 N.E. 337 (1887).
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34
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84914368264
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The contract granted an exclusive license to Ellis. If Ellis stopped producing for any reason except fire, the royalties could be granted to another fi
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36
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84914368263
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155(2)(b).
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37
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84914368262
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Keeton and Widess, op cit., p. 185. They also state that “A modest body of judicial precedent [in the United States] requires the consent of t
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38
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84914368261
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Ramey v. Carolina Life Insurance Co. 135 S.E. 2d. 363 (S.C.S.Ct 1964).
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39
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84914368260
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Liberty National Life Insurance Co. v. Weldon 100 So 2d. 696 (Ala. S.Ct. 1957).
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40
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84914368259
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The Supreme Court of the United States stated: Obviously it is a very different thing from granting such a general license [to insure anyone], to allow the holder of a valid insurance upon his own life to transfer it to one whom he, the party most concerned, is not afraid to trust. [Girgsby v. Russell, 222 U.S. 149 (1911), at 155–156.] This argument is consistent with both the externality and moral hazard arguments.
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42
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84914368258
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opposed liability insurance, in part because of the externality and the incomplete compensation of victims. The majority emphasized that insurance increased the injurer's ability to pay the victim and pointed out, inter alia, that the victim has “the added security (at 608).
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-
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44
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0042431960
-
The Ethics and the Economics of Tort Liability Insurance
-
The dissent in, This issue is discussed in
-
(1990)
Cornell Law Review
, vol.75
, pp. 313
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Schwartz1
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45
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84914368256
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34 O.R.2d 488 (1981).
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-
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46
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84914358929
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Reform of the Law Relating to Insurable Interest in Property: Some Thoughts on Chadwick v. Gibraltar General Insurance
-
(1984)
Canadian Business Law Journal
, vol.8
, pp. 114-119
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Hasson1
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47
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84914368255
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-
In a more recent case, a court upheld an insurance contract on jewelry that was subject to forfeiture for having been illegally brought into the country, unbeknownst to the owner. Hamzeh v. Safeco Insurance Co. of America 32 C.C.L.I. 83 (Alta. Q.B. 1988). The decision in Kosmopolous may have expanded the concept of insurable interest to encompass stolen goods. If the purchaser knows that the goods are stolen, the insurance would be invalid on the basis that one should not be able to benefit from criminal acts (see below).
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-
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50
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84914368252
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Insurable Interest Changes in Texas
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If the cost of care becomes sufficiently high, the efficient contract will be full insurance. See
-
(1953)
Insurance Law Journal
, Issue.369
, pp. 1183
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-
Swift1
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52
-
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0006013046
-
Moral Hazard and Insurance Contracts
-
G. Dionne, Kluwer Academic, Boston, for further discussion., Harnett and Thornton describe indemnity as ”the way in which an insurance contract is removed from the wager category.”
-
(1992)
Contributions to Insurance Economics
, pp. 61-96
-
-
Winter1
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54
-
-
0345896469
-
-
Yale University Press, New Haven, See, for extensive discussion of the coordination problem.
-
(1986)
Distributing Risk
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-
Abraham1
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55
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84914368251
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15 C.B. 365, 139 E.R. 465 (1854).
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-
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56
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84914368250
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Glynn v. Scottish Union & Nat. Ins. Co. 40 D.L.R. (2d) 929 (Ont. C.A. 1963).
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-
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57
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84914368249
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Insurers will, nevertheless, be concerned when someone with modest income wishes to buy a very large life insurance policy.
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-
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58
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85005305538
-
The Market for ‘Lemons’ Qualitative Uncertainty and the Market Mechanism
-
The price may also be lower for some used goods because of their personal nature.
-
(1970)
The Quarterly Journal of Economics
, vol.84
, pp. 488-500
-
-
Akerlof1
-
59
-
-
84914368248
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-
Glynn v. Scottish Union & Nat. Ins. Co. 40 D.L.R. (2d) 929 (Ont.C.A. 1963).
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-
-
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60
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84914368247
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The doctrine of subrogation follows from the indemnity principle. Subrogation permits the insurer to compensate the insured, but to pursue whatever rights the insured has against a third party. Subrogation is in the interest of the insured because it permits him or her to avoid the uncertainty of a lawsuit and to insure only for what is lost. Premiums will be lower to the extent that the insurer collects from a third party.
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-
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61
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-
84914368246
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3 Burr. 1905, 97 E.R. 1162 (1766).
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-
-
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62
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-
84914368245
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-
3 Burr. 1905, 97 E.R. 1162, at 1909.
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-
-
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63
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-
84914368244
-
-
Steven Shavell, 1991.
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-
-
-
64
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-
84914368243
-
-
The debtor-creditor relationship has many of the same features. See
-
-
-
-
65
-
-
85005235509
-
Arm-Breaking Consumer Credit and Personal Bankruptcy
-
(1984)
Economic Inquiry
, vol.22
, pp. 188-208
-
-
Rea1
-
66
-
-
84914368242
-
-
on the insurance aspects of consumer lending. The characteristics of a buyer of a durable good will affect the seller if there is a guarantee or liabil
-
-
-
-
71
-
-
84914368241
-
-
Ontario, Insurance Act, R.S.O., 1980, Chapter 218, s. 265 (1).
-
-
-
-
72
-
-
84914368240
-
-
64 D.L.R. (2d) 715 (S.C.C., 1967).
-
-
-
-
73
-
-
84914368239
-
-
The case hinged on the materiality of the information and the burden of proof of showing materiality.
-
-
-
-
75
-
-
84914368237
-
-
Unless the contract otherwise provides, a violation of any criminal or other law in force in the Province or elsewhere shall not, ipso facto, render unenforceable a claim for indemnity under a contract of insurance except where the violation is committed by the insured, or by another person with the consent of the insured, with intent to bring about loss or damage.… [Acts of New Brunswick 1968, c. 6, s. 2.]
-
-
-
-
76
-
-
84914368236
-
-
56 D.L.R. (3d) (S.C.C. 1975).
-
-
-
-
77
-
-
84914368235
-
-
56 D.L.R. (3d) (S.C.C. 1975), at 562.
-
-
-
-
80
-
-
84914368234
-
-
Canadian Indemnity Co. v. Walkern Machinery Ltd. 53 D.L.R. (3d) 1 (S.C.C. 1975).
-
-
-
-
81
-
-
84914368233
-
-
Canada, Criminal Code s. 202.
-
-
-
-
84
-
-
84914368231
-
-
388 A. 2d 603 (N.J. 1978).
-
-
-
-
85
-
-
84914368230
-
-
When the form of insurance policies is mandated, as in the case of automobile insurance in Ontario, there is no way for insurers and insureds to avoid providing benefits to third parties. Ontario, Insurance Act, s. 226 (1), (4), (13).
-
-
-
-
86
-
-
84914368229
-
-
This problem can be avoided, at a cost, by adding additional counsel who handle the defense at arm's length from the insured.
-
-
-
-
87
-
-
84914368228
-
-
[1989] 1 S.C.R. 1445.
-
-
-
-
90
-
-
84914368225
-
-
Scott, supra, at 1454.
-
-
-
-
91
-
-
84914368224
-
-
The economic model suggests that these risks would have larger deductibles.
-
-
-
-
92
-
-
84914368223
-
-
It could be argued that there is little difference between failing to monitor someone in the family and failing to take reasonable care (negligence) with respect to the risk of fire or theft. The latter does not void an insurance policy. However, where possible, insurance policies are contingent on levels of care. For example, unoccupied homes must be visited frequently. It is certainly possible that insured members of a family would accept the obligation to prevent each other from intentionally damaging property.
-
-
-
-
93
-
-
85005235509
-
Arm-Breaking Consumer Credit and Personal Bankruptcy
-
(1984)
Economic Inquiry
, vol.22
, pp. 188-208
-
-
Rea1
-
97
-
-
84914368220
-
-
This may be less likely in Canada after Kosmopolous, supra.
-
-
-
-
98
-
-
84914368219
-
-
For example, T. Eaton Co. v. Smith 92 D.L.R. (3d) 425 (S.C.C.,1978).
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-
-
|
