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Ulen, Thomas S. Barker, Drucilla Karen 2014-12-16T04:05:25Z 2014-12-16T04:05:25Z 10000-01-01 1988 1988 This dissertation analyzes the relationship between the tort-liability system and the current problems in the provision of commercial liability insurance. It uses loss-ratio data by insurer group and state to assess empirically the manner in which liability standards affect systematic underwriting risk. Tort law consists mainly of judge-made law and varies considerably from state to state. For the purpose of this analysis, the crucial variation is the extent to which a state's tort standards tend toward absolute liability because they fail to place reasonable limits on the existence and scope of a firm's liability. Systematic underwriting risk should be higher in these states since their failure to limit a firm's liability will exacerbate the already existing market imperfections in the provision of insurance. The empirical results support this hypothesis. Systematic underwriting risk is significantly higher in states that tend toward absolute liability in tort. Made available in DSpace on 2014-12-16T04:05:25Z (GMT). No. of bitstreams: 1 8823077.pdf: 6295591 bytes, checksum: 6e0ff363e60c4de187da8add1182fcf9 (MD5) Previous issue date: 1988 Embargo set by: Seth Robbins for item 70963 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs U of I Only 175 p. Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1988. http://hdl.handle.net/2142/70797 (UMI)AAI8823077 Law Economics, Commerce-Business An Empirical Analysis of the Relationship Between the Doctrine of Strict Products Liability and the Provision of Insurance text Economics University of Illinois at Urbana-Champaign Economics Dissertation Ph.D.