NDLI: Disclosure in insurance law: a comparative analysis

Content Provider	Springer Nature Link
Author	Li, Kevin X. Wang, Yulan Tang, Owen Min, Jie
Copyright Year	2012
Abstract	Disclosure or non-disclosure is one of the key issues in insurance contract. This paper compares laws on remedy for no-disclosures in European and other major jurisdictions. It concludes there are generally two different approaches on remedy for non-disclosure—(1) the strict disproportionate approach; and (2) the proportionate approach. The paper introduces an asymmetric information model to elaborate on the ongoing debates over the various normative issues of fairness with respect to the two different approaches. It confirms that the proportionate approach serves better the goal of fairness, in particular for the insured who acts honestly but carelessly provides bad information to the insurer. The model provides a statistical tool for a correct range of remedy on non-disclosure.
Starting Page	349
Ending Page	369
Page Count	21
File Format	PDF
ISSN	09291261
Journal	European Journal of Law and Economics
Volume Number	41
Issue Number	2
e-ISSN	15729990
Language	English
Publisher	Springer US
Publisher Date	2012-09-18
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Insurance Information disclosure Utmost good faith Fairness Remedy Regulation Law and Economics European Integration Public Finance & Economics Commercial Law
Content Type	Text
Resource Type	Article
Subject	Business and International Management Law Economics and Econometrics

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Disclosure in insurance law: a comparative analysis