Damages

About: Damages is a research topic. Over the lifetime, 9365 publications have been published within this topic receiving 89750 citations. The topic is also known as: compensation award.

Damages Caps, Insurability, and the Performance of Medical Malpractice Insurance

Abstract: This article uses the complete property-casualty insurance files of the National Association of Insurance Commissioners from 1984 to 1991 to assess the effect of medical malpractice reforms pertaining to damages levels and the degree to which these damages are insurable. Limits on noneconomic damages were most influential in affecting insurance market outcomes. Several punitive damages variables specifically affected the medical malpractice insurance market, including limits on punitive damage levels, prohibitions of the insurability of punitive damages, and prohibition of punitive damages awards. Estimates for insurance losses, premiums, and loss ratios indicate effects of reform in the expected directions, where the greatest constraining effects were for losses. The quantile regression analysis of losses indicates that punitive damages reforms and limits were most consequential for firms at the high end of the loss spectrum. Tort reforms also enhanced insurer profitability during this time period.

Models and computational algorithms for maritime risk analysis: a review

Abstract: Due to the undesirable implications of maritime mishaps such as ship collisions and the consequent damages to maritime property; the safety and security of waterways, ports and other maritime assets are of the utmost importance to authorities and researches. Terrorist attacks, piracy, accidents and environmental damages are some of the concerns. This paper provides a detailed literature review of over 180 papers about different threats, their consequences pertinent to the maritime industry, and a discussion on various risk assessment models and computational algorithms. The methods are then categorized into three main groups: statistical, simulation and optimization models. Corresponding statistics of papers based on year of publication, region of case studies and methodology are also presented.

Informing Climate Adaptation: A Review of the Economic Costs of Natural Disasters, Their Determinants, and Risk Reduction Options

Abstract: This paper reviews the empirical literature on the economic impacts of natural disasters to inform both climate adaptation policy and the estimation of potential climate damages. It covers papers that estimate the short- and long-run economic impacts of weather-related extreme events as well as studies regarding the determinants of the magnitude of those damages (including fatalities). The paper also includes a discussion of risk reduction options and the use of such measures as an adaptation strategy for predicted changes in extreme events with climate change.

The Death of Liability

Abstract: Based on systems/strategic analysis, this paper predicts the complete failure of legal liability system. Liability is the system by which injured persons recover money damages from those who injure them. The system operates through the entry and enforcement of judgments by the courts. The paper argues that the system is vulnerable to defeat by a variety of judgment proofing techniques which can be categorized as secured debt strategies, ownership strategies, exemption strategies, and foreign haven strategies. Computerization has recently brought about dramatic reductions in the costs of pursuing these strategies, making them cost effective for more potential defendants. As use spreads, the cultural and political barriers to judgment proofing will decline, leading to wider use of the techniques and ultimately to system failure. The paper examines a variety of strategies by which the system might respond, including shareholder unlimited liability, involuntary creditor priority, asset provider liability, enterprise liability, mandatory insurance, and financial responsibility laws. The paper concludes that judgment- proofing strategists will be able to overcome all of them.

The Relationship between Public Antitrust Enforcement and Private Actions for Damages

Abstract: This paper concerns the relationship between public antitrust enforcement and private actions for damages, focusing in particular on the enforcement of Articles 81 and 82 EC. In the first half of the paper, I examine the respective roles of public antitrust enforcement and private actions for damages. I argue that public enforcement should aim at clarifying and developing the antitrust prohibitions and deterring and punishing violations, whereas private actions for damages should aim at compensation. This corresponds to the approach adopted by the European Commission in its 2008 White Paper on damages actions for breach of the EC antitrust rules, and differs from the US approach which views damages actions as an instrument of deterrence. In the second half of the paper, I analyse a number of specific issues concerning the interaction between public antitrust enforcement and private actions for damages: the binding effect of the finding of a violation in public enforcement proceedings on follow-on actions for damages; access to the public enforcement file; encouragement of voluntary compensation through fine rebates, as a condition for leniency, or as part of settlements; punitive damages; private demand for public enforcement; the impact of private actions for damages on substantive law; and their impact on leniency.