As the Restatement of the Law, Liability Insurance (“the Restatement”) has progressed through the rigorous drafting process of the American Law Institute (the “ALI”), insurance industry organizations have pursued an “inside and outside” strategy regarding the project. Insofar as we are aware of these efforts in our role as Reporters for the Restatement, the industry’s “inside” efforts have consisted of the invited participation of a liason to the project from the American Insurance Association, and communications to the Reporters from Advisers and ALI members who are knowledgeable about insurance industry concerns; and the “outside” efforts have consisted of lobbying of the Reporters by non-ALI members, letters sent to the ALI leadership by senior officials in liability insurance companies, the retention of Yale Law Professor George Priest to prepare a public critique of the Restatement from a law and economics perspective that will be published in the George Mason Law Review, the retention of Wharton Healthcare Management Professor Scott Harrington to prepare a similar critique, and the retention of two attorneys from the law firm Debevoise & Plimpton, Eric Dinallo and Keith Slattery (“D&S”), to prepare a white paper criticizing the Restatement based on “regulatory considerations.”
Law | Law and Economics
Date of this Version
Working Paper Citation
Baker, Tom and Logue, Kyle D., "Defending the Restatement of the Law, Liability Insurance: "Regulatory Considerations"" (2017). Law & Economics Working Papers. 128.