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The Legal Environment of Insurance.

The Legal Environment of Insurance is a two-volume textbook for the business law portion of the CPCU program of the American Institute for Chartered Property Casualty Underwriters. The authors present a general overview of the U.S. legal environment, including origin and evolution. The discussion includes a breakdown of the various court systems their jurisdictions, and relationships, and the players, their respective responsibilities, and interaction with the court.

Chapters 2 through 5 present the various elements of the construction, interpretation, and discharge of contracts and agreements; chapter 5 is strictly dedicated to insurance contracts. The outline and definitions are appropriate for the intended audience and the generalized scope of the texts.

Additional topics covered include commercial transactions, property law, tort law (negligence and intentional), agency law, employment law, business entities, and insurance regulation.

Although the texts are intended for students of CPCU 6, they provide a good read for anyone interested in the general business law environment as it applies to insurance and the interaction and reaction of insurance within that environment.

Future editions might consider a discussion within the context of business entities of the public sector. The public sector has continued to grow and evolve with respect to the legal environment and its application of insurance as a risk transfer alternative. Additionally, brief discussions on environmental pollution liability and employment practices liability insurance coverages should be included.

In sum, the texts present an excellent overview of the legal environment as applied to insurance and include changes that have been experienced in that environment since the publication of the third edition. Any shortcomings are directly related to the inability of books to maintain pace with rapid changes, such as those that have occurred in the area of employment law. Nonetheless, the texts serve the authors' intent of providing a general overview.
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Author:Hooper, Bruce C.
Publication:Journal of Risk and Insurance
Article Type:Book Review
Date:Dec 1, 1995
Words:302
Previous Article:Principles of Risk Management and Insurance.
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