The principle of indemnity is well-accepted in the field of insurance and is also commonly assumed in the literature of optimal contract design. However, should this principle be imposed on all insurance contracts without exceptions? Does there exist an insurance contract that is optimal for both the insurer and the insured even as the principle of indemnity is violated? The answer is yes. This...

This note deals with on-line computation or learning of Pareto optimal insurance contracts. We account for the fact that the loss distribution often is unknown, unavailable, or intractable. Alternatively, the contracting parties could be inexperienced. In both cases losses must be simulated or observed, one at a time, these causing iterated revisions of the premium. The mechanical nature of pro...

referring to responsible person by insurer after damage compensation is one of the important issues in insurance law. finding the jurisprudence basis of this reference regarding to islamic laws and jurisprudence sources is the objective of this article. subrogation with payment is rooted in french law and it is not stated in iranian law and its basis. according to an implicit condition in insur...

Traditionally, courts interpreting written contracts focused primarily on the contract's language. Consideration of factors beyond the "four corners" of the document was discouraged. Modern courts construing standard form insurance contracts have deviated from this course and begun aiding the insured against the insurer. One of the methods used to tilt insurance disputes in favor of the insured...

Universal coverage requires a strategy to sever the link between insurance coverage and employment in order to build a more stable insurance base. Universality also will require subsidies to make coverage affordable. Given these realities, the authors evaluate different financing proposals--employer and individual premium mandates and taxes--in terms of equity, affordability, and administrative...