Study
| EST. READ TIME 1 MIN.Liability Insurance: Crisis in Supply
Professionals, municipalities, public schools, directors, tavern owners and truck drivers have all been affected by the recent crisis in the price and availability of liability insurance. The lack of insurance has threatened the supply of vaccines and raised the price of a host of products.
What is the reason for the crisis? Is it a conspiracy among insurers? Fluctuating interest rates? Rising liability claims? An excess supply of lawyers? A number of explanations for the crisis are examined in this study which finishes with a review of possible policy approaches, including the institution of no fault liability.
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David Gill
David Gill was born in 1953 in New Westminster, British Columbia. In 1976 he received his B.A. (Economics) from SimonFraser University and in 1978 his M.A. (Economics) from the University of California at Los Angeles. Mr. Gill also holds a law degree from the University of British Columbia (May 1982) and was a law clerk to the B.C. Supreme Court (1982-1983) before completing the remainder of his articles at the Vancouver law firm of Shrum, Liddle and Hebenton. Mr. Gill was called to the B.C. Bar in February 1984 and was most recently with the Bureau of Competition Policy in Ottawa. He is presently writing a book for the Fraser Institute on the market for legal services.Mr. Gill wrote More on Expected Inflation and Unemployment, for the Atlantic Economic Journal in 1976 and is co-author of Tax Facts 3 published by the Fraser Institute in 1982.… Read more