Transparency in the Insurance Contract Law in the United States
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Description
Published in Transparency in Insurance Contract Law, Pierpaolo Marano & Kyriaki Noussia, eds.
In the United States, a mix of government regulation and common law decisions govern insurance contracts, and “transparency” in this context does not have a fixed meaning. There are not the sharp distinctions between public and private law that exist in many other jurisdictions (particularly in civil law countries). This is especially true in insurance, where laws regulating insurance contracts are typically a mix of specific government interaction—statutes, regulations, and regulatory notices and bulletins—and the common (“judge-made”) law. For these reasons, transparency standards for insurance agreements are best understood as including both access to essential information about the contract—the cost, forms, terms, endorsements, etc.—and disclosure and other regulatory requirements that support actual knowledge by the parties entering into the insurance agreement and consumer certainty of what coverage is provided.
Publication Date
3-12-2020
Publisher
Springer
City
Cham
ISBN
978-3-030-31197-1
First Page
683
Last Page
703
Disciplines
Contracts | Insurance Law | Law
Recommended Citation
Aviva Abramovsky & Peter Kochenburger, Transparency in the Insurance Contract Law in the United States in Transparency in Insurance Contract Law (Pierpaolo Marano & Kyriaki Noussia, eds., Springer 2020).
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