Insurance Law (ISGL)
ISGL 0351. Insurance Law and Litigation. (2 Credits)
Every lawyer, in private practice, in the business sector, or in government, is likely to be confronted with insurance issues. This course is intended to provide a broad based introduction to insurance law. It will cover the nature and purpose of insurance, from the legal and economic prospective; different types of insurance, including first & third party insurance, personal and commercial insurance and reinsurance; state & federal regulation of insurer's; issues of insurance coverage and interpretation; and duties and responsibilities of insurers and insureds. Emphasis will be placed on recent insurance cases which have resulted in sweeping changes. The events of 9/11, Katrina, the State Attorney Generals' investigations of the insurance industry, recent New York Court of Appeals' bad faith decisions, the AIG bailout, Health Insurance Reform, and the BP Gulf Oil spill and super Storm Sandy have also raised numerous issues, which we will review. The course will be taught from a litigation vantage point since much of insurance law has been developed and continues to be developed in the courts.