Principles of Risk Management and Insurance, 13th Edition

Chapter 19 The Liability Risk

“I was never ruined but twice, once when I lost a lawsuit and once when I won one.”

Voltaire

Learning Objectives

After studying this chapter, you should be able to

• Define negligence and explain the elements of negligence.

• Explain the following legal defenses that can be used in a lawsuit:

  • – Contributory negligence

  • – Comparative negligence

  • – Assumption of risk

  • – Last clear chance rule

• Apply the law of negligence to specific liability situations.

• Explain the defects in the current tort liability system and the proposals for tort reform.

• Explain the following tort liability problems:

  • – Defective tort liability system

  • – Medical sector liability

  • – Liability arising from technological and societal change

Bob and Christine ...