The insurance 'crisis.' (correlation between legal trends and insurance rates) (Background: Too Many Lawsuits?)

Article Abstract:

Insurance premium rates arelargely dependent on legal doctrines. As a result of numerous lawsuits and lawsthat side with plaintiffs, insurers were forced to increase their rates, makinginsurance unaffordable to most sectors. Thus, insurers lost most of their clients. To ease the situation, states legislated measures that reform tort laws to avert dramatic increases in premiums and costs. These reforms have improved profits for the insurance industry in the 1990s. Some critics argue, however, that the problems of the industry is not at all related to legal patterns.

Analysis, Laws, regulations and rules, Prices and rates, Insurance, Tort liability, Torts, Tort liability of insurance companies, Insurance companies

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History's 'just price.' (the development of the concept of wages) (Background)

Article Abstract:

The concept of wages dates as far back as the time of Plato and has evolved through the centuries. The Greek philosopher believed that a man's wages should be enough to enable him to live in the manner of his parents, and opined that no man should receive more than five times what the lowest paid worker earns.

History, Wages, Wages and salaries

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