Foreword
Summary
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A1
Acknowledgements
Figures and tables
Economic value of English law | Oxera

A1.4: International insurance contracts

Published: October 5th 2021
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2.1: Introduction 2.2: Economic value is created by ‘gains from trade’—realised through transactions 2.3: The law underpins growth in the volume of transactions (and therefore the generation of economic value) 2.4: Considering the law as infrastructure on which transactions take place
3.1: Introduction 3.2: The economic value created through the UK legal services ecosystem 3.3: The economic value created for the UK as a whole -3.3.1: English law as a global market standard -3.3.2: Agglomeration effects -3.3.3: Reduced transaction costs for UK businesses trading internationally 3.4: The choice of law and legal services for internationally mobile transactions
4.1: Introduction 4.2: English law provides significant value to the UK economy -4.2.1: Maritime sector -4.2.2: Commodity trading -4.2.3: ISDA swaps and derivatives -4.2.4: International insurance contracts -4.2.5: The value of English law to the UK economy is significant 4.3: Risks and opportunities 4.4: Future opportunities for the use of English law represent significant potential value to the UK
5.1: Introduction 5.2: English law suffers from a type of ‘market failure’ 5.3: Solutions to the free-rider problem: coordination across private and public parties 5.4: How to manage the ‘provision’ of English law
Experts Funders
Chapter A1

A1.4: International insurance contracts

Insurance provides protection against events that are inherently uncertain at an individual level. Insurance involves a transfer of risk from an individual or business to third parties, who pool various risk exposures together. Insurance is made available by a large number of providers who offer insurance against a vast array of different types of risk exposure. These range from retail customers insuring their cars or homes, to complex areas such as cyber risk or space risk for commercial clients.[1]See Lloyd’s of London (2021), ‘What we insure’. Such risk is underwritten through insurance contracts. Much of this business, along with many associated supporting services, is internationally mobile in nature.

References

References
↑1See Lloyd’s of London (2021), ‘What we insure’.