William Maul Measey Professor of Law
Tom Baker is a highly regarded insurance expert, a leading scholar of insurance law and policy, and a devoted law teacher. His research explores insurance law, institutions, and markets using methods from history, economics, psychology and sociology. His many books, articles, and reports address topics such as the impact of insurance on personal injury and securities litigation, health insurance reform, insurance underwriting and claims management, the historical development of insurance institutions, insurance company restructuring, and many aspects of insurance coverage.
ENSURING CORPORATE MISCONDUCT: HOW LIABILITY INSURANCE UNDERMINES SHAREHOLDER LITIGATION (University of Chicago Press, 2010) (with Sean Griffith).
INSURANCE LAW AND POLICY: CASES, MATERIALS AND PROBLEMS (Aspen Publishing 2003; 2d ed. 2008; 3d ed. 2013).
THE MEDICAL MALPRACTICE MYTH (University of Chicago Press 2005) (paperback 2007).
EMBRACING RISK: THE CHANGING CULTURE OF INSURANCE AND RESPONSIBILITY (contributing editor, with Jonathan Simon, University of Chicago Press 2002).
Articles and Book Chapters
Behavioral Finance, Decumulation and the Regulatory Strategy for Robo-Advice, in THE DISRUPTIVE IMPACT OF FINTECH ON RETIREMENT SYSTEMS (Julie Agnew & Olivia S. Mitchell eds., Oxford 2019) (with Benedict Dellaert).
For Third Enrollment Period, Marketplaces Expand Decision Support Tools to Assist Consumers, 35 HEALTH AFF. 680 (2016) (with Charlene A. Wong, Daniel E. Polsky, Arthur T. Jones, Janet Weiner, and Robert J. Town).
Behavioral Economics and Insurance Law: The Importance of Equilibrium Analysis, in THE OXFORD HANDBOOK OF BEHAVIORAL ECONOMICS AND THE LAW (Eyal Zamir and Doron Teichman, eds., Oxford 2014) (with Peter Siegelman).
Putting the Health Back in Health Insurance, 71 MED. CARE RES. & REV. 337 (2014) (with Pavel Atanasov).
Can Consumers Make Affordable Care Affordable? The Value of Choice Architecture, 8(12) PLOS ONE (December 18, 2013) (with Eric J. Johnson, Ran Hassin, Allison T. Bajger, & Galen Treuer) (DOI: 10.1371/journal.pone.0081521).
The Law and Economics of Liability Insurance: A Theoretical and Empirical Review, in RESEARCH HANDBOOK ON THE ECONOMICS OF TORTS 169 (Jennifer Arlen ed., Elgar 2013), reprinted in RESEARCH HANDBOOOK ON THE ECONOMICS OF INSURANCE LAW 488 (Daniel Schwarcz & Peter Siegelman eds., Elgar 2015) (with Peter Siegelman).
The Missing Monitor in Corporate Governance: The Directors’ and Officers’ Liability Insurer, 95 GEO. L.J. 1795 (2007) (with Sean Griffith), reprinted in LAW AND ECONOMICS OF INSURANCE (Daniel Schwarcz ed., Elgar 2012).
More publications can be found here.
Uncertainty > Risk: Lessons for Legal Thought from the Insurance Runoff Market (September 7, 2020), B.C. L. REV. (forthcoming); U of Penn Law School, Public Law Research Paper No. 20-03. (forthcoming)
The Forfeiture of Coverage Defenses Rule: an Economic Analysis (July 25, 2017). Northwestern Law & Econ Research Paper No. 17-10; U of Penn, Inst for Law & Econ Research Paper No. 17-32 (with Ezra Friedman and Kyle D. Logue). (forthcoming)
Insurance Against Misinformation in the Securities Market (SSRN: 2007).
- Liability and Insurance
- Insurance Regulation
- Reinsurance and other Secondary Insurance Markets
- Risk Management
- Health Insurance
- Financial Services Regulation
Penn Law - William Maul Measey Professor of Law (2009- ); Professor (2008-09); Deputy Dean (2010-12).
University of Connecticut – Connecticut Mutual Professor of Law and Director, Insurance Law Center (1997-08)
Visiting Professor – Vanderbilt, Columbia, Hebrew University of Jerusalem
University of Miami – Associate Professor (1992-97)
Covington & Burling – Associate (1987-91)
Law Clerk to the Hon. Juan Torruella, U.S. Court of Appeals for the First Circuit (1986-87)
Society for Empirical Legal Studies.
American Law and Economics Association.
American Law Institute. Reporter, Principles of Liability Insurance Project (2010-14). Reporter, Restatement of the Law Liability Insurance (2014-19)
Insurance and Society Study Group. Founder and facilitator (1997-2008).
Professional Liability Underwriting Society.
Picwell, Inc. Co-founder.
Law and Society Association.
American College of Coverage Counsel
- Insurance Law and Policy
- Regulation of Health Insurance Markets
- Risk Management
- Insurance Insolvency
- Liability and Insurance
- Financial Regulation Law and Policy
- The Fintech Challenge