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Tom Baker

William Maul Measey Professor of Law and Health Sciences

Tom Baker

Tom Baker, a preeminent scholar in insurance law, explores insurance, risk, and responsibility using methods and perspectives drawn from economics, sociology, psychology, and history. His research on health insurance exchanges is informing the development of decision tools to improve consumer choice. Continue reading…


  • Insurance Law
  • Torts
  • Health Care Policy
  • Health Economics
  • Law and Technology
  • Finance
  • Behavioral Economics
  • Law and Economics
  • Litigation
  • Entrepreneurship
  • Law and Society
  • Contracts


[Available Here]

INSURANCE LAW AND POLICY: CASES, MATERIALS AND PROBLEMS (Aspen Publishing 2003; 2d ed. 2008; 3d ed. 2013).
[Available Here]

THE MEDICAL MALPRACTICE MYTH (University of Chicago Press 2005) (paperback 2007).
[Available Here]

EMBRACING RISK: THE CHANGING CULTURE OF INSURANCE AND RESPONSIBILITY (contributing editor, with Jonathan Simon, University of Chicago Press 2002).
[Available Here]

Articles and Book Chapters

Regulating Robo Advice Across the Financial Services Industry, 103 IOWA L. REV. 713 (2018) (with Benedict G. C. Dellaert).

Mutually Assured Protection Among Large U.S. Law Firms, 24 CONN. INS. L.J. 1 (2017) (with Rick Swedloff).

In Defense of the Restatement of Liability Insurance Law. 24 GEO. MASON L. REV. 767 (2017) (with Kyle D. Logue).

Everything's Bigger in Texas: Except the Medmal Settlements, 22 CONN. INS. L. J. 1 (2016) (with Eric Helland and Jonathan Klick).

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).

Liability Insurer Data as a Window on Lawyers’ Professional Liability, 5 U.C. IRVINE L. REV. 1273 (2015) (with Rick Swedloff).

Mandatory Rules and Default Rules in Insurance Contracts, in RESEARCH HANDBOOK ON THE ECONOMICS OF INSURANCE LAW (Daniel Schwarcz & Peter Siegelman eds., Elgar 2015) (with Kyle D. Logue).

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).

“You Want Insurance with That?” Using Behavioral Economics to Protect Consumers from Add-on Insurance Products, 20 CONN. INS. L.J. 1 (2013) (with Peter Siegelman).

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).

Regulation by Liability Insurance: From Auto to Lawyers Professional Liability, 60 UCLA L. REV. 1412 (2013) (with Rick Swedloff).

Transparency through Insurance: Mandates Dominate Discretion, in TRANSPARENCY IN THE CIVIL JUSTICE SYSTEM (Joseph Doherty, Robert T. Reville & Laura Zakaras eds., 2012).

Health Insurance, Risk, and Responsibility after the Patient Protection and Affordable Care Act, 159 U. PA. L. REV. 1577 (2011).

Allowing Patients to Waive the Right to Sue for Malpractice: A Response to Thaler and Sunstein 104 Nw. U. L. REV. 233 (2010) (with Timothy Lytton).

How the Merits Matter: D&O Insurance and Securities Settlements, 157 U. PA. L. REV. 755 (2009) (with Sean Griffith).

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).

Predicting Corporate Governance Risk: Evidence from the Directors’ and Officers’ Liability Insurance Market, 74 CHI. L. REV. 487 (2007) (with Sean Griffith).

Blood Money, New Money and the Moral Economy of Tort Law in Action, 35 L. & SOC’Y REV. 275 (2001).

On the Genealogy of Moral Hazard, 75 TEXAS L. REV. 237 (1996), reprinted in LAW AND ECONOMICS OF INSURANCE (Daniel Schwarcz ed., Elgar 2012).

More publications can be found here.

Working Papers

Behavioral Finance, Decumulation and the Regulatory Strategy for Robo-Advice (July 24, 2018), U of Penn, Inst for Law & Econ Research Paper No. 18-19 (with Benedict Dellaert). (forthcoming)
[View Document]

How Liability Insurers Protect Patients and Improve Safety (July 20, 2018), U of Penn, Inst for Law & Econ Research Paper No. 18-20; DEPAUL L. REV. (forthcoming) (with Charles Silver). (forthcoming)
[View Document]

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)
[View Document]

Jackpot Justice and the American Tort System: Thinking Beyond Junk Science (with Herbert M. Kritzer and Neil Vidmar) (SSRN: 2008).
[View Document]

Insurance Against Misinformation in the Securities Market (SSRN: 2007).
[View Document]

Research Areas

  • Liability and Insurance
  • Insurance Regulation
  • Reinsurance
  • Risk Management
  • Health Insurance
  • Financial Services Regulation
  • Fintech


Penn Law - William Maul Measey Professor of Law and Health Sciences (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)

Professional Activities

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-)

Insurance and Society Study Group. Founder and facilitator (1997-2008).

Professional Liability Underwriting Society.

Picwell, Inc. Co-founder.

Law and Society Association.


  • Torts
  • Insurance Law and Policy
  • Financial Regulation Law and Policy
  • The Fintech Challenge
  • Regulation of Health Insurance Markets
  • Risk Management
  • Insurance Insolvency
  • Liability and Insurance

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