William Maul Measey Professor of Law and Health Sciences
Tom Baker, a preeminent scholar in insurance law, explores insurance, risk, and responsibility using methods and perspectives drawn from economics, sociology, psychology, and history. He is coauthor with Sean Griffith of Ensuring Corporate Misconduct (Chicago 2010), which examines relationships among liability insurance, corporate governance, and securities litigation.
Tom Baker, a preeminent scholar in insurance law, explores insurance, risk, and responsibility using methods and perspectives drawn from economics, sociology, psychology, and history. He is coauthor with Sean Griffith of Ensuring Corporate Misconduct (Chicago 2010), which examines relationships among liability insurance, corporate governance, and securities litigation. His latest article, “Do You Want Insurance with that? Protecting Consumers from Add-On Insurance Products,” employs behavioral economic analysis to support a more assertive approach to regulating such insurance products as collision damage waivers, extended warranties, and credit life insurance. His current research examines legal malpractice law in action and the implementation of the Affordable Care Act.
He is the Reporter for the American Law Institute’s Principles of Liability Insurance Project, a member of the Sloan/Sage Working Group on Behavioral Economics and Retail Financial Services, and the co-director of the Health Insurance Exchange Research Group of Penn’s Leonard Davis Institute of Health Economics. In August 2013 he received the Robert B. McKay award, a lifetime scholarly achievement award given by the Tort Trial and Insurance Practice Section of the American Bar Association.
- Insurance Law
- Health Care Policy
- Behavioral Economics
- Law and Economics
- Law and Society
- Medical Malpractice
- Social Science and the Law
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).
THE MEDICAL MALPRACTICE MYTH (University of Chicago Press 2005) (paperback 2007).
Articles and Book Chapters
Predicting Securities Fraud Settlements and Amounts: A Hierarchical Bayesian Model of Federal Securities Class Action Lawsuits, 9 J. EMPIRICAL L. STUD. 482 (2012) (with Blakely McShane, Oliver Watson & Sean Griffith).
Liability Risks for After Hours Use of Public School Property to Reduce Obesity: A 50 State Survey, 80 J. SCH. HEALTH 508 (2010) (with Hania Masud).
Bonded Import Safety Warranties, in IMPORT SAFETY: REGULATORY GOVERNANCE IN THE GLOBAL ECONOMY (Cary Coglianese, Adam Finkel & David Zaring, eds., Univ. Pa. Press, 2009).
International Association of Insurance Supervisors, in HANDBOOK OF TRANSNATIONAL ECONOMIC GOVERNANCE REGIMES (Christian Tietje and Alan Brouder, eds., 2009) (with Eryn Mathews).
Government as Risk Manager, in PRINCIPLES OF REGULATION (John Cisternino & David Moss, eds., Tobin Project, 2009) (with David Moss).
More publications can be found here.
Behavioral Economics and Insurance Law: The Importance of Equilibrium Analysis (with Peter Siegelman), U. Pa. Inst. for Law & Econ., Research Paper No. 14-1
Can Consumers Make Affordable Care Affordable? The Value of Choice Architecture, U. Pa. Inst. for Law & Econ., Research Paper No. 13-28 (with Eric J. Johnson, Ran Hassin, Allison T. Bajger, and Galen Treuer)
Mandatory Rules and Default Rules in Insurance Contracts, in THE LAW & ECONOMICS OF INSURANCE (Elgar Publishing) (with Kyle D. Logue) (forthcoming)
Protecting Consumers from Add-On Insurance Products: New Lessons for Insurance Regulation from Behavioral Economics, U. Pa. Inst. for Law & Econ., Research Paper No. 13-1 (with Peter Siegelman) (2013)
Jackpot Justice and the American Tort System: Thinking Beyond Junk Science (with Herbert M. Kritzer and Neil Vidmar) (SSRN: 2008).
Insurance Against Misinformation in the Securities Market (SSRN: 2007).
- Liability and Insurance
- Insurance Regulation
- Health Insurance
- Risk Management
Penn Law - Deputy Dean (2010-12); William Maul Measey Professor of Law and Health Sciences (2009- ); Professor (2008-09)
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. Member.
American Law and Economics Association. Member.
American Law Institute. Reporter, Principles of Liability Insurance Project (2010-). Preliminary Draft No.1 distributed February 17, 2011.
International Association for the Study of Insurance Economics (the Geneva Association). Scientific Committee (2003-).
Law and Society Review, Editorial Board Member (2006-)
Insurance and Society Study Group. Founder and facilitator (1997-2008).
New Appleman Advisory Board (2005-)
Professional Liability Underwriting Society. Academic member. Presenter in educational programs (2004, 2005, 2006, 2007, 2008, 2010).
Sloan and Russell Sage Foundations. Working group on Behavioral Economics and the Regulation of Retail Financial Markets (2008-).
- Insurance Law and Policy
- Risk Management
- Insurance Insolvency
- Regulation of Health Insurance Markets