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Legal Cost Insurance as a Strategic Device

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  • Kirstein, Roland

Abstract

Legal Cost Insurance (LCI) is not only a device to reallocate risk, but also to enhance an insured's position in a settlement negotiation. The paper points out that this function of LCI is especially important in cases that have a negative expected value for potential plaintiffs. Hence LCI is of interest even for risk-neutral customers. -- Rechtsschutzversicherungen (LCI) dienen nicht nur der Risikoallokation, sondern verbessern auch die strategische Position des Versicherten in Vergleichsverhandlungen. Dies gilt insbesondere bei Klagen mit negativem Erwartungswert für den potentiellen Kläger. Dadurch sind LCI sogar für risikoneutrale Kunden interessant.

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File URL: http://econstor.eu/bitstream/10419/23055/1/9711lci.pdf
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Bibliographic Info

Paper provided by Saarland University, CSLE - Center for the Study of Law and Economics in its series CSLE Discussion Paper Series with number 97-11.

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Date of creation: 1997
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Handle: RePEc:zbw:csledp:9711

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Related research

Keywords: Legal Cost Insurance; Bargaining; Settlement;

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Cited by:
  1. van Velthoven, Ben & van Wijck, Peter, 2001. "Legal cost insurance and social welfare," Economics Letters, Elsevier, Elsevier, vol. 72(3), pages 387-396, September.

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