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Societal Risk Management through the Insurance Market

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Book cover Market-Based Public Policy

Part of the book series: Policy Studies Organization Series ((PSOS))

Abstract

Risk is defined as the uncertainty of loss or gain.2 This definition recognizes that large risks may also be associated with large rewards, and this recognition is essential in formulating policies for societal risk management. What are the policy objectives of societal risk management? What are the alternative policy regimes for achieving acceptable risk management? In addressing these basic questions, we highlight the actual and potential role of private liability insurance markets in achieving an acceptable level and distribution of risk.

I wish to acknowledge the support of the Huebner Foundation for Insurance Education and Resources for the Future.

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Authors
  1. Martin T. Katzman
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Editor information

Editors and Affiliations

  1. Department of Family and Community, University of Maryland, USA

    Richard C. Hula (Associate Professor) (Associate Professor)

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© 1988 Policy Studies Organization

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Katzman, M.T. (1988). Societal Risk Management through the Insurance Market. In: Hula, R.C. (eds) Market-Based Public Policy. Policy Studies Organization Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08891-1_2

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