Data Profiling and Insurance Law

Author: Brendan McGurk
Publisher: Hart Publishing
ISBN: 9781509920617

Published In: March 2019
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781509945412

List Price: HKD 1,430.00

HKD 1,387.10 Save HKD 42.90 (3%)

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Description
Contents

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This timely, expertly written monograph looks at the legal impact that the use of ‘Big Data’ will have on the provision - and substantive law of - insurance. Insurance companies are some of the biggest consumers of Big Data profiling and are increasingly using that data in deciding whether to offer cover to individual potential insureds or not.

More particularly, the book explores how insurers (i) gain access to information relevant to assessing risk and/or the pricing of premium; (ii) the impact which that increased information will have on substantive insurance law (and in particular duties of good faith disclosure and fair presentation of risk); and (iii) the impact that insurers’ new knowledge may have on individual or group access to insurance and the legal means by which the refusal of cover might be challenged.

Written by a top expert in the field, this book will both stimulate further debate and operate as a reference text for academics and practitioners who are faced with emerging legal problems arising from the increasing opportunities which Big Data offers to business.

Introduction

I. Scope and Structure of the Book

II. Big Data's Impact on Insurance

III. Information Asymmetries and Principles of Insurance Law

IV. Remedies for Insurers' Misuse of Big Data

V. Relationship between Social Change and Legal Principle

PART I

BIG DATA'S IMPACT ON THE PROVISION AND REGULATION OF INSURANCE

1. Big Data and Predictive Analytics

I. Big Data: Definition and Techniques

II. The Nature, Collection, Sources and Aggregation of Data

III. How Big Data is Transforming Insurance Business

IV. Conclusions

2. Regulatory Assessment of the Use of Big Data by Insurers

I. Regulatory Assessment by UK Regulators

II. Regulatory Assessment by EU Regulators

III. Conclusions

3. Emerging Themes and Issues

I. Transparency and Privacy Concerns

II. Information Asymmetries, Adverse Selection and Segmentation of Risk Pools

III. Access to Insurance

IV. Conclusions

PART II

BIG DATA AND THE PRINCIPLES OF INSURANCE LAW

4. Big Data and the Permissible Constraints on the Scope of Cover

I. Terms of Insurance Contracts

II. General Constraints on Policy Terms

III. Constraints in Relation to Specific Classes of Risk

IV. Conclusions

5. Good Faith and Duties of Disclosure in Insurance Law

I. Duties of Disclosure in English Contract Law

II. The Good Faith Duty of Disclosure in Insurance Law

III. Legislative Reform

IV. Conclusions

PART III

THE IMPACT OF REGULATORY LAW ON INSURANCE LAW

6. Regulatory Constraints on the Collection and Use of Data

I. Financial Services Regulation

II. Regulation of Insurance – The Insurance Distribution Directive

III. Data Protection Regulation

IV. Conclusions

7. Impact of Regulatory Duties on the Content of the Duty of Good Faith

I. Deficiencies in the Good Faith Duty of Disclosure

II. Does the GDPR's Application to Insurers Address the Common Law's Deficiencies?

III. Can the Good Faith Duty of Disclosure Evolve by Analogy with the GDPR?

IV. The Evolution of the Common Law Duty of Disclosure on Insurers

V. Conclusions

PART IV

REMEDIES

8. Remedies for Insurers' Misuse of Data

I. Financial Services Remedies

II. Consumer Law Remedies

III. Equality and Anti-Discrimination Remedies

IV. Competition Law Remedies

V. Data Law Remedies

VI. Insurance Law Remedies at Common Law

PART V

CONCLUSIONS

9. Conclusions

I. Summary of the Argument

II. Detailed Conclusions

III. The Future of Insurance in the Big Data Age

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