As part of a continuing series on Fall 2018 semester courses that relate to innovation and business, this post spotlights Insurance Law.
Whether we like it or not, insurance law affects all of us. From car insurance to life insurance to one of the most-discussed subjects of the day, health insurance, everyone comes into contact with insurance. Insurance Law covers the principles behind the regulations and policies that are so important on both a personal and professional level. Insurance law is taught by professor Anya Prince, who will join the faculty of the College of Law this fall.
Professor Prince has designed the course so that it is more than just a typical podium-centered class. Students can expect an interactive learning experience and will receive experiential learning credit. Among other aspects of the class, students will conduct research on how specific states regulate the use of genetic information in the insurance context. “Thinking and learning about ways to approach policies in two conflicting fields is really important,” professor Prince noted. “Class discussions will focus on ways to approach policy.” They will also require “thinking in creative ways about the complexities of the insurance realm and how it affects everyday people, as well as the economics of the huge industries and playing with those tensions.”
Professor Prince acknowledged that the course topic sounds heavy, “but there are such fascinating tensions,” arising from the reality that insurance is both part of our social safety net and a significant economic driver. Insurance is one of Iowa’s main industries and is steadily growing. Regardless of whether you decide to practice in insurance law, the course will enrich your personal understanding of insurance law.
Amanda Marincic -- March 5, 2017
This course offers an introduction to regulation and policy issues in insurance law through contribution to an ongoing NIH funded research grant. Among the didactic topics addressed will be state regulation of insurance, adverse selection and moral hazard, risk classification and rate regulation, and insurance contracts. Emphasis will be placed on life, long-term care, and disability insurance, although health insurance, reinsurance, and other types insurance may be discussed. The class will also focus on the social and economic underpinnings of insurance. This class will provide practical experience conducting research regarding insurer use of genetic information in risk classification. Students will contribute to and conduct research for the professor’s NIH grant examining life, long-term care, and disability insurer use of genetic information. As a final product, students will create a white paper with policy options and recommendations for their assigned state regarding insurer use of genetic information. This research will include in-depth state analysis into insurance markets, rate regulation, and policy. The white paper will be accompanied with an issue brief and a presentation of findings. These practical experiences will constitute a significant portion of students’ grades; however, an abbreviated exam will also be included to measure students’ mastery of insurance law topics.