How Crime Shapes Insurance and Insurance Shapes Crime

Anja Shortland; Tom Baker

How Crime Shapes Insurance and Insurance Shapes Crime

Univ Penn

Research output: Contribution to journal › Article › peer-review

Abstract

Crime creates demand for insurance but supplying insurance may promote crime. We examine five case studies of insured crimes (auto theft, art theft, kidnap and hijack for ransom, ransomware, and payment card fraud) and find a co-evolutionary process through which insurers engage with insureds, governments, and legal and extralegal third parties to mitigate losses, particularly when criminal innovations destabilize the insurance market. “Insurance as crime governance” stimulates demand for security, shapes criminal incentives, engages with the state to combat crime, and tolerates some crime in the interest of profitability.

Original language	English
Journal	Journal of Legal Analysis
Publication status	Published - 2023

Keywords

insurance
crime
Governance

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Cite this

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How Crime Shapes Insurance and Insurance Shapes Crime

Abstract

Keywords

UN SDGs

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