Professionals, municipalities, public schools, directors, tavern owners and truck drivers have all been affected by the recent crisis in the price and availability of liability insurance. The lack of insurance has threatened the supply of vaccines and raised the price of a host of products.

What is the reason for the crisis? Is it a conspiracy among insurers? Fluctuating interest rates? Rising liability claims? An excess supply of lawyers? A number of explanations for the crisis are examined in this study which finishes with a review of possible policy approaches, including the institution of no fault liability.