CATASTROPHIC EVENTS LEADING TO DE FACTO LIMITS ON LIABILITY
This study conducts an overview of large technological systems in society to ascertain prevalence, if any, of situations that can lead to catastrophic effects where the resultant liabilities far exceed the insurances or assets subject to suit in court, thereby imposing de facto limits on liability. Several potential situations are examined: dam rupture, aircraft crash into a sports stadium, chemical plant accident, shipping disaster, and a toxic drug disaster. All of these events are estimated to have probabilities per year similar to or larger than a major nuclear accident and they are found to involve potential liability far exceeding the available resources, such as insurance, corporation assets, or government revenues.
- See also PB-261 842.
University of California, Los AngelesChemical, Nuclear and Thermal Engineering Department
Los Angeles, CA United States 90024
National Science FoundationResearch Applied to National Needs
Washington, DC United States 20550
- Solomon, K A
- Okrent, D
- Publication Date: 1977-5
- Pagination: 37 p.
- TRT Terms: Air transportation crashes; Chemical industry; Crashes; Dams; Disasters; Drugs; Failure; Freight transportation; Hazards; Insurance; Liabilities; Nuclear reactors; Poisons; Risk assessment; Tearing; Toxicity; Water transportation crashes
- Uncontrolled Terms: Chemical plants
- Old TRIS Terms: Cargo transportation; Dam failures; Nuclear reactor accidents; Ship accidents
- Subject Areas: Aviation; Finance; Freight Transportation; Marine Transportation; Safety and Human Factors;
- Accession Number: 00168776
- Record Type: Publication
- Source Agency: National Technical Information Service
- Report/Paper Numbers: UCLA-ENG-7732, NSF/RA-770131
- Contract Numbers: NSF-OEP75-20318
- Files: TRIS
- Created Date: Dec 27 1978 12:00AM