But Ireland's taxpayers have taken on liabilities equivalent to 40 percent of G.D.P., a burden that will weigh on the economy for a generation unless the E.U. authorities provide some relief.
"If you get too heavily involved in these operations, then you take on liability, and nobody wants to do that," Mr. Goldwasser said.
Insurers engage in risk pooling when they take on liability for the cost of any necessary healthcare for many people, only some of whom will in fact be struck by health shocks in a given year.
Insurers are taking on liability for ever more cyber risk; a 2015 report revealed that cyber insurance gross written premiums now stand at over $2 billion[11].
Like leaders in Kirkland, officials in Austin say that with Google taking on liability for the cars, there was no reason not to bring them into town, and they could mean new access to transportation for seniors, the disabled and others who don't have it now.
Under a passport system covering the European Economic Area (a broader, watered-down version of the European Union), investors were supposedly covered by the Icelandic deposit-insurance scheme.The problem was that the banks took on liabilities that far outgrew Iceland's GDP.
Mooted new accounting rules may increase the size of pension liabilities on firms' balance sheets, and other proposals could exacerbate the effect of swings in the value of stocks and bonds.The third main reason for the explosion in pension buy-outs is a sharp fall in the fee that insurers are charging to take on liabilities.
All merchants would be required to upgrade their payments terminals to support EMV, or take on liability for fraudulent transactions.
Additionally, why even bother taking on the liability and responsibility of making such determinations?
