ABSTRACT

Summary

In this chapter, Multicriteria Decision Analysis (MCDA) is used to assist decision-making about the insurability of nanotechnology—a prospect fraught with uncertainty. The focus of this case is not on obtaining a decision but instead an attempt to combine all available information to assess potential liabilities associated with the use of specific materials. This case provides insight into how MCDA methods can be tailored to specific insurance industry needs of deciding on policy underwriting costs. It has a similar structure to the case in Chapter 11 but uses Multi-Attribute Utility Theory (MAUT) techniques.