The Effect of Valued Policy Laws on Selected Measures of Arson

Joe H. Murrey, Robert E. Pitts, Dennis S. Tosh and Kenneth W. Hollman

Journal of Insurance Issues, 1986, vol. 9, issue 2, 57-73

Abstract: A comment in a widely used insurance law text runs as follows: "Many American states have enacted valued policy laws applicable to fire insurance policies in case there has been a total loss. In such cases, the laws generally provide that the face value of the policy must be paid no matter whether the 'actual cash value' is less or not. … This study examines the impact of valued policy statutes on fire loss rates and arson across states. A cross-sectional regression modeling methodology is presented in which a socio-economic model of the environmental factors related to arson is developed. The impact of valued policy statutes on fire loss rates and arson is examined in the regression model with the socio-economic covaried with whether or not the state has(d) a valued policy statute.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:wri:journl:v:9:y:1986:i:2:p:57-73

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