LIFE INSURANCE: REGULATION AS CONTRACT ENFORCEMENT

Alan Morrison ()

Economic Affairs, 2004, vol. 24, issue 4, 47-52

Abstract: Debating the minutiae of insurance regulation without a clear understanding of why insurance companies are regulated is futile. In this article I discuss the economic rationale for insurance business regulation and conclude that the appropriate role of the regulator is to enforce contracts which might otherwise be broken. I argue that if this is the case, regulation should be optional, and that it need not be a monopoly activity.

Date: 2004
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https://doi.org/10.1111/j.1468-0270.2004.00515.x

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Working Paper: Life Insurance: Regulation as Contract Enforcement (2004)
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