The political economy of campaign contributions in insurance markets

Patricia Born, James Bradley Karl and Lawrence Powell

Risk Management and Insurance Review, 2024, vol. 27, issue 1, 41-55

Abstract: Contributions to election campaigns are tracked by the National Institute on Money in State Politics. In this paper, we use this data to examine patterns in political campaign contributions made by the insurance industry. We compile a state‐level data set that aggregates over 67,000 election campaign contributions to insurance regulators and governors; we show that candidate incumbency status is associated with a 20% to 30% increase in the share of contributions made to the incumbent insurance regulator's political party. Because incumbents are overwhelmingly favored to win elections, the industry's behavior suggests that insurers are more concerned with access to the elected official than with supporting a candidate that shares the industry's goals.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/rmir.12263

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:rmgtin:v:27:y:2024:i:1:p:41-55

Access Statistics for this article

Risk Management and Insurance Review is currently edited by Mary A. Weiss

More articles in Risk Management and Insurance Review from American Risk and Insurance Association
Bibliographic data for series maintained by Wiley Content Delivery ().