ROLE OF ECONOMIC FACTORS IN PROPERTY LIABILITY INSURANCE CONSUMPTION: EMPIRICALLY EXAMINING THE INDIAN MARKET

Abhijit Mukherjee and Amlan Ghosh
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Abhijit Mukherjee: Department of Management Studies, National Institute of Technology, Durgapur, India
Amlan Ghosh: Department of Management Studies, National Institute of Technology, Durgapur, India

Studies in Business and Economics, 2022, vol. 17, issue 1, 112-129

Abstract: The association of property liability insurance (PLI) consumption with economic growth in the post liberalized era has already been established justifying the need to analyze the economic factors which lead to PLI development. The empirical examination reveals that income and trade development have a positive relation with PLI consumption whereas negative relationship is obtained for interest rate movement and financial development. However, inconclusive relation is derived for infrastructure development and price of insurance. The findings will assist the policymakers, insurance regulator and insurance statutory body in stimulating PLI consumption by focusing on the identified economic factors and devise policies to support the growth in PLI sector.

Keywords: Property Liability Insurance; Economic factors; Time series; Economic growth; India (search for similar items in EconPapers)
Date: 2022
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