Regulation and Quality Competition in the US Insurance Industry

Mark Pauly, Howard Kunreuther and Paul Kleindorfer

Chapter 3 in The Economics of Insurance Regulation, 1986, pp 65-107 from Palgrave Macmillan

Abstract: Abstract Insurance in the United States is regulated by each of the fifty states. Variation in this regulation across states permits a natural experiment for investigation of regulatory effects. There is also considerable variation in regulation across lines of insurance: automobile and other property/casualty insurance premiums are directly regulated in more than half of the states; in contrast, life insurance premiums are only (weakly) regulated in two states. Life insurance regulation is primarily limited to loss reserves.

Keywords: Market Share; Ordinary Little Square; Life Insurance; Loss Ratio; Input Price (search for similar items in EconPapers)
Date: 1986
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DOI: 10.1007/978-1-349-18397-5_3

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