Flexible Rate Filing Insurance Rate Regulation as Alternative to Incentive Incompatibility in Prior-Approval

Jason Strauss

MPRA Paper from University Library of Munich, Germany

Abstract: Competition can be an effective regulator of rates in property-casualty insurance markets. While many states have moved to file-and-use or use-and-file provisions, some have adopted flexible rate-filing regulations (flex-rating) as a means of combining competitive forces with prior-approval regulation. This short note proposes a change to flex-rating so that it can be used to gradually transition a state from prior-approval to file-and-use or use-and-file.

Keywords: Insurance; Regulation; Flexible Rate Filing Regulation (search for similar items in EconPapers)
JEL-codes: G22 G28 L5 (search for similar items in EconPapers)
Date: 2008-10-17
New Economics Papers: this item is included in nep-ias and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11167

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