Deregulating Property-Liability Insurance

Deregulating Property-Liability Insurance
Author: J. David Cummins
Publisher: Rowman & Littlefield
Total Pages: 424
Release: 2004-06-23
Genre: Business & Economics
ISBN: 9780815798415


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Over the past two decades, the United States has successfully deregulated prices and restrictions on most previously-regulated industries, including airlines, trucking, railroads, telecommunications, and banking. Only a few industries remain regulated, the largest being the property-liability insurance business. In light of recent sweeping financial modernization legislation in other sectors of the insurance industry, this timely volume examines the basis for continued regulation of rates and forms of the U.S. property-liability insurance market. The book focuses on private passenger automobile insurance—the most important personal line of property-liability coverage, with annual premiums of about $120 billion. The authors analyze five state case studies: California, Massachusetts, and New Jersey—three of the most heavily regulated states—as well as Illinois, which has been deregulated for about 30 years, and South Carolina, which began to deregulate in 1997. The study also includes an econometric analysis based on all fifty states over a 25-year period that gauges the impact of regulation on insurance price levels, price volatility, and the proportion of automobiles insured in residual markets. The authors conclude that regulation does not significantly reduce long-run prices for consumers, and generally limits availability of coverage, reduces the quality and variety of services available in the market, inhibits productivity growth, and increases price volatility. Contributors include Dwight Jaffee (University of California, Berkeley), Thomas Russell (Santa Clara University ), Laureen Regan (Temple University), Sharon Tennyson (Cornell University), Mary Weiss (Temple University), John Worrall (Rutgers University), Stephen D'Arcy (University of Illinois, Urbana-Champaign), Martin Grace (Georgia State University), Robert Klein (Georgia State University), Richard Phillips (Georgia State University), Georges Dionne (University of Montreal), and Richard Butler (Brigham Young University).


Costs and Availability of Liability Insurance
Language: en
Pages: 566
Authors: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Categories: Insurance companies
Type: BOOK - Published: 1986 - Publisher:

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The Cost and Availability of Liability Insurance for Small Business
Language: en
Pages: 588
Authors: United States. Congress. Senate. Committee on Small Business
Categories: Liability insurance
Type: BOOK - Published: 1986 - Publisher:

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Deregulating Property-Liability Insurance
Language: en
Pages: 424
Authors: J. David Cummins
Categories: Business & Economics
Type: BOOK - Published: 2004-06-23 - Publisher: Rowman & Littlefield

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Over the past two decades, the United States has successfully deregulated prices and restrictions on most previously-regulated industries, including airlines, t
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Type: BOOK - Published: 2012-03-22 - Publisher: OUP USA

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Insurance coverage disputes raise issues in which laws and outcomes regularly vary from state to state. Whether a claim is covered can depend a great deal on wh
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Pages: 213
Authors: Institute of Medicine
Categories: Medical
Type: BOOK - Published: 2002-06-20 - Publisher: National Academies Press

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