Life Insurance: Regulation as Contract Enforcement

Debating the minutiae of insurance regulation without a clear understanding of why insurance companies are regulated is futile. In this non-technical essay I discuss the economic rationale for insurance business regulation. I conclude that the appropriate role of the regulator in this industry is to enforce contracts which would otherwise be broken. This implies that regulation should be optional, and that regulation need not be a monopoly activity.

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Year of publication:	2004-04-01
Authors:	Morrison, Alan
Institutions:	Department of Economics, Oxford University
Subject:	Insurance regulation \| contract enforcement

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Series:	Economics Series Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2004-FE-09
Classification:	G22 - Insurance; Insurance Companies ; G28 - Government Policy and Regulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010661448