The EU regulatory framework for e-communications was adopted by the European Parliament and the Council in 2002, and became applicable from 2003. It has three primary objectives: (1) to promote competition; (2) to develop the single market; and (3) to promote citizens' rights. The European...

This paper empirically tests the predictions of the Priest-Klein model of pre-trial bargaining. It exploits variation in tort liability for bad faith insurance law across states and time during two decades of evolving law from the 1970s to the 1990s. Using repeated cross-sectional datasets of...

This study points out a potential unintended effect of efforts to enhanceaffordability of insurance prices by regulating rates: It may ultimately lead tohigher insurance costs. This is because rate regulation that suppresses insuranceprices below competitive levels, or provides significant...

This paper analyzes the impact of rate regulation on the structure of insurance markets for private passenger automobile insurance. The paper argues that states' restrictions on automobile insurers' rates of return will distort the structure of the market by distorting insurers' entry and output...

In the debate over the proposed establishment of a new Consumer Financial Protection Agency, much attention has been given to discussion of whether consumers are irrational or incompetent and therefore need paternalistic regulators to look after them, and whether inadequate consumer protection...

Despite the presence of many and diverse sellers of insurance in most markets, insurance prices in some markets remain subject to regulation by state governments. Insurance rate regulation has a long and storied history in this country and the reasons for its continued existence are subject to...

This paper examines the relationship between mergers and acquisitions, efficiency, and scale economies in the US life insurance industry. We estimate cost and revenue efficiency over the period 1988-1995 using data envelopment analysis (DEA). The Malmquist methodology is used to measure changes...

This paper examines consumer protection regulation in insurance markets and discusses how regulation could be made more efficient and robust. The paper argues that regulatory costs could be lowered and effectiveness enhanced by better targeting regulations to address market failures. Regulations...

Research seeking to understand financial literacy and to enhance it through training or education is receiving greater attention and emphasis from policymakers. Unfortunately, relatively little of this research has focused on insurance products and consumers. This policy brief reviews what is...