Since its inception, the effectiveness of no-fault legislation has been highly debated. While some research suggests that no-fault laws are effective in reducing costs, other evidence suggests that the current no-fault systems may not meet the original objectives. This study takes a closer look...

Few papers have analyzed the potential linkages between price distortions and the specific demographic and political traits of customers. The existence of price distortions may have adverse and potentially unintended impacts on certain demographic groups, leading to significant public policy...

The issue of subsidence is important in many parts of the country. Whether caused by mines collapsing, oil pumping, or weather, property owners are faced with how to finance these losses, which are not typically covered in standard property policies. Several states have devised funding...

Hurricane models are a significant tool used in estimating loss costs in catastrophe-prone areas. While the major hurricane loss cost models consider a consistent set of factors, there are variations in how the factors are treated in the models. This can lead to considerable variation in the...

The fundamental shift in rating methodology from historical loss costs to catastrophe modeling for windstorm coverage calls into question the accuracy of rates developed using rating territories. Using premiums and modeled average annual loss estimates from Citizens Property Insurance...

This paper examines the effect of hurricane mitigation features and their verification on the transaction prices of single-family homes. Some of these features are obvious to buyers and sellers (visible) and others are not easily observed (hidden). Prior research on the relationship between...

While unsolicited financial strength ratings have been studied in the banking literature, these sometimes controversial ratings have not been studied in insurance. Utilizing data from multiple sources including a proprietary dataset, we provide the most comprehensive examination of insurer...

There has been a significant increase in the use of social media and the volume of personal information provided on social networking websites. As such, social media has the potential for a variety of uses by businesses, including insurers. As the use becomes more widespread, insurers must...

This study provides a test of the eclectic paradigm with data from U.S. reinsurers. The U.S. reinsurance industry provides a unique setting to test the eclectic paradigm due to the extensive data available on U.S. reinsurers and the well-developed literature related to reinsurance. The ability...

This study examines the effect of the state of the international reinsurance market on the demand for reinsurance by U.S. insurers using data from the years 1993 through 2000. Both the overall demand for reinsurance and the utilization of foreign reinsurance by U.S. insurers are explored. In...