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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...
Persistent link: https://www.econbiz.de/10010817326
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...
Persistent link: https://www.econbiz.de/10010761821
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...
Persistent link: https://www.econbiz.de/10010761831
In the recent debate over the appropriate governmental level at which to regulate insurance markets, opponents of a new federal role often raise concerns about the adequacy of consumer protection if regulation is removed from the states. This paper analyzes the need for market conduct regulation...
Persistent link: https://www.econbiz.de/10010895742
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...
Persistent link: https://www.econbiz.de/10009466181
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...
Persistent link: https://www.econbiz.de/10005623931
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...
Persistent link: https://www.econbiz.de/10013225572
This paper tests for regulation-induced adverse selection in the Massachusetts automobile insurance market during the regulated period 1990-2005. The paper demonstrates the application of the Poterba-Finkelstein (2014) unused-observables test for adverse selection in a regulated insurance market...
Persistent link: https://www.econbiz.de/10013237153
Persistent link: https://www.econbiz.de/10011491939
This study uses data from a unique survey of the retirement planning behaviors of latemiddle-aged individuals living in New York State, to test hypotheses regarding the roleof earlier life experiences on the demand for long-term care insurance. Our primary focusis on previous provision of...
Persistent link: https://www.econbiz.de/10013403498