One unusual feature of the U.S. property-casualty insurance industry is the coexistence of stock and mutual companies … insurance companies respond to differences in their underwriting environment. Agency theories suggest that the stock company may …' performance, by state and by line, in eight different lines of insurance. Stock companies are more likely than mutuals to reduce …

Care Act (ACA)'s Health Insurance Marketplaces. The RC program, which was defunded ahead of coverage year 2016, and ended … defunding, had greater premium increases in 2017, after the program ended. Insurance markets in which more insurers made RC …

This paper presents new evidence on the importance of adverse selection in insurance markets. We use a unique data set …, consisting of all annuity policies sold by a large U.K. insurance company since the early 1980s, to analyze mortality differences … asymmetric information in insurance markets. We find no evidence of mortality differences, however, across annuities of different …

nondiversifiable human capital investment. In the absence of complete insurance markets for human capital, the decentralized … efficient reallocation and full insurance when human capital is mobile at some cost, due to the endogeneity of the initial …

when firms offer "price contracts" which allow clients to purchase as much insurance as they wish at the quoted prices. We … effort, full insurance ii) positive profit price equilibrium - positive profit, positive effort, partial insurance iii) zero … insurance price equilibrium - zero insurance, zero profit, positive effort. We also demonstrate circumstances under which the …

This paper examines the existence and nature of competitive equilibrium with moral hazard. The more insurance an … individual has, the less care will he take. Consequently, insurance firms attempt to restrict their clients' aggregate insurance … purchases. If individuals' aggregate insurance purchases are observable, each firm will ration the amount of insurance its …