calibrated model of employer-sponsored health insurance, we show that the risk adjustment commonly used by employers to offset …

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 …

the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of …

This paper investigates the incentive effects of automobile insurance, compulsory insurance laws, and no … 1970-1998, a period in which many states adopted compulsory insurance regulations and/or no-fault laws. Using an … instrumental variables approach, we find evidence that automobile insurance has moral hazard costs, leading to an increase in …

This paper investigates the rationale for government intervention in the market for terrorism insurance, focusing on … rational terrorists. Government subsidies for terror insurance can discourage self-protection and limit the inefficiencies …

these changes should have affected the equilibrium prices of property-casualty insurance policies, and explores the extent … insurance policy and industry data on premiums earned. Although the predicted impact of the changes in the tax rules enacted in … longest-tail line of insurance, in 1987), it is small relative to the variability of the actual loss experience …

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 …