This article asserts that the market for property insurance, particularly homeowners insurance, in the State of Florida is experiencing failures, and that a combination of market problems, externalities, and interventions unique to Florida led to these failures. The authors provide evidence of...

This study examines the effect of tort reform on medical malpractice insurers with an emphasis on the effect of cap levels on noneconomic damages. While previous research finds that caps on noneconomic damages have a beneficial effect on insurer performance, these studies do not evaluate the...