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The Economics of Property-Casualty Insurance

The Economics of Property-Casualty Insurance presents new research and findings on key aspects of the economics of the property-casualty insurance industry. The volume explores the industrial organization, regulation, financing, and taxation of this business.

The first paper, on external financing and insurance cycles, contains a wealth of information on trends and patterns in the industry’s financial structure. The last essay, which compares performance of stock and mutual insurance companies, takes a fresh look at the way a company’s organizational structure affects its responses to different economic situations. Two papers focus on rate regulation in the auto insurance industry, and provide broad overviews of the structure and economics of the insurance industry as a whole. Also addressed are the system of regulating insurance companies in the United States, who insures the insurers, and the effects of tax law changes in the 1980s on the prices of insurance policies.

Table of Contents

Introduction by David F. Bradford
1: External Financing and Insurance Cycles
Anne Gron, Deborah Lucas.
2: The Effects of Tax Law Changes on Property-Casualty Insurance Prices
David F. Bradford, Kyle D. Logue.
3: The Causes and Consequences of Rate Regulation in the Auto Insurance Industry
Dwight M. Jaffee, Thomas Russell.
4: Rate Regulation and the Industrial Organization of Automobile Insurance
Susan J. Suponcic, Sharon Tennyson.
5: The Costs of Insurance Company Failures
James G. Bohn, Brian J. Hall.
6: Organizational Form and Insurance Company Performance: Stocks versus Mutuals
Patricia Born, William M. Gentry, W. Kip Viscusi [et al.].
Author Index
Subject Index

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