liability insurance


Cartels, competition and regulation in the property- liability insurance industry
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This paper provides a detailed study of the structure, behavior, and performance of the property and liability insurance industry in the United States. The property insurance industry is shown to possess all of the structural characteristics normally associated with competitive

An international analysis of underwriting cycles in property- liability insurance
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Most prior analyses of underwriting cycles have explained cycles as a supply-side phenomenon involving irrational behavior on the part of insurers. This paper proposes instead that insurance prices are set according to rational expectations. Although rational

An investigation of the performance of the US property- liability insurance industry
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This article presents an empirical analysis of the economic performance of the US property- liability insurance industry, using estimations across 18 lines of insurance for the years 1984 through 1993. It adopts an industrial organization approach, focusing on the economic loss

Catastrophic shocks in the property- liability insurance industry: Evidence on regulatory and contagion effects
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Natural disasters are conjectured to have two opposing effects on insurance firm values: a negative effect due to payments on policyholders claims and a positive effect due to expectations of higher premiums. We test for the presence and relative strengths of these

Kinked utility and the demand for human wealth and liability insurance
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In the last twenty years a number of articles on the theory of the demand for insurance have been published1 and as a result a fairly realistic theory of property insurance has been developed. However, little attention has so far been paid to a peculiarity of human wealth

Officers and Directors: Indemnification and Liability Insurance An Update
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Novel and alarming theories of liability, asserted in countless lawsuits against corporate officers and directors in recent years, have brought a new awareness of exposure to such officials and their lawyers. Yales Professor Bishop suggests that the Damocles sword of

Rating Bureaus in US Property Liability Insurance Markets: Anti or Pro-competitive
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Under the US federal anti-trust law, horizontal price fixing is per se illegal. In 1945 the McCarran-Ferguson Act granted the insurance industry exemption from federal anti-trust law, provided that it is subject to state regulation. 1 Subsequently, all states enacted some

The effects of firm specific factors and macroeconomics on profitability of property- liability insurance industry in Taiwan
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This article investigates the relationship between firm specific factors and macroeconomics on profitability in Taiwanese property- liability insurance industry using the panel data over the1999 through 2009 time period. Using operating ratio and return on assets (ROA) for the

Peril and Fortuity in Property and Liability Insurance
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Invoking an apparently self-evident legal proposition is a particularly ef fective rhetorical device, especially if that proposition has ancient roots. One such proposition often invoked by insurers1 is that both property and liability insurance cover only the risk of fortuitous loss

The moderating effects of switching costs and inertia on the customer satisfaction-retention link: auto liability insurance service in Taiwan
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Satisfaction, inertia, and switching costs are important factors affecting customer retention. However, the moderating effects of inertia and switching costs on the satisfaction-retention link in the auto liability insurance context have not been concluded. The purpose of this

The distribution of automobile liability insurance : an alternative
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An alternative system for the distribution of automobile liability insurance is proposed. The system is based upon directly linking insurance premiums to measures of an individuals risk through a two-part pricing system based on ex-ante and ex-post fees and upon collecting

Bank Liability Insurance Schemes in the US Before 1865
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Prior to 1861, several US states established bank liability insurance schemes. One type was an insurance fund. Member banks paid into a state-run fund that would pay losses of bank creditors. Another type was a mutual guarantee system. Member banks were legally

Public policy and property- liability insurance
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The property- liability insurance industry has experienced significant turmoil during the past decade. Three related issues have received enormous attention: increases in the frequency and severity of insurance company insolvencies, high and increasing costs of automobile

Property- Liability Insurance Accounting and Finance
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Amazon.in Buy Property Liability Insurance Accounting and Finance book online at best prices in India on Amazon.in. Read Property Liability Insurance Take a few minutes and read our liability insurance guide for accountants, CPAs and . Accountants prepare and examine financial records

Market structure, efficiency, and performance in the European property- liability insurance industry
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Restructuring and consolidation of the European insurance marketplace is occurring due to the creation of a single integrated European insurance market. Consolidation raises public policy questions concerning the impact on consumers from consolidation. The structure

Financial Rating Changes and Market Discipline in Property- Liability Insurance
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We analyze premium growth surrounding ratings changes by the AM Best Company during 1992-1996 for a large panel of property-liability insurers. Consistent with substantial market discipline for rated insurers, univariate compari
sons and fixed effects regressions generally

The US property and liability insurance industry: Firm size, growth and impact of guaranty fund
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Abstract The longstanding GibratLaw is tested for the US Property and Liability (PL) insurance market and the effects of guaranty fund system on the insurance prices are analyzed, using data sets for the years 1992-2000. First, based on a complete panel data

A comparative economic analysis of tort liability and no-fault compensation systems in automobile insurance
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Based on an analysis of annual loss ratio data by state for automobile liability insurance during 1975-1980, the economic impact of no-fault automobile insurance on the relative benefits and costs to consumers and on the predictability of relative loss costs for insurers is

Pollution liability and insurance: an application of economic theory
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August Ralston ABSTRACT Recently, interest has emerged in pollution liability insurance (PLI) as a response to the pollution risk Williams, for example, addressed this question in detail in his study of water pollution liability insurance [17, pp. 119-135]

Capital allocation in the property- liability insurance industry
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Capital allocation is a theoretical exercise, since all of a firms capital could be depleted to cover a significant loss arising from any one segment. However, firms do need to allocate capital for pricing, risk management, and performance evaluation. One versatile allocation