Contestable markets for property-liability insurance: is rate and form regulation necessary?

Article Abstract:

The commercial property liability insurance industry is markedly competitive and contestable. The main benefit of such a market structure is the tendency toward efficiency wherein the product is made available at the lowest cost at optimal quality. The current rate and form regulation of insurance markets could be removed without affecting the industry's competitive status. In fact, such a deregulation would even make the industry more efficient. To make the market more contestable, entry and exit barriers should be eliminated and sunk costs should be reduced.

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The proposed federal earthquake insurance program: is it viable?

Article Abstract:

The possibility of the occurrence of a major earthquake between the years 1992 and 2122 in the US and estimated losses of about $52 billion have encouraged proposals for the establishment of a Federal Earthquake Insurance Program through appropriate legislation. The program aims to link the federal government and the insurance industry in a joint effort to address the insurance needs of victims. As of now, such losses would be uninsurable and most property owners are uninterested in buying earthquake insurance.

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Auto insurer Web sites: a buyer's perspective

Article Abstract:

The top 20 private passenger automobile insurers' Web sites are evaluated. Additional information on the evaluation process of insurers' Web sites is also included.

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