Download or read book The Cost of Capital and Rate Regulation of Property liability Insurance Companies written by Kyung Lyong Lee and published by . This book was released on 1977 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Cost of Capital and Rate Regulation of Property liability Insurance Companies written by Kyŏng-nyong Yi and published by . This book was released on 1977 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rate Regulation and the Cost of Capital in the Insurance Industry written by Robert A. Haugen and published by . This book was released on 1972 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fair Rate of Return in Property Liability Insurance written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Property-liability insurance rates for most lines of business are regulated in about one-half of the states. In most cases, this me ans that rates must be filed with the state insurance commissioner and approved prior to use. The remainder of the states have various forms of competitive rating laws. These either require that rates be filed prior to use but need not be approved or that rates need not be filed at all. State rating laws are summarized in Rand Corporation (1985). The predominant form of insurance rate regulation, prior approval, began in the late 1940s following the V. S. Supreme Court decision in United States vs. South-Eastern Underwriters Association, 322 V. S. 533 (1944). This was an anti trust case involving one of four regional associa tions of insurance companies, which constituted an insurance cartel. The case struck down an earlier decision, Paul vs. Virginia, 8 Wall 168 (1869), holding that the business of insurance was not interstate commerce and hence that state regulation of insurance did not violate the commerce clause of the V. S. Constitution. Following South-Eastern Underwriters, the Vnited States Congress passed the McCarran-Ferguson Act, which held that continued state regulation and taxation of insurance was in the public interest. The act also held that the federal antitrust laws would not apply to insurance to the extent that the business was adequately regulated by state law. (See V. S. Department of Justice 1977.
Download or read book Prices and Profits in the Property and Liability Insurance Industry written by Arthur D. Little, Inc and published by . This book was released on 1968 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insurance and Issues in Financial Soundness written by Nigel Davies and published by International Monetary Fund. This book was released on 2003-07-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.
Download or read book Insurance From Underwriting to Derivatives written by Eric Briys and published by John Wiley & Sons. This book was released on 2001-06-29 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the increasingly significant convergence between the insurance industry and the capital markets. This important publication, by two premier financial experts, explores the unique convergence of finance and insurance. The book covers the basics of property-casualty insurance, securitizing insurance risks, looks at life insurance in the United States and ALM in insurance. It addresses the questions and concerns of investment banks, brokerage firms and the insurance/reinsurance sector itself, examines ongoing trends and issues, and how current market pressures on insurance companies do not just create challenges but actually point the way to future promising developments.
Download or read book Deregulating Property Liability Insurance written by J. David Cummins and published by Rowman & Littlefield. This book was released on 2004-06-23 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the United States has successfully deregulated prices and restrictions on most previously-regulated industries, including airlines, trucking, railroads, telecommunications, and banking. Only a few industries remain regulated, the largest being the property-liability insurance business. In light of recent sweeping financial modernization legislation in other sectors of the insurance industry, this timely volume examines the basis for continued regulation of rates and forms of the U.S. property-liability insurance market. The book focuses on private passenger automobile insurance—the most important personal line of property-liability coverage, with annual premiums of about $120 billion. The authors analyze five state case studies: California, Massachusetts, and New Jersey—three of the most heavily regulated states—as well as Illinois, which has been deregulated for about 30 years, and South Carolina, which began to deregulate in 1997. The study also includes an econometric analysis based on all fifty states over a 25-year period that gauges the impact of regulation on insurance price levels, price volatility, and the proportion of automobiles insured in residual markets. The authors conclude that regulation does not significantly reduce long-run prices for consumers, and generally limits availability of coverage, reduces the quality and variety of services available in the market, inhibits productivity growth, and increases price volatility. Contributors include Dwight Jaffee (University of California, Berkeley), Thomas Russell (Santa Clara University ), Laureen Regan (Temple University), Sharon Tennyson (Cornell University), Mary Weiss (Temple University), John Worrall (Rutgers University), Stephen D'Arcy (University of Illinois, Urbana-Champaign), Martin Grace (Georgia State University), Robert Klein (Georgia State University), Richard Phillips (Georgia State University), Georges Dionne (University of Montreal), and Richard Butler (Brigham Young University).
Download or read book Investment Return and Property liability Insurance Ratemaking written by Robert Wayne Cooper and published by McGraw-Hill/Irwin. This book was released on 1974 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Regulation and Capital in the Property liability Insurance Industry written by Jiang Cheng and published by . This book was released on 2008 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solvency Regulation in the Property casualty Insurance Industry written by Patricia Munch and published by . This book was released on 1979 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Opportunities in the Property and Liability Insurance Industry written by Serng Jae Kim and published by . This book was released on 1985 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Profit Cycle in Property and Casualty Insurance written by Barbara D. Stewart and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Market Equilibrium and the Regulation of Property liability Insurance written by Raymond D. Hill and published by . This book was released on 1978 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Based Capital written by Lawrence D. Cluff and published by DIANE Publishing. This book was released on 2000 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relation between Capital Structure Interest Rate Sensitivity and Market Value in the Property Liability Insurance Industry written by Kim B. Staking and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The choice of financial structure is appropriately viewed as a complex, multidimensional decision by insurer management. Specific attention is given to traditional theories regarding capital structure, including the tradeoff between the tax benefits and increasing probability of incurring the cost of financial distress associated with leverage, and the tradeoff between protecting franchise or charter value and expropriating value through increasing exposure to interest rate risk. Within this framework, the relation between leverage, interest rate sensitivity and firm value is investigated in the property-liability insurance industry. Equity value, as gauged by Tobin's q, is determined to be related to an insurer's choice of financial structure. It is shown that the market value of equity at first grows but then later declines as leverage increases. Interest rate risk has the opposite effect. Equity value first declines with interest rate risk, but then rises at high levels of interest rate risk. These results are consistent with the prediction that financial institutions will expend scarce resources to control risk in order to protect franchise value and may indeed be signaling the existence of these valuable intangibles via these actions.
Download or read book Proceedings of the Casualty Actuarial Society written by Casualty Actuarial Society and published by . This book was released on 1999 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of members for the years 1914-20 are included in v. 1-7, after which they are continued in the Year book of the society, begun in 1922.
