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Author: J. David Cummins Publisher: Springer Science & Business Media ISBN: 9401577536 Category : Business & Economics Languages : en Pages : 164
Book Description
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.
Author: J. David Cummins Publisher: Springer Science & Business Media ISBN: 9401577536 Category : Business & Economics Languages : en Pages : 164
Book Description
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.
Author: United States. Department of Justice. Antitrust Division Publisher: ISBN: Category : Business & Economics Languages : en Pages : 128
Book Description
Originally prepared as a working paper by the Antitrust Division of the Dept. of Justice. Cf. U.S. Task Group on Antitrust Immunities. Report."[Prepared in connection with a study conducted] at the request of the Task Force [i.e. Group] on Antitrust Immunities." Includes bibliographical references.
Author: Chester Arthur Williams Publisher: ISBN: Category : Business & Economics Languages : en Pages : 118
Book Description
Price Discrimination in Property and Liability Insurance was first published in 1959. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions.This booklet provides a detailed study of the factors which enter into price discrimination in property and liability insurance. The regulations which control these insurance prices rest with the state governments and vary, therefore, from one state to the next. After discussing the question of what constitutes price discrimination in this field, Professor Williams examines the regulatory statutes of various states and the administration of these statutes.This is number 19 in the series, University of Minnesota Studies in Economics and Business.
Author: J. David Cummins Publisher: Rowman & Littlefield ISBN: 0815798415 Category : Business & Economics Languages : en Pages : 421
Book Description
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).
Author: J. David Cummins
Author: J. David Cummins
Author: Neil A. Doherty
Author: Kyung Lyong Lee
Author: United States. Department of Justice
Author: United States. Department of Justice. Antitrust Division
Author: New York (State). Insurance Department
Author: Chester Arthur Williams
Author: New York (State). Insurance Department
Author: J. David Cummins
Author: Joseph Carl Samprone