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Huebner International Series on Risk, Insurance and Economic Security

Fair Rate of Return in Property-Liability Insurance

Editors: Cummins, J. David, Harrington, Scott E. (Eds.)

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About this book

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.

Table of contents (6 chapters)

Table of contents (6 chapters)
  • Investment Income and Profit Margins in Property-Liability Insurance: Theory and Empirical Results

    Pages 1-26

    Fairley, William B.

  • The Massachusetts Model of Profit Regulation in Nonlife Insurance: An Appraisal and Extensions

    Pages 27-53

    Hill, Raymond D. (et al.)

  • A Discounted Cash Flow Approach to Property-Liability Insurance Rate Regulation

    Pages 55-78

    Myers, Stewart C. (et al.)

  • Insurance in an Equilibrium Asset-Pricing Model

    Pages 79-99

    Turner, Andrew L.

  • The Determination of Fair Profits for the Property-Liability Insurance Firm

    Pages 101-118

    Kraus, Alan (et al.)

Buy this book

eBook 85,59 €
price for Spain (gross)
  • ISBN 978-94-015-7753-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 103,99 €
price for Spain (gross)
  • ISBN 978-94-015-7755-7
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Fair Rate of Return in Property-Liability Insurance
Editors
  • J. David Cummins
  • Scott E. Harrington
Series Title
Huebner International Series on Risk, Insurance and Economic Security
Series Volume
6
Copyright
1987
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-94-015-7753-3
DOI
10.1007/978-94-015-7753-3
Softcover ISBN
978-94-015-7755-7
Series ISSN
0924-5014
Edition Number
1
Number of Pages
XVII, 150
Topics

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