Law and the Determinants of Property-Casualty Insurance

Topics:
Insurance
Tags:
Australian Prudential Regulation Authority,
Business Operations,
Corporate Insurance,
Finance,
Financial Planning,
Insurance
Source:
Australian Prudential Regulation Authority

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Overview: This article examines the importance of legal rights and enforcement in influencing property-casualty insurance (PCI) consumption. It examines the role of legal factors in determining insurance density across countries. In addition, measures of risk aversion, loss probability, and price, which overcome limitations of proxies used in the existing literature on insurance demand, are analyzed. Using a panel data set, the article applies generalized methods of moment dynamic system estimator, which relaxes the assumption of strict exogeneity of the regressors and produces unbiased and efficient estimates.

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Format: PDF | Size: 71KB | Date: Jun 2001 | Pages: 35

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