Technology, Monopoly, and the Decline of the Viatical Settlements Industry
- Topics:
- Insurance
- Tags:
- Business Operations,
- Finance,
- HIV Virus,
- Industry,
- Litigation,
- National Bureau Of Economic Research,
- Settlement
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Overview: The viatical settlement industry provides an opportunity for terminally-ill consumers, typically HIV patients, to exploit a previously untapped source of equity in existing life insurance contracts to finance consumption and medical expenses. The paper distinguishes two explanations for falling prices-an increase in market power, and a change in market expectations about the likelihood of further improvements in HIV care. It finds that both explanations have contributed to diminishing settlement prices over the last decade, but increased market power has been the more important driver in the most recent years.
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Format: PDF | Size: 260KB | Date: Mar 2005 | Pages: 36
