Efficient Monopolies - The Limits of Competition in the European Property Insurance Market (Hardcover)

This book presents startling evidence that state monopolies can produce better outcomes than the free market. It provides an empirical comparison of the property insurance market in five European countries: Britain, Spain, France, Switzerland, and Germany. The market and cost structures of insurers in each country are described, and particular features of each market and the outcomes for customers examined. The regulatory frameworks vary widely from country to country and so do the market outcomes, both in terms of premium level and in terms of available insurance cover. In view of the increase in major floods and other forms of natural damage (such as subsidence) over the last decades, the non-availability of insurance cover in many competitive insurance systems is likely to become a major political issue. This book shows that state monopoly is an adequate policy response. Competitive insurance systems are shown to provide incomplete cover at a substantially higher cost. In mixed systems, where the private sector can obtain reinsurance from the state (such a system is being tried in France) the state tends to end up paying most of the costs (it reinsures most of the bad risks) while the private insurance companies keep most of the premium income. The book will be of interest to academic economists interested in privatization, regulation, the theory of the firm, and insurance; Policy-makers concerned with regulation and privatization; Insurance companies, regulators, and analysts.

General

Imprint:	Oxford UniversityPress
Country of origin:	United Kingdom
Release date:	February 2004
First published:	May 2004
Authors:	Thomas Von Ungern-Sternberg
Dimensions:	224 x 144 x 14mm (L x W x T)
Format:	Hardcover
Pages:	172
ISBN-13:	978-0-19-926881-8
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Economics > Microeconomics > General Books > Business & Economics > Economics > Economic systems > General Books > Business & Economics > Finance & accounting > Finance > Insurance > General Books > Money & Finance > Insurance > General Promotions
LSN:	0-19-926881-9
Barcode:	9780199268818

Is the information for this product incomplete, wrong or inappropriate? Let us know about it.

Does this product have an incorrect or missing image? Send us a new image.

Is this product missing categories? Add more categories.

Review This Product

No reviews yet - be the first to create one!