Carte Efficient Monopolies Thomas Von Ungern-Sternberg

Efficient Monopolies

The Limits of Competition in the European Property Insurance Market

Limbă: engleză
Legare: Copertă tare
Disponibilitate: În depozitul extern
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842.36 lei
This book presents startling evidence that state monopolies can produce better outcomes than the fre...

Informații despre carte

Limbă
engleză
Legare
Carte - Copertă tare
Publicat
2004
Pagini
172
EAN
9780199268818
ISBN
0199268819
Enbook ID
04531079
Greutate
316
Dimensiuni
144 x 224 x 14

Descriere completă

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.

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