Strauss, Jason (2008): Flexible Rate Filing Insurance Rate Regulation as Alternative to Incentive Incompatibility in Prior-Approval.
Download (54Kb) | Preview
Competition can be an effective regulator of rates in property-casualty insurance markets. While many states have moved to file-and-use or use-and-file provisions, some have adopted flexible rate-filing regulations (flex-rating) as a means of combining competitive forces with prior-approval regulation. This short note proposes a change to flex-rating so that it can be used to gradually transition a state from prior-approval to file-and-use or use-and-file.
|Item Type:||MPRA Paper|
|Original Title:||Flexible Rate Filing Insurance Rate Regulation as Alternative to Incentive Incompatibility in Prior-Approval|
|Keywords:||Insurance, Regulation, Flexible Rate Filing Regulation|
|Subjects:||L - Industrial Organization > L5 - Regulation and Industrial Policy
G - Financial Economics > G2 - Financial Institutions and Services > G22 - Insurance; Insurance Companies
G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation
|Depositing User:||Jason Strauss|
|Date Deposited:||19. Oct 2008 07:15|
|Last Modified:||12. Feb 2013 22:18|
Cummins, J. David, ed., 2002. Deregulating Property-Liability Insurance. Washington, D.C.: The American Enterprise Institute-Brookings Institution Joint Center for Regulatory Studies.
Eley, David, 2000. "Rate and Form Regulation in the Twenty-First Century." Journal of Insurance Regulation 18(3): 277.
Insurance Information Institute, 2008, III-Regulation Modernization. http://www.iii.org/media/hottopics/insurance/ratereg/ (accessed January 24, 2008).
New York Codes, Rules and Regulations (NYCRR), Regulation No. 153 (11 NYCRR 163) Section 163.2(e)
Property Casualty Insurers Association of America, 2007, Rate Regulation Laws for Personal Automobile Insurance. http://www.pciaa.net/sitehome.nsf/lcpublic/26/$file/rate%20regulation%20personal%20auto.pdf (accessed January 26, 2008).