Controlling automobile insurance costs

Article Abstract:

The number of uninsured motorists continues to grow as automobile insurance costs increase. Rising automobile insurance costs can be traced primarily to increases in cost factors. Arbitrary rate rollbacks and rate regulation are unlikely to be effective in controlling costs because such measures merely address the symptoms of the automobile insurance problem, rather than the underlying causes. Ensuring competitive insurance markets and reducing excessive claims costs will hopefully become better controls of increases in automobile insurance prices.

Evaluation, Economic aspects, Rate regulation

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Economic institutions and individual ethics: a study of consumer attitudes toward insurance fraud

Article Abstract:

A study aimed at analyzing the determinants of consumer attitudes towards filing automobile insurance claims has revealed results that support the two hypotheses on the determinants of attitudes toward insurance fraud. Accepting attitutes toward insurance fraud may be related to factors that distinguish the general social fabric and not to problems with insurance institutions. Results of the study show that more general norms of honesty must be altered if the perceived acceptability of insurance fraud is to be greatly reduced.

Direct Property and Casualty Insurance Carriers, Fire, marine, and casualty insurance, Auto Insurance, Analysis, Ethical aspects, Insurance claims adjustment, Claims adjustment (Insurance), Insurance fraud

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The coexistence of distribution systems under price search: theory and some evidence from insurance

Article Abstract:

A pure price search model for an insurance market is shown to be effective in generating price distributions in specific insurance markets. The model's effectivity is based on the separation of firms and consumers into two market sectors and evaluating the effectivity of two price search techniques among marketing strategies. The generated price distribution is a useful gauge of consumer response to insurance products, but is not the sole determinant of product choice.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Pricing Policy, Models, Insurance industry, Pricing

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