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The Performance Of The 1980s California Insurance And Liability Reforms

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  • W. Kip Viscusi
  • Patricia Born

Abstract

The authors examine the impact of Proposition 103. They contend that Proposition 103 reforms did not come at the expense of insurer profitability. Rather than exhibiting a decline in profitability following the adoption of Proposition 103, there was a substantial improvement in profitability which remains quite high relative to the rest of the country.

Suggested Citation

  • W. Kip Viscusi & Patricia Born, 1999. "The Performance Of The 1980s California Insurance And Liability Reforms," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 2(2), pages 14-33, January.
    • Handle: RePEc:bla:rmgtin:v:2:y:1999:i:2:p:14-33
    DOI: j.1540-6296.1999.tb00049.x
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    References listed on IDEAS

    as
    1. Viscusi, W Kip & Born, Patricia, 1995. "The General-Liability Reform Experiments and the Distribution of Insurance-Market Outcomes," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(2), pages 183-188, April.
    2. Danzon, Patricia M & Pauly, Mark V & Kington, Raynard S, 1990. "The Effects of Malpractice Litigation on Physicians' Fees and Incomes," American Economic Review, American Economic Association, vol. 80(2), pages 122-127, May.
    3. Viscusi, W. Kip, 1988. "Pain and suffering in product liability cases: Systematic compensation or capricious awards?," International Review of Law and Economics, Elsevier, vol. 8(2), pages 203-220, December.
    4. Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, vol. 50(1), pages 43-61, January.
    5. Fields, Joseph A. & Ghosh, Chinmoy & Kidwell, David S. & Klein, Linda S., 1990. "Wealth effects of regulatory reform *1: The reaction to California's proposition 103," Journal of Financial Economics, Elsevier, vol. 28(1-2), pages 233-250.
    6. James W. Hughes & Edward A. Snyder, 1989. "Evaluating Medical Malpractice Reforms," Contemporary Economic Policy, Western Economic Association International, vol. 7(2), pages 83-98, April.
    7. Joshua D. Angrist & Alan B. Keueger, 1991. "Does Compulsory School Attendance Affect Schooling and Earnings?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 979-1014.
    8. Paul L. Joskow, 1973. "Cartels, Competition and Regulation in the Property-Liability Insurance Industry," Bell Journal of Economics, The RAND Corporation, vol. 4(2), pages 375-427, Autumn.
    9. Viscusi, W Kip, 1990. "The Performance of Liability Insurance in States with Different Products-Liability Statutes," The Journal of Legal Studies, University of Chicago Press, vol. 19(2), pages 809-836, June.
    10. Viscusi, W. Kip & Zeckhauser, Richard J. & Born, Patricia & Blackmon, Glenn, 1993. "The Effect of 1980s Tort Reform Legislation on General Liability and Medical Malpractice Insurance," Journal of Risk and Uncertainty, Springer, vol. 6(2), pages 165-186, April.
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    12. Joskow, Paul L & McLaughlin, Linda, 1991. "McCarran-Ferguson Act Reform: More Competition or More Regulation?," Journal of Risk and Uncertainty, Springer, vol. 4(4), pages 373-401, December.
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