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Price Regulation in US Automobile Insurance A Case Study of Massachusetts Private Passenger Automobile Insurance 1978–1990*

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  • Richard A Derrig,

Abstract

This short note highlights price regulation in the United States Personal Automobile Market by reviewing the results of the most highly-regulated U. S. market, the fix-and-establish system in Massachusetts during 1978 to 1990. Financial outcomes of the state-run market are shown. Effects of pricing policy on the size of the residual market, interclass subsidies and the participation of national property-casualty companies in the Massachusetts market are discussed. Contrasts with the post-proposition 103 California personal auto market are explored. Implications for guaranty funds are derived. Finally, the outlook for the Massachusetts and California personal auto markets is discussed together with implications for the upcoming integration of the EEC insurance markets.

Suggested Citation

  • Richard A Derrig,, 1993. "Price Regulation in US Automobile Insurance A Case Study of Massachusetts Private Passenger Automobile Insurance 1978–1990*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 18(2), pages 158-173, April.
    • Handle: RePEc:pal:gpprii:v:18:y:1993:i:2:p:158-173
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    Cited by:

    1. Richard A. Derrig & Sharon Tennyson, 2011. "The Impact of Rate Regulation on Claims: Evidence From Massachusetts Automobile Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 14(2), pages 173-199, September.
    2. Sharon Tennyson, 2007. "Efficiency Consequences of Rate Regulation in Insurance Markets," NFI Policy Briefs 2007-PB-03, Indiana State University, Scott College of Business, Networks Financial Institute.
    3. Sharon Tennyson, 2010. "Incentive Effects of Community Rating in Insurance Markets: Evidence from Massachusetts Automobile Insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 35(1), pages 19-46, June.
    4. Mary A. Weiss & Sharon Tennyson & Laureen Regan, 2010. "The Effects of Regulated Premium Subsidies on Insurance Costs: An Empirical Analysis of Automobile Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 597-624, September.

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