IDEAS home Printed from https://ideas.repec.org/a/taf/acbsfi/v12y2002i3p487-504.html
   My bibliography  Save this article

Growth, crisis and change in the insurance industry: a retrospect

Author

Listed:
  • Robin Pearson

Abstract

The insurance industry currently finds itself in a revolutionary situation characterized, in part, by the impact of new direct marketing techniques, facilitated by new technologies; by corporate restructuring and the creation of international mega-corporations; and by the accelerating globalization of the industry. This article surveys recent research on insurance history with the aim of placing these developments in their long-run context. Three areas are examined for evidence of continuities and discontinuities with the past: namely, the impact of technology, the interaction between markets and organizational change, and the globalization of insurance and its relationship to economic growth.

Suggested Citation

  • Robin Pearson, 2002. "Growth, crisis and change in the insurance industry: a retrospect," Accounting History Review, Taylor & Francis Journals, vol. 12(3), pages 487-504.
    • Handle: RePEc:taf:acbsfi:v:12:y:2002:i:3:p:487-504
    DOI: 10.1080/09585200210164610
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09585200210164610
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09585200210164610?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Robin Pearson, 1993. "Taking risks and containing competition: diversification and oligopoly in the fire insurance markets of the north of England during the early nineteenth century," Economic History Review, Economic History Society, vol. 46(1), pages 39-64, February.
    2. Yates, JoAnne, 1951-, 1993. "Co-evolution of information processing technology and use : interaction between the life insurance and tabulating industries," Working papers 3575-93., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    3. Oliver Westall, 1997. "Invisible, Visible and 'Direct' Hands: An Institutional Interpretation of Organisational Structure and Change in British General Insurance," Business History, Taylor & Francis Journals, vol. 39(4), pages 44-66.
    4. Yates, JoAnne, 1993. "Co-evolution of Information-Processing Technology and Use: Interaction between the Life Insurance and Tabulating Industries," Business History Review, Cambridge University Press, vol. 67(1), pages 1-51, April.
    5. Kenneth A. Froot, 1999. "The Financing of Catastrophe Risk," NBER Books, National Bureau of Economic Research, Inc, number froo99-1.
    6. Froot, Kenneth A. (ed.), 1999. "The Financing of Catastrophe Risk," National Bureau of Economic Research Books, University of Chicago Press, number 9780226266237, September.
    7. Yates, JoAnne, 1993. "Co-evolution of Information-Processing Technology and Use: Interaction between the Life Insurance and Tabulating Industries," Business History Review, Cambridge University Press, vol. 67(1), pages 1-51, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Maixe-Altes, J. Carles, 2011. "Governance in Spanish Savings Banks. A Historical Perspective," MPRA Paper 29535, University Library of Munich, Germany.
    2. Yang Zhang & Su Zhang & Fu-Chieh Hsu, 2023. "Crisis Management Performance of Upscale Hotels in the Greater Bay Area, China: A Comparative Study in a Complex Institutional Situation," Sustainability, MDPI, vol. 15(6), pages 1-24, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mary Tripsas, 2008. "Customer preference discontinuities: a trigger for radical technological change," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(2-3), pages 79-97.
    2. Yates, JoAnne, 1951-, 1996. "Early interactions between life insurance and computer industries : the Prudential's Edmund Berkeley and The Society of Actuaries Committee : 1946-1952," Working papers 3915-96., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    3. Orlikowski, Wanda J. (Wanda Janina), 1995. "Action and artifact : the structuring of technologies-in-use," Working papers 3867-95., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    4. Steven Shavell, 2014. "A General Rationale for a Governmental Role in the Relief of Large Risks," NBER Working Papers 20192, National Bureau of Economic Research, Inc.
    5. Brown, Jeffrey R. & Cummins, J. David & Lewis, Christopher M. & Wei, Ran, 2004. "An empirical analysis of the economic impact of federal terrorism reinsurance," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 861-898, July.
    6. Froot, Kenneth A., 2001. "The market for catastrophe risk: a clinical examination," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 529-571, May.
    7. Markus K. Brunnermeier & Stefan Nagel & Lasse H. Pedersen, 2009. "Carry Trades and Currency Crashes," NBER Chapters, in: NBER Macroeconomics Annual 2008, Volume 23, pages 313-347, National Bureau of Economic Research, Inc.
    8. Reid, Gavin C. & Smith, Julia A., 2009. "A coevolutionary analysis of organisational systems and processes: Quantitative applications to information system dynamics in small entrepreneurial firms," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(6), pages 762-781.
    9. Zhiguo He & Arvind Krishnamurthy, 2013. "Intermediary Asset Pricing," American Economic Review, American Economic Association, vol. 103(2), pages 732-770, April.
    10. Torben Andersen, 2001. "Managing Economic Exposures of Natural Disasters: Exploring Alternative Financial Risk Management Opportunities and Instruments," IDB Publications (Working Papers) 8934, Inter-American Development Bank.
    11. Péter Kondor & Dimitri Vayanos, 2019. "Liquidity Risk and the Dynamics of Arbitrage Capital," Journal of Finance, American Finance Association, vol. 74(3), pages 1139-1173, June.
    12. He, Zhiguo & Kelly, Bryan & Manela, Asaf, 2017. "Intermediary asset pricing: New evidence from many asset classes," Journal of Financial Economics, Elsevier, vol. 126(1), pages 1-35.
    13. Nell, Martin & Richter, Andreas, 2002. "Improving risk allocation through cat bonds," Working Papers on Risk and Insurance 10, University of Hamburg, Institute for Risk and Insurance.
    14. Y.M. Ermoliev & S.D. Flam, 2000. "Finding Pareto Optimal Insurance Contracts," Working Papers ir00033, International Institute for Applied Systems Analysis.
    15. Froot, Kenneth A. & O'Connell, Paul G.J., 2008. "On the pricing of intermediated risks: Theory and application to catastrophe reinsurance," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 69-85, January.
    16. Ralph S. J. Koijen & Motohiro Yogo, 2015. "The Cost of Financial Frictions for Life Insurers," American Economic Review, American Economic Association, vol. 105(1), pages 445-475, January.
    17. Zhigu He & Arvind Krishnamurthy, 2012. "A Model of Capital and Crises," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(2), pages 735-777.
    18. Lawrence Powell & David Sommer, 2007. "Internal Versus External Capital Markets in the Insurance Industry: The Role of Reinsurance," Journal of Financial Services Research, Springer;Western Finance Association, vol. 31(2), pages 173-188, June.
    19. van Lelyveld, Iman & Liedorp, Franka & Kampman, Manuel, 2011. "An empirical assessment of reinsurance risk," Journal of Financial Stability, Elsevier, vol. 7(4), pages 191-203, December.
    20. Xuanjuan Chen & Helen Doerpinghaus & Bing‐Xuan Lin & Tong Yu, 2008. "Catastrophic Losses and Insurer Profitability: Evidence From 9/11," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(1), pages 39-62, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:acbsfi:v:12:y:2002:i:3:p:487-504. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RABF21 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.