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Insurance markets and unisex tariffs: is the European Court of Justice improving or destroying welfare?

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  • Jörn Sass
  • Frank Seifried

Abstract

We analyze the effects of mandatory unisex tariffs in insurance contracts, such as those required by a recent ruling of the European Court of Justice, on equilibrium insurance premia and equilibrium welfare. In a unified framework, we provide a quantitative analysis of the associated insurance market equilibria in both monopolistic and competitive insurance markets. We investigate the welfare loss caused by regulatory adverse selection and show that unisex tariffs may cause market distortions that significantly reduce overall social welfare.

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  • Jörn Sass & Frank Seifried, 2014. "Insurance markets and unisex tariffs: is the European Court of Justice improving or destroying welfare?," Scandinavian Actuarial Journal, Taylor & Francis Journals, vol. 2014(3), pages 228-254.
    • Handle: RePEc:taf:sactxx:v:2014:y:2014:i:3:p:228-254
    DOI: 10.1080/03461238.2012.683450
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    Cited by:

    1. Javier Pla-Porcel & Manuel Ventura-Marco & Carlos Vidal-Meliá, 2017. "How do unisex life care annuities embedded in a pay-as-you-go retirement system affect gender redistribution?," Documentos de Trabajo del ICAE 2017-11, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.

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