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Insurance Distribution Systems

In: Handbook of Insurance

Author

Listed:
  • James I. Hilliard

    (Temple University)

  • Sharon Tennyson

    (Cornell University)

Abstract

This chapter details the use of insurance distribution systems in practice, highlights the theoretical support for the presence of various distribution systems within the insurance marketplace, and discusses public policy and regulatory issues related to insurance distribution. Three important economic issues form the centerpiece of the discussion. The first is the economic rationale for the choice of distribution system and the variety of distribution systems observed in the industry. The second is the nature of insurer-agent relationships and the role and consequences of alternative compensation methods for intermediaries. The third is the economics of regulatory oversight of insurance distribution. Both the US and international contexts are considered.

Suggested Citation

  • James I. Hilliard & Sharon Tennyson, 2025. "Insurance Distribution Systems," Springer Books, in: Georges Dionne (ed.), Handbook of Insurance, edition 0, pages 381-413, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-69674-9_12
    DOI: 10.1007/978-3-031-69674-9_12
    as

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    More about this item

    Keywords

    Insurance distribution system; Various distribution systems; Public policy; Regulatory issues; Choice of the distribution system; Insurer-agent relationship; Compensation methods for intermediaries; US and international contexts;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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