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Die Katastrophen-Versicherung in Spanien

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  • Thomas VON UNGERN-STERNBERG

Abstract

This paper studies the state building insurance monopoly in Spain, the Consorcio the Compensacion de Seguros. It is shown that, just like its Swiss counterparts, the Consorcio operates with exceptionally low transactions costs. Furthermore it allows the supply of a very low cost insurance cover in a domain, where competition would usually lead to market failure due to problems of adverse selection. The existence of the Consorcio is in contradiction with the 3rd EU guidelines on the insurance market, however Spain managed to get an exemption.

Suggested Citation

  • Thomas VON UNGERN-STERNBERG, 1997. "Die Katastrophen-Versicherung in Spanien," Cahiers de Recherches Economiques du Département d'économie 9716, Université de Lausanne, Faculté des HEC, Département d’économie.
    • Handle: RePEc:lau:crdeep:9716
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    File URL: http://www.hec.unil.ch/deep/textes/9716.pdf
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    References listed on IDEAS

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    1. Thomas VON UNGERN-STERNBERG, 1995. "Kritische Überlegungen zu dem Gutachten von Professor Schips über die kantonalen Gebäudeversicherungsmonopole," Cahiers de Recherches Economiques du Département d'économie 9502, Université de Lausanne, Faculté des HEC, Département d’économie.
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    Cited by:

    1. Thomas Von Ungern‐Sternberg, 2001. "Die Vorteile des Staatsmonopols in der Gebäudeversicherung: Erfahrungen aus Deutschland und der Schweiz," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 2(1), pages 31-44, February.
    2. Thomas VON UNGERN-STERNBERG, 2000. "Die Abschaffung der Monopole in der deutschen Gebäudeversicherung : Lehren für die Schweiz," Cahiers de Recherches Economiques du Département d'économie 00.05, Université de Lausanne, Faculté des HEC, Département d’économie.

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    1. Mario Jametti & Thomas von Ungern-Sternberg, 2005. "Assessing the Efficiency of an Insurance Provider—A Measurement Error Approach," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 30(1), pages 15-34, June.
    2. von Ungern-Sternberg, Thomas, 1996. "The limits of competition: Housing insurance in Switzerland," European Economic Review, Elsevier, vol. 40(3-5), pages 1111-1121, April.
    3. Thomas Von Ungern‐Sternberg, 2001. "Die Vorteile des Staatsmonopols in der Gebäudeversicherung: Erfahrungen aus Deutschland und der Schweiz," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 2(1), pages 31-44, February.

    More about this item

    Keywords

    catastrophe insurance; state monopoly; adverse selection; Spain; EU-legislation;
    All these keywords.

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L42 - Industrial Organization - - Antitrust Issues and Policies - - - Vertical Restraints; Resale Price Maintenance; Quantity Discounts
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • L99 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Other

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