Flexible Rate Filing Insurance Rate Regulation as Alternative to Incentive Incompatibility in Prior-Approval
AbstractCompetition can be an effective regulator of rates in property-casualty insurance markets. While many states have moved to file-and-use or use-and-file provisions, some have adopted flexible rate-filing regulations (flex-rating) as a means of combining competitive forces with prior-approval regulation. This short note proposes a change to flex-rating so that it can be used to gradually transition a state from prior-approval to file-and-use or use-and-file.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 11167.
Date of creation: 17 Oct 2008
Date of revision:
Insurance; Regulation; Flexible Rate Filing Regulation;
Find related papers by JEL classification:
- L5 - Industrial Organization - - Regulation and Industrial Policy
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-21 (All new papers)
- NEP-IAS-2008-10-21 (Insurance Economics)
- NEP-REG-2008-10-21 (Regulation)
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