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Reflexivity in Competition-Originated Underwriting Cycles

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  • Vsevolod K. Malinovskii

Abstract

type="main" xml:lang="en"> This article addresses the fundamental observation that aggressive newcom- ers seeking greater market share trigger the industry response of reducing rates that may gradually fall below marginal cost. In this study, the concept of reflexivity as connection between the participants’ thinking and the situation in which they participate is applied. This article suggests applying as an insurance regulation technique, while the competition-originated cycle is in its early stage, the triplets of year-end market share, profit, and solvency indicators. It emphasizes the need for applying all these characteristics together, rather than the first two.

Suggested Citation

  • Vsevolod K. Malinovskii, 2014. "Reflexivity in Competition-Originated Underwriting Cycles," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 81(4), pages 883-906, December.
    • Handle: RePEc:bla:jrinsu:v:81:y:2014:i:4:p:883-906
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    Cited by:

    1. Christian Biener & Martin Eling & Shailee Pradhan, 2015. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 18(1), pages 129-141, March.

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