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Pure vs. Mutual Sick Insurance Societies. Evidence from Swedish Historical Data

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Abstract

Using data from voluntary Swedish sick insurance societies 1902-1910, this paper analyzes the coexistence of pure and mutual insurance societies where pure societies are characterized by charging ex ante premiums only while mutuals in addition charge ex post assessments. Mutual insurance societies are found, on average, to be larger and to offer longer insurance coverage duration. Pure insurance societies have, on average, higher insurance coverage per day, greater mean levels of moral hazard controls, a higher mean number of policy categories and are on average, older.

Suggested Citation

  • Nekby, Lena, 2001. "Pure vs. Mutual Sick Insurance Societies. Evidence from Swedish Historical Data," Research Papers in Economics 2001:10, Stockholm University, Department of Economics.
    • Handle: RePEc:hhs:sunrpe:2001_0010
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    1. Goeran Skogh, 1999. "Risk-Sharing Institutions for Unpredictable Losses," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(3), pages 505-505, September.
    2. Boozer, Michael A., 1997. "Econometric Analysis of Panel DataBadi H. Baltagi Wiley, 1995," Econometric Theory, Cambridge University Press, vol. 13(5), pages 747-754, October.
    3. Smith, Bruce D & Stutzer, Michael, 1995. "A Theory of Mutual Formation and Moral Hazard with Evidence from the History of the Insurance Industry," The Review of Financial Studies, Society for Financial Studies, vol. 8(2), pages 545-577.
    4. Patricia Born & William M. Gentry & W. Kip Viscusi & Richard J. Zeckhauser, 1998. "Organizational Form and Insurance Company Performance: Stocks versus Mutuals," NBER Chapters, in: The Economics of Property-Casualty Insurance, pages 167-192, National Bureau of Economic Research, Inc.
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    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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