Pure vs. Mutual Sick Insurance Societies. Evidence from Swedish Historical Data
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.
|Date of creation:||10 Sep 2001|
|Date of revision:|
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- Patricia Born & William M. Gentry & W. Kip Viscusi & Richard J. Zeckhauser, 1995.
"Organizational Form and Insurance Company Performance: Stocks versus Mutuals,"
NBER Working Papers
5246, National Bureau of Economic Research, Inc.
- 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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- Smith, Bruce D & Stutzer, Michael, 1995. "A Theory of Mutual Formation and Moral Hazard with Evidence from the History of the Insurance Industry," Review of Financial Studies, Society for Financial Studies, vol. 8(2), pages 545-77.
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