Die Katastrophen-Versicherung in Spanien
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.
|Date of creation:||Nov 1997|
|Publication status:||Published in Thomas von Ungern-Sternberg, Gebäudeversicherung in Europa - Die Grenzen des Wettbewerbs, Haupt Verlag, 2002, pp. 63-86|
|Contact details of provider:|| Postal: Université de Lausanne, Faculté des HEC, DEEP, Internef, CH-1015 Lausanne|
Phone: ++41 21 692.33.20
Web page: http://www.hec.unil.ch/deep/publications/cahiers/series
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- Thomas VON UNGERN-STERNBERG, 1995. "Kritische Überlegungen zu dem Gutachten von Professor Schips über die kantonalen Gebäudeversicherungsmonopole," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9502, Université de Lausanne, Faculté des HEC, DEEP.
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