Competition, Regulation, and the Public Interest in Nonlife Insurance

Competition, Regulation, and the Public Interest in Nonlife Insurance provides a focused examination of the market structure, conduct, and economic performance of the nonlife insurance sector within the U.S. economy—a sector uniquely positioned between public utility and free market status. This study aims to critically analyze how current industry practices impact economic outcomes and to propose policy changes that could enhance the sector's social and economic contributions. Leveraging economic theories on workable competition, particularly Joe S. Bain's influential framework, the study sheds light on key issues such as market regulation, competitive behavior, and performance metrics in nonlife insurance, while also addressing broader implications for other financial sectors facing similar challenges. With a strategic emphasis on industry performance and practical policy outcomes, this investigation offers evidence-based insights into alternative regulatory models that may increase the industry's public value. By examining potential reforms in a historically resistant field, the study encourages an open-minded exploration of economic strategies that balance industry sustainability with the public interest. Supported by discussions with policy advisors, industry experts, and regulators, Competition, Regulation, and the Public Interest in Nonlife Insurance is an essential resource for scholars, policymakers, and professionals seeking a nuanced understanding of market regulation and competitive practices in insurance and adjacent financial industries.

This title was originally published in 1962.
Competition, Regulation, and the Public Interest in Nonlife Insurance provides a focused examination of the market structure, conduct, and economic performance of the nonlife insurance sector within the U.S. economy—a sector uniquely positioned between pu