Recent Evidence on the Liability Crisis: Abstract

Recent Evidence on the Liability Crisis: Abstract

This study examines the liability insurance crisis by analyzing market equity values over the time period 1982-1985. The results are related to claims of consumers concerning causes of the crisis and needed reforms. Hypotheses are developed and tested using the cumulative average residual approach....

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Veröffentlicht in:The Journal of risk and insurance 1988-09, Vol.55 (3), p.499
1. Verfasser: Lacey, Nelson J
Format: Artikel
Sprache:eng
Schlagworte:
Consumers
Earnings
Efficient markets
Equity
Hypotheses
Insurance industry
Insurance policies
Insurance premiums
Interest rates
Investments
Liability insurance
Prices
Profitability
Profits
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Zusammenfassung:This study examines the liability insurance crisis by analyzing market equity values over the time period 1982-1985. The results are related to claims of consumers concerning causes of the crisis and needed reforms. Hypotheses are developed and tested using the cumulative average residual approach. The study finds no direct evidence to support the theory of collusion among property-liability insurance firms. In addition, the study finds that abnormal equity performance is not statistically related to movements in interest rates.
ISSN:0022-4367
1539-6975