Abstract

http://ssrn.com/abstract=669216
 
 

References (27)



 
 

Citations (18)



 


 



Damages Caps, Insurability, and the Performance of Medical Malpractice Insurance


W. Kip Viscusi


Vanderbilt University - Law School; National Bureau of Economic Research (NBER); Vanderbilt University - Department of Economics; Vanderbilt University - Owen Graduate School of Management; Vanderbilt University - Strategy and Business Economics

Patricia Born


Florida State University - College of Business; Florida State University - College of Law; California State University, Northridge - Department of Finance, Real Estate, & Insurance


Journal of Risk and Insurance, Vol. 72, No. 1, pp. 23-43, March 2005

Abstract:     
This article uses the complete property-casualty insurance files of the National Association of Insurance Commissioners from 1984 to 1991 to assess the effect of medical malpractice reforms pertaining to damages levels and the degree to which these damages are insurable. Limits on noneconomic damages were most influential in affecting insurance market outcomes. Several punitive damages variables specifically affected the medical malpractice insurance market, including limits on punitive damage levels, prohibitions of the insurability of punitive damages, and prohibition of punitive damages awards. Estimates for insurance losses, premiums, and loss ratios indicate effects of reform in the expected directions, where the greatest constraining effects were for losses. The quantile regression analysis of losses indicates that punitive damages reforms and limits were most consequential for firms at the high end of the loss spectrum. Tort reforms also enhanced insurer profitability during this time period.

Number of Pages in PDF File: 21

Accepted Paper Series


Date posted: February 19, 2005  

Suggested Citation

Viscusi, W. Kip and Born, Patricia, Damages Caps, Insurability, and the Performance of Medical Malpractice Insurance. Journal of Risk and Insurance, Vol. 72, No. 1, pp. 23-43, March 2005. Available at SSRN: http://ssrn.com/abstract=669216

Contact Information

W. Kip Viscusi (Contact Author)
Vanderbilt University - Law School ( email )
131 21st Avenue South
Nashville, TN 37203-1181
United States
615-343-7715 (Phone)
615-322-5953 (Fax)
HOME PAGE: http://law.vanderbilt.edu/faculty/viscusi.htm
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Vanderbilt University - Department of Economics
Box 1819 Station B
Nashville, TN 37235
United States
(615) 343-7715 (Phone)
(615) 343-5953 (Fax)
HOME PAGE: http://law.vanderbilt.edu/faculty/viscusi.htm
Vanderbilt University - Owen Graduate School of Management
401 21st Avenue South
Nashville, TN 37203
United States
(615) 343-7715 (Phone)
(615) 343-5953 (Fax)
HOME PAGE: http://law.vanderbilt.edu/faculty/viscusi.htm
Vanderbilt University - Strategy and Business Economics ( email )
Nashville, TN 37203
United States

Patricia H. Born
Florida State University - College of Business ( email )
250 Rovetta Business Building
Tallahassee, FL 32306-1110
United States
Florida State University - College of Law
425 W. Jefferson Street
Tallahassee, FL 32306
United States
California State University, Northridge - Department of Finance, Real Estate, & Insurance ( email )
Northridge, CA 91330-8379
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,502
Downloads: 18
References:  27
Citations:  18

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo4 in 0.329 seconds