Rethinking Consumer Protection Regulation in Insurance Markets

Networks Financial Institute 2010-PB-07

Posted: 14 Sep 2010

See all articles by Sharon L. Tennyson

Sharon L. Tennyson

Cornell University - Department of Policy Analysis & Management (PAM)

Date Written: September 2010

Abstract

This paper examines consumer protection regulation in insurance markets and discusses how regulation could be made more efficient and robust. The paper argues that regulatory costs could be lowered and effectiveness enhanced by better targeting regulations to address market failures. Regulations should also recognize and attempt to harness the private incentives of market participants to encourage behaviors that are consistent with regulatory objectives. Applying theoretical and empirical insights from academic research and the experiences of other jurisdictions, specific approaches that make use of these principles are discussed.

Keywords: Consumer Protection, Insurance

JEL Classification: G22, G28, D18

Suggested Citation

Tennyson, Sharon L., Rethinking Consumer Protection Regulation in Insurance Markets (September 2010). Networks Financial Institute 2010-PB-07, Available at SSRN: https://ssrn.com/abstract=1676418 or http://dx.doi.org/10.2139/ssrn.1676418

Sharon L. Tennyson (Contact Author)

Cornell University - Department of Policy Analysis & Management (PAM) ( email )

252 MVR Hall
Ithaca, NY 14853
United States
607-255-2619 (Phone)
607-255-4071 (Fax)

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