Table of Contents

Tables Abbreviations Preface 1. The Insurance Industry The Life Insurance Industry The Property and Casualty Industries Summary 2. A Theory of Government Regulation Economic Theories of Regulation Political Theories of Regulation Summary 3. State and Federal Government Roles in Insurance Regulation Creating an Economic Environment Direct Federal Regulation of Insurance Federal Government Insurance Programs State Regulation of Insurance Summary 4. State Regulation of Insurance: From Free Markets to Cartels to Free Markets Early Regulation of Insurance Twentieth Century Insurance Regulation: The Beginning Regulating Investment Decisions Property and Casualty Insurance: The South-Eastern Underwriters Case The McCarran-Ferguson Act The Growth of Competition A Theoretical Recapitulation 5. The Liability Insurance Crisis of 1985-86 Causes of the Crisis Industry Internal Responses to the Crisis External Demands on the Political System The Opposing Coalition Actions of Public Officials The Legislative Battle Actions of Policyholders Politics at the Federal Level The Results of the Tort Reform Effort Cash Flow During the Liability Crisis A Theoretical Recapitulation 6. Federal Issues in Insurance Regulation Mail Order Insurance The Federal Flood Insurance Program No-Fault Automobile Insurance The Unisex Issue Federal Taxes A Theoretical Recapitulation 7. An Empirical Examination of State Insurance Regulation Industry Potential Consumer Groups Bureaucratic Resources Political Elites Regulatory Stringency Taxing Insurance Companies Regulating Insurance Prices The Impact of Regulation on Price Litigation and the Price of Insurance No-Fault Automobile Insurance Other State Restrictions on Automobile Insurance The Impact of Price on Availability Access to Insurance Conclusion 8. The Political Economy of Insurance Regulation Empirical Findings Policy Recommendations Conclusion Notes Bibliography Index

About the Author

Kenneth J. Meier is Professor of Political Science and Public Affairs at the University of Wisconsin, Madison.