Demographic Factors and Price Distortions in Insurance

Title:
Demographic Factors and Price Distortions in Insurance
Authors:
Cheung, Ron; Cole, Cassandra R.; Macpherson, David A.; McCullough, Kathleen A.; Nyce, Charles
Abstract:
Few papers have analyzed the potential linkages between price distortions and the specific demographic and political traits of customers. The existence of price distortions may have adverse and potentially unintended impacts on certain demographic groups, leading to significant public policy concerns. The current study uses census tract data and rating factors to examine age, income, and race demographics in an effort to determine if any subgroups of the population are adversely impacted by the price distortions of property insurance. The results suggest that Hispanics, lower income households, and specific age groups pay relatively more for insurance coverage than comparison groups.
Citation:
Cheung, Ron, Cassandra R. Cole, David A. Macpherson, et al. 2015. "Demographic Factors and Price Distortions in Insurance." Risk Management and Insurance Review 18(1): 1-28.
Publisher:
Wiley for American Risk and Insurance Association
DATE ISSUED:
2015-03
Department:
Economics
Type:
Article
PUBLISHED VERSION:
10.1111/rmir.12027
Additional Links:
http://doi.wiley.com/10.1111/rmir.12027
PERMANENT LINK:
http://hdl.handle.net/11282/599315

Full metadata record

DC FieldValue Language
dc.contributor.authorCheung, Ronen
dc.contributor.authorCole, Cassandra R.en
dc.contributor.authorMacpherson, David A.en
dc.contributor.authorMcCullough, Kathleen A.en
dc.contributor.authorNyce, Charlesen
dc.date.accessioned2016-02-26T18:33:30Zen
dc.date.available2016-02-26T18:33:30Zen
dc.date.issued2015-03en
dc.identifier.citationCheung, Ron, Cassandra R. Cole, David A. Macpherson, et al. 2015. "Demographic Factors and Price Distortions in Insurance." Risk Management and Insurance Review 18(1): 1-28.en
dc.identifier.issn1098-1616en
dc.identifier.urihttp://hdl.handle.net/11282/599315en
dc.description.abstractFew papers have analyzed the potential linkages between price distortions and the specific demographic and political traits of customers. The existence of price distortions may have adverse and potentially unintended impacts on certain demographic groups, leading to significant public policy concerns. The current study uses census tract data and rating factors to examine age, income, and race demographics in an effort to determine if any subgroups of the population are adversely impacted by the price distortions of property insurance. The results suggest that Hispanics, lower income households, and specific age groups pay relatively more for insurance coverage than comparison groups.en
dc.language.isoen_USen
dc.publisherWiley for American Risk and Insurance Associationen
dc.identifier.doi10.1111/rmir.12027en
dc.relation.urlhttp://doi.wiley.com/10.1111/rmir.12027en
dc.subject.departmentEconomicsen_US
dc.titleDemographic Factors and Price Distortions in Insuranceen_US
dc.typeArticleen
dc.identifier.journalRisk Management and Insurance Reviewen
dc.identifier.volume18en_US
dc.identifier.issue1en_US
dc.identifier.startpage1en_US
dc.rightsArchived with thanks to Risk Management and Insurance Reviewen
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