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Is the Market Classification of Risk Always Efficient? - Evidence from German Third Party Motor Insurance

  • This paper studies the empirical effect of risk classification in the mandatory third-party motor insurance (TPMI) of Germany. We find evidence that inefficient risk categories had been selected in this market while potentially efficient information may have been dismissed. Risk classification did generally not improve the efficiency of contracting or the composition of insureds in this market. These findings can be partly explained by the existence of compulsory fixed coverage and other institutional restraints such as unitary owner insurance in this market.

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Author:Thomas WeinGND, Reimund Schwarze
URL: https://pub-data.leuphana.de/frontdoor/index/index/docId/368
Document Type:Report
Year of Completion:2005
Date of Publication (online):2005/09/16
Release Date:2005/09/16
GND Keyword:Versicherung; Kraftfahrtversicherung; Risikoanalyse
Institutes:Universität / Frühere Fachbereiche
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft