The “Why” of Government Regulation
1.Some economists believe in an efficient
market and would like the role of government
to be making sure that competition can exist.
2.Other economists have less confidence in
the market, and believe that direct intervention
(i.e., regulation) is needed to correct market failures.
Approaches to Government Control
concentrates on maintaining competition.
The principal thrust of antitrust is to
curtail monopoly power.
direct intervention in the decisions of firms,
forcing them to behave in a way that will produce
results as near as possible to those that would
occur in a competitive market.
Economic Theories of Regulation
1.Market Failure Theory
2.Capture Theory 3.Public Choice Theory
Rationale for Regulation of Insurance
1.Vested in the Public Interest Rationale failures
in this field can affect persons other than
those directly involved in the transaction fiduciary
nature of insurance and extensive influence
Senior citizens face special problems in the area of health care costs becausethey often need more extensive care than other members of society, and b...已下载：0次 是否免费：否 上传时间：2021-04-18
Medical expense insurance provides for the payment of the costs of medical care that result from sickness and injury. Covers expenses of physicians, h...已下载：0次 是否免费：否 上传时间：2021-04-17
1.Provides periodic payments to person insured when he or she is unable to work because of injury or illness.2.Coverage may be provided for accidents ...已下载：0次 是否免费：否 上传时间：2021-04-16
1.Retirement risk arises from uncertainty concerning the time of death2.It is influenced by physiological and cultural hazardspeople tend to live long...已下载：0次 是否免费：否 上传时间：2021-04-15
1.Reverse application of the law of large numbers as it is used in life insurance.2.Law of averages permits a lifetime guaranteed income to each annui...已下载：0次 是否免费：否 上传时间：2021-04-14
Three questions in buying life insurance:How much should I buy?What kind should I buy?From which company should I buy it?Buy Term and Invest the Diffe...已下载：0次 是否免费：否 上传时间：2021-04-13