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- Title
FIRE INSURANCE RATES: PROBLEMS OF COOPERATION, CLASSIFICATION, REGULATION.
- Authors
Reigel, Robert
- Abstract
The article examines the problems of cooperation, classification, and regulation of fire insurance rates in the U.S. Among the factors that complicate the solution to fire insurance rates are the technical difficulties of estimating fire hazard, the diversity of risks, and the almost inevitable destruction of the evidence of the cause of loss. The modern development of every business has given rise to a price-fixing system, and this may be stimulated, modified and controlled by various factors such as competition, the principle of what the traffic will bear, possibility of substitution, cost, monopoly value. Owing to the long recognized mutual character of insurance, cost is admitted to be the basis of rates.
- Subjects
UNITED States; FIRE insurance rates; DISASTER insurance; PROPERTY insurance; FIRE insurance policies; LIGHTNING insurance; EXPLOSION insurance; PRICE fixing; COMPETITION; COST; MONOPOLIES; VALUE (Economics)
- Publication
Quarterly Journal of Economics, 1916, Vol 30, Issue 4, p704
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884240