000			02198cam a22003377 4500
001			w5246
003			NBER
005			20211020114229.0
006			m o d
007			cr cnu||||||||
008			210910s1995 mau fo 000 0 eng d
100	1		_aBorn, Patricia. _96612
245	1	0	_aOrganizational Form and Insurance Company Performance: _bStocks versus Mutuals / _cPatricia Born, William M. Gentry, W. Kip Viscusi, Richard J. Zeckhauser.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1995.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w5246
500			_aSeptember 1995.
520	3		_aOne unusual feature of the U.S. property-casualty insurance industry is the coexistence of stock and mutual companies. This paper explores the performance of these forms in the industry through a dynamic assessment of how mutual and stock insurance companies respond to differences in their underwriting environment. Agency theories suggest that the stock company may be more 'opportunistic' and less obligated to their insureds than mutuals. This article assesses the responses by stock and mutual firms to changes in the underwriting environment from 1984 to 1991, using measures of individual firms' performance, by state and by line, in eight different lines of insurance. Stock companies are more likely than mutuals to reduce their business in unprofitable situations, and have higher losses than mutuals for a given amount of premiums.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
700	1		_aGentry, William M. _911252
700	1		_aViscusi, W. Kip. _922450
700	1		_aZeckhauser, Richard J. _923263
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w5246.
856	4	0	_uhttps://www.nber.org/papers/w5246
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w5246
942			_2ddc _cW-PAPER
999			_c343106 _d301668