Abstract
The prices of economic goods result from the meeting of supply and demand in a market. The objective of this chapter is to point out some fundamental aspects of pricing policy from an insurance company’s point of view. Following some remarks on price and product in the insurance sector, and a distinction between calculation and pricing policy, a short description of the components of the insurance premium is given. A discussion of the influence of market structure and competition on pricing concludes this chapter.
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References
Cummins, J.D., B.D. Smith, R.N. Vance and J.C. VanDerhei (1983) Risk Classification in Life Insurance (Hingham, MA: Kluwer-Nijhoff Publishing).
Finsinger, J., E. Hammond and J. Tapp (1985) Insurance: Competition or Regulation? (London: Institute for Fiscal Studies) Report Series No. 19.
Pritchett, S.T. and R.P. Wilder (1986) Stock Life Insurance Company Profitability and Workable Competition, Huebner Foundation Monograph No. 14.
Rothschild, M. and J.E. Stiglitz (1976) ‘Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Competition’, Quarterly Journal of Economics 90, pp. 629–49.
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© 1990 Stephen Diacon
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Karten, W. (1990). Competitive Behaviour and Pricing Policy. In: Diacon, S. (eds) A Guide to Insurance Management. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07495-2_12
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DOI: https://doi.org/10.1007/978-1-349-07495-2_12
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-07497-6
Online ISBN: 978-1-349-07495-2
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