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http://hdl.handle.net/10419/54213
  
Title:Merging automobile regulatory bodies: The case of Atlantic Canada PDF Logo
Authors:Boyer, M. Martin
Schiller, Jörg
Issue Date:2003
Series/Report no.:Working Papers on Risk and Insurance 11
Abstract:The recent automobile liability insurance crisis in Atlantic Canada has prompted the four provincial legislations (Newfoundland and Labrador, New Brunswick, Nova Scotia and Prince Edward Island) to setup a task force to redesign, if necessary, the personal automobile insurance system. After reviewing some of the most interesting new regulatory changes, our paper proposes a new area of discussion: The merger of the four provincial insurance regulatory bodies to combat insurance fraud. We base our paper on the principle that recent premium increases are mainly due to an increase in insurance fraud. We show that merging the regulatory bodies may reduce insurance fraud if the merger allows savings on the average audit cost and on the development of better fraud detection technology. Finally, we suggest a fraud reducing insurance taxation scheme to finance insurance fraud investigations.
Subjects:Insurance Fraud
Asymmetric Information
Insurance Taxation
Public Policy
JEL:G22
D82
H21
C72
Document Type:Working Paper
Appears in Collections:Working Papers on Risk and Insurance, Institut für Versicherungsbetriebslehre, Universität Hamburg

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