Merging automobile regulatory bodies: The case of Atlantic Canada
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 reviewin...
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Hamburg: Hamburg University, Institute for Risk and Insurance
2003
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ftzbwkiel:oai:econstor.eu:10419/54213 2024-01-28T10:07:19+01:00 Merging automobile regulatory bodies: The case of Atlantic Canada Boyer, M. Martin Schiller, Jörg 2003 http://hdl.handle.net/10419/54213 eng eng Hamburg: Hamburg University, Institute for Risk and Insurance Series: Working Papers on Risk and Insurance No. 11 gbv-ppn:680219692 http://hdl.handle.net/10419/54213 RePEc:zbw:hzvwps:11 http://www.econstor.eu/dspace/Nutzungsbedingungen ddc:330 G22 D82 H21 C72 Insurance Fraud Asymmetric Information Insurance Taxation Public Policy doc-type:workingPaper 2003 ftzbwkiel 2024-01-01T00:44:25Z 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. Report Newfoundland Prince Edward Island EconStor (German National Library of Economics, ZBW) Newfoundland Canada |
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EconStor (German National Library of Economics, ZBW) |
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ftzbwkiel |
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English |
topic |
ddc:330 G22 D82 H21 C72 Insurance Fraud Asymmetric Information Insurance Taxation Public Policy |
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ddc:330 G22 D82 H21 C72 Insurance Fraud Asymmetric Information Insurance Taxation Public Policy Boyer, M. Martin Schiller, Jörg Merging automobile regulatory bodies: The case of Atlantic Canada |
topic_facet |
ddc:330 G22 D82 H21 C72 Insurance Fraud Asymmetric Information Insurance Taxation Public Policy |
description |
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. |
format |
Report |
author |
Boyer, M. Martin Schiller, Jörg |
author_facet |
Boyer, M. Martin Schiller, Jörg |
author_sort |
Boyer, M. Martin |
title |
Merging automobile regulatory bodies: The case of Atlantic Canada |
title_short |
Merging automobile regulatory bodies: The case of Atlantic Canada |
title_full |
Merging automobile regulatory bodies: The case of Atlantic Canada |
title_fullStr |
Merging automobile regulatory bodies: The case of Atlantic Canada |
title_full_unstemmed |
Merging automobile regulatory bodies: The case of Atlantic Canada |
title_sort |
merging automobile regulatory bodies: the case of atlantic canada |
publisher |
Hamburg: Hamburg University, Institute for Risk and Insurance |
publishDate |
2003 |
url |
http://hdl.handle.net/10419/54213 |
geographic |
Newfoundland Canada |
geographic_facet |
Newfoundland Canada |
genre |
Newfoundland Prince Edward Island |
genre_facet |
Newfoundland Prince Edward Island |
op_relation |
Series: Working Papers on Risk and Insurance No. 11 gbv-ppn:680219692 http://hdl.handle.net/10419/54213 RePEc:zbw:hzvwps:11 |
op_rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
_version_ |
1789334877912432640 |