The General-Liability Reform Experiments and the Distribution of Insurance-Market Outcomes
一般责任法律改革与保险市场结果的分布
Many states enacted tort liability reform laws in the late 1980s to limit liability costs and stabilize insurance markets. This paper uses firm-level data from two states that enacted reforms over the 1984-91 period--New York and Colorado--to assess their effects. The liability insurance performance in Pennsylvania and Kentucky--two states that did not adopt reforms--provides a reference point for how insurance markets might have performed. The quantile regression models…