Brookings-Wharton Papers on Financial Services 2004

The seventh in a series of annual volumes on the financial sector from the Brookings Institution and the Wharton School at the University of Pennsylvania focuses on public policy issues confronting the insurance industry.Contents iinclude:Editors' SummaryExtending the Theory to Meet the Practice of InsuranceDavid M. Cutler and Richard Zeckhauser The Crisis in Medical Malpractice InsurancePatricia M. Danzon, Andrew J. Epstein and Scott J. JohnsonTort Liability, Insurance Rates, and the Insurance CycleScott E. HarringtonInsuring agains Terrorism: The Policy ChallengeKent SmettersBrokers and the Insurance of Non-Verifiable LossesNeil A. Doherty and Alexander MuermannConsolidation in the European Insurance Industry: Do Mergers and Acquisitions Create Value for Shareholders?J. David Cummins and Mary A. WeissCoping with International Regulatory Complexity in the Insurance IndustryErnie Patrikis (AIG), Terri Vaughan (IID), and Brant Free (Chubb)

Robert E. Litan is a senior fellow in Economic Studies at Brookings and vice president for research and policy at the Kauffman Foundation. Richard Herring is director of the Joseph H. Lauder Institute of Management and International Studies and codirector of the Wharton Financial Institutions Center at the University of Pennsylvania.