The nature and development of the general insurance industry in Australia to 1973
Data(s) |
01/11/2007
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Resumo |
The development of the insurance industry in Australia in the twentieth century was fundamentally shaped by a collusive code of conduct called the tariff. This arrangement, established to overcome problems of uncertainty, initially benefited both tariff and non-tariff firms by enhancing market stability. It also reduced competition. The collusive agreements gradually broke down, however, as new entrants and products entered the market in the 1950s. Self-regulation gradually gave way as the 'rules of the game' changed. The result was a period of instability before new competitive practices, and more direct and specific regulatory requirements emerged in the 1970s.<br /> |
Identificador | |
Idioma(s) |
eng |
Publicador |
Blackwell Publishing Asia |
Relação |
http://dro.deakin.edu.au/eserv/DU:30007233/keneley-natureanddevelopment-2007.pdf http://dx.doi.org/10.1111/j.1467-8446.2007.00212.x |
Direitos |
2007, The Authors |
Palavras-Chave | #Australia #collusive agreements #fire tariffs #general insurance #market regulation |
Tipo |
Journal Article |