William L. Ferguson

Do strategic groups differ in reputation

While most strategic group research has focused on performance implications, we consider the relationship between strategic group membership and reputation. Using strategic group identity and domain consensus concepts, we propose strategic groups have different reputations. We find significant differences exist in reputation across three identified strategic groups of U.S. property/casualty insurers, supporting our contention that reputation is a multilevel concept. Post hoc analyses suggest strategic groups with higher reputation also have higher performance on some critical measures, indicating reputation may be a mobility barrier beneficial to members of certain groups. Practitioner implications include challenges of within-group differentiation in firm reputation. Copyright

Experience from Early Tort Reforms: Comparative Negligence Since 1974.

Insurance consumers in states that have adopted comparative negligence pay more for automobile liability insurance than do consumers in states that retain contributory negligence. Through the use of a transformed generalized least squares regression model, allowance is made for: no-fault, population density, state-specific price-level, and automobile safety/fatality differences. States with pure comparative have much higher costs than do states with modified comparative negligence; states with modified comparative have higher costs than those with contributory negligence. The influence of alternative liability rules on the cost of insurance is of public concern. In recent years many states have changed from contributory negligence to either pure or modified comparative negligence. This article examines the cost of automobile insurance under three liability rules. The authors conclude that states with either type of comparative negligence have higher automobile insurance costs.

Internationalization in the Reinsurance Industry: An Analysis of the Net Financial Position of U.S. Reinsurers

In todays global marketplace, the extent of internationalization has become increasingly relevant. We use the framework of the eclectic paradigm to empirically investigate internationalization by U.S. reinsurers using the net financial position in foreign markets to proxy for the level of internationalization. Our sample includes both developed and developing nations to provide a more complete analysis of internationalization of U.S. reinsurers. We find that the factors related to reinsurers’ net financial positions vary based on the characteristics of the countries, the reinsurers, and the industry.

International Examinations of Medical-Legal Aspects of Work Injuries

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Internationalization of the Reinsurance Industry: An Analysis of the Net Exposure of Reinsurers

In today’s global marketplace, the internationalization decision has become increasingly relevant for a greater number of firms. We use the framework of the eclectic paradigm to empirically investigate the decision of U.S. reinsurers to internationalize based on their net exposure in both developed and developing nations. The reinsurance industry poses an interesting setting to study internationalization as we can measure the net exposure in a county given the requirements to report both ceded and assumed reinsurance. This allows for a better measure of the overall exposure reinsurers have in a given country. Of particular interest in exploring internationalization are the diversification benefits as well as the potential impact of free-trade initiatives and the economic development of the host country. We find that the characteristics impacting net reinsurance exposure vary based on the characteristics of the countries.