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| Author: | Gron, A. |
| Title: | Compensation and industry profitability: evidence from the property casuality insurance industry |
| Journal: | Journal of Business
1998 : JUL, VOL. 71:3, p. 407-438 |
| Index terms: | COMPENSATION PROFITABILITY INSURANCE |
| Language: | eng |
| Abstract: | This article provides an empirical investigation of a multiple principal-multiple agent relationship under changing industry conditions. Using 34 years of biannual data, it investigates the relationship between property- casualty insurers and agents representing multiple insurers. Several facts emerge. Average commission rates and the number of insurers represented are lower when insurers have higher profitability. Agency income is not systematically related to insurer profitability. |
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