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Insurance - Risky Business: Why Insurance Markets Fail and What to Do About It

Description

Book Synopsis: An engaging and accessible examination of what ails insurance markets—and what to do about it—by three leading economists “The authors . . . do a masterful job of explaining the intractable complexities created by this socially vital activity.”—Martin Wolf, Financial Times, “Best Books of 2022: Economics”

Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services—for instance, a grocer who doesn’t care who buys the store’s broccoli or carrots—insurance providers are more careful in choosing their customers, because some are more expensive than others.

Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we’d be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price. With insurance at the center of divisive debates about privacy, equity, and the appropriate role of government, this book offers clear explanations for some of the critical business and policy issues you’ve often wondered about, as well as for others you haven’t yet considered.

Details

Are you tired of dealing with crummy dental insurance and expensive pet insurance? Have you ever wondered why your auto insurer asks for your credit score? The answers to these questions lie in understanding how insurance markets work. That's where "Risky Business: Why Insurance Markets Fail and What to Do About It" comes in. This engaging and accessible book, written by three leading economists, takes a deep dive into the complexities of insurance markets and offers practical solutions.

Insurance providers are more careful in choosing their customers compared to other goods and services. They want to know as much as possible about us because some customers are more expensive to insure than others. In this book, Liran Einav, Amy Finkelstein, and Ray Fisman unravel the mysteries of insurance markets and explore why insurers go to great lengths to obtain information about us. Should we let them? This book provides valuable insights and helps you make an informed decision.

Ever wondered why insurance entrepreneurs often fail? "Risky Business" offers some helpful tricks that can boost their chances of success. It delves into the challenges faced by insurance entrepreneurs and provides practical strategies that can turn their failures into triumphs. Whether you're an insurance entrepreneur or simply interested in the industry, this book is a must-read.

With ongoing debates about privacy, equity, and the role of government in healthcare, insurance is at the center of attention. "Risky Business" provides clear explanations for some of the critical business and policy issues that you've often wondered about but never quite understood. Should we have government-mandated health insurance? Or should businesses, customers, and markets be the ones deciding who gets coverage and at what cost? This book presents thought-provoking arguments to help you form your own opinion.

Don't miss out on the opportunity to gain a comprehensive understanding of insurance markets and the factors that contribute to their success or failure. Grab your copy of "Risky Business: Why Insurance Markets Fail and What to Do About It" today and be equipped with the knowledge to make informed decisions about insurance. Click here to get your copy now!

Disclosure: I get commissions for purchases made through links in this website