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Wednesday, August 4 • 9:00am - 10:30am
6E3 Economic Transition and Insurance Market Development: Evidence from Post-Communist European Countries

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Doug Bujakowski, Drake University; Patty Born, Florida State University

We evaluate the development of insurance markets in 18 post-communist European countries over a 10-year period. In doing so, we estimate static and dynamic models to test the relationship between economic transition indices and insurance density and penetration. Results suggest that licensing and trade practices, monetary stability, consumer protections, and government transfers are relevant to property-casualty and life-health insurance consumption. The findings have implications for policymakers aiming to increase insurance coverage in post-communist countries. Additionally, the research underscores the importance of accounting for economic policies and institutions in studies of insurance market development.

avatar for Rob Hoyt

Rob Hoyt

Moore Chair and Department Head, University of Georgia
Robert E. Hoyt is the Dudley L. Moore, Jr. Chair and Professor of Risk Management and Insurance in the Terry College of Business at the University of Georgia. He teaches corporate risk management and enterprise risk management and has served as the Department Head for Insurance, Legal... Read More →


Doug Bujakowski

Drake University
avatar for Patty Born

Patty Born

Florida State University
Dr. Patricia Born is the Midyette Eminent Scholar in Risk Management and Insurance in the Department of Risk Management/Insurance, Real Estate and Legal Studies at Florida State University’s College of Business. She also serves as advisor of the Risk Management and Insurance doctoral... Read More →

Wednesday August 4, 2021 9:00am - 10:30am EDT

Attendees (6)