Organizational Forms in Insurance: A Comparison of the USA and Germany during Industrialization

Pearson, Robin

Abstract

This chapter offers the first historical comparison of organizational choice in two of the world’s leading insurance nations, the United States and Germany, as they industrialized before 1914. It provides an overview of the context in which insurance developed in both countries. It describes this development, outlines the organizational trends in the industry, and examines the factors behind these trends. These factors include agency and governance issues, the state of capital markets, inherited cultural and social norms, the intervention of regulators and legislators, the impact of state insurance schemes, and the changing character of risk and the challenge of insuring new and uncertain technologies.

Citation

Pearson, R. (2015). Organizational Forms in Insurance: A Comparison of the USA and Germany during Industrialization. In R. Pearson, & T. Yoneyama (Eds.), Corporate Forms and Organisational Choice in International Insurance (114-145). Oxford University Press. https://doi.org/10.1093/acprof%3Aoso/9780198739005.003.0006

• Online Publication Date: Nov 1, 2015
• Publication Date: Nov 12, 2015
• Deposit Date: Apr 1, 2022
• Publisher: Oxford University Press
• Pages: 114-145
• Book Title: Corporate Forms and Organisational Choice in International Insurance
• Chapter Number: 6
• ISBN: 9780198739005
• DOI: https://doi.org/10.1093/acprof%3Aoso/9780198739005.003.0006
• Keywords: State insurance; Mutual insurance; Stock corporations; Insurance regulation; Risk; Germany; USA
• Public URL: https://hull-repository.worktribe.com/output/1099325
• Contract Date: Oct 1, 2014