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Capturing uncertainty: the role of insurance in the construction of modern life

Anderson, GLP and Clark, G 2007, 'Capturing uncertainty: the role of insurance in the construction of modern life' , Zeitschrift für die Gesamte Versicherungswissenschaft (German Journal of Insurance), 2007 , pp. 129-146.

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Abstract

Traditional accounts of the history of insurance typically treat demand as a function of the availability of new and lower-cost forms of insurance. This paper draws on more recent research to illustrate the dialectical relationship between the demand for and supply of insurance services as the industry developed from the 17th through the 20th centuries. We argue that insurance companies have played a key historical role in creating a market for their products by transforming both popular and official attitudes towards insurance. Over the course of time insurers have been singularly successful in combining a measure of moral exhortation with the effective inculcation of precautionary behavior while at the same time discriminating against risky actions through the imposition of high prices or even the outright denial of insurance coverage. Ultimately these developments have allowed the insurance companies to act as gatekeepers by interposing themselves between the state, the public, and other industries.

Item Type: Article
Themes: Subjects / Themes > H Social Sciences > HJ Public Finance
Subjects outside of the University Themes
Schools: ?? sch_sbs ??
Journal or Publication Title: Zeitschrift für die Gesamte Versicherungswissenschaft (German Journal of Insurance)
Publisher: Springer-Verlag GmbH, Berlin Heidelberg / Verlag Versicherungswirtschaft GmbH, Karlsruhe
Refereed: Yes
ISSN: 00442585
Related URLs:
Depositing User: GL Anderson
Date Deposited: 09 Jun 2009 16:18
Last Modified: 20 Aug 2013 16:57
URI: http://usir.salford.ac.uk/id/eprint/2019

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