author={Mark J. Browne and Jaewook Chung and Edward W. Frees},
  journal={Journal of Risk and Insurance},
ABSTRACT During the 1980s and early 1990s, the world insurance market grew substantially. World insurance premiums in 1993 accounted for about 8 percent of world gross domestic product (GDP), compared to 4 percent in 1984. This article explains a substantial proportion of the variation in property-liability insurance consumption across countries belonging to the Organization for Economic Cooperation and Development (OECD). The study focuses on two lines of insurance: motor vehicle and general… Expand

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