1. Capitalization of the Property-Liability Insurance Industry: Overview

   • J. David Cummins
   • Neil A. Doherty

   OriginalPaper Pages: 5 - 14

2. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry

   • J. David Cummins
   • Gregory P. Nini

   OriginalPaper Pages: 15 - 53

3. Keeping up with the Joneses: Changing Rating Standards and the Buildup of Capital by U.S. Property-Liability Insurers

   • Neil A. Doherty
   • Richard D. Phillips

   OriginalPaper Pages: 55 - 78

4. The Capital Structure of Firms Subject to Price Regulation: Evidence from the Insurance Industry

   • Robert W. Klein
   • Richard D. Phillips
   • Wenyan Shiu

   OriginalPaper Pages: 79 - 100

5. The Effectiveness of Public and Private Sector Summary Risk Measures in Predicting Insurer Insolvencies

   • Steven W. Pottier
   • David W. Sommer

   OriginalPaper Pages: 101 - 116

6. Ownership Structure and Control: Property-Casualty Insurer Conversion to Stock Charter

   • David Mayers
   • Clifford W. Smith

   OriginalPaper Pages: 117 - 144

7. Capital Structure Decisions in the Insurance Industry: Stocks versus Mutuals

   • Scott E. Harrington
   • Greg Niehaus

   OriginalPaper Pages: 145 - 163