This study provides evidence of the positive impact of relaxing stringent rate regulations in the automobile insurance markets of South Carolina (reformed in 1999), New Jersey (reformed in 2003), and Massachusetts (reformed in 2008). Estimates show that rate reforms have led to a number of positive developments in these markets without leading to increases in insurance prices or reductions in insurance availability. Overall, the regulatory reforms in these states have improved the performance of the insurance market for both consumers and insurers.
