Abstract
Important public policy implications derive from the question of whether or not there are returns to scale in the property-liability insurance industry. This study employs methodological and data management techniques designed to explore the question more reliably. These are the use of a large sample capturing over 90 percent of industry premiums, the classification of insurers according to four marketing systems rather than two, and the acknowledgement of corporate relationship among insurers in the form of groups. Findings are at variance with those of prior studies in indicating the existence of returns to scale.
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