Research on the Impact of Elevator Liability Insurance on Elevator Public Safety Management ——An Empirical Study Based on The Difference-in-Differences Model
Research on the Impact of Elevator Liability Insurance on Elevator Public Safety Management ——An Empirical Study Based on The Difference-in-Differences Model
DING Rijia, TIAN Zheng
School of Management, China University of Mining & Technology (Beijing), Beijing 100083, China
Abstract Elevator liability insurance is an important starting point for elevator safety management. Based on the panel data on elevator accident rates, liability insurance premiums, and payment amounts for 31 provinces (municipalities, autonomous regions) in China from 2010 to 2018, this paper conducts statistical analysis on the impact of elevator liability insurance on the incidence of elevator safety accidents and the rate of liability insurance compensation using the difference-in-differences model since the launch of the insurance pilot zone. The study found that the implementation of elevator liability insurance has no statistically significant impact on the incidence of elevator safety accidents; the market supervision mechanism based on the inability of insurance companies to exert their industry advantages such as “information collection, contract design, and actuarial technology” will be accompanied by problems of corporate moral hazard. But the practical significance of the research in this article shows that the elevator liability insurance has the professional advantages of pre-risk prevention, in-risk risk control and after-sales compensation services in public safety. The healthy development of elevator liability insurance needs to increase its popularity and coverage under the guidance of public safety management departments; meanwhile, it requires insurance companies to actively participate in the pilot, expand the scale of underwriting, accumulate experience data, and improve the responsibility division and pricing mechanism of elevator liability insurance.
DING Rijia,TIAN Zheng. Research on the Impact of Elevator Liability Insurance on Elevator Public Safety Management ——An Empirical Study Based on The Difference-in-Differences Model. Economic Survey, 2020, 37(5): 0169.
2020, Vol. 37 
