重置成本保險與道德危險──台灣汽車竊盜損失險實證分析

REPLACEMENT COST INSURANCE AND MORAL HAZARD: EMPIRICAL EVIDENCE OF AUTOMOBILE THEFT INSURANCE IN TAIWAN

本文透過台灣汽車保險市場重置成本保單與實際現金價值保單的理賠分析，驗證重置成本保單的保障是否會誘發道德危險。研究發現重置成本保單在保單到期前最後一個月的失竊率顯著高於實際現金價值保單，確認重置成本的保障確實會誘發道德危險。另一方面，若干被保險汽車的特徵與投保人特徵可能是引發道德危險的根源，透過迴歸分析的實證發現，國產車、70-79.9萬元的被保險汽車、前二年的新車、18-29歲的年輕族群存在較嚴重的道德危險問題。然而，透過有效的核保政策可望達到控制汽車竊盜損失險在重置成本保障下誘發的道德危險。

Based on claim analysis of the replacement cost policy and the actual cash value policy in the automobile insurance market, this paper examines whether the protection of the replacement cost policy can induce moral hazard. The results show that the loss theft rate is higher one month before the replacement cost policy expires than that of the actual cash value policy. We confirm that the protection for the replacement cost will result in moral hazard. In addition, some characteristics of the insured car and policyholder may be the root cause of moral hazard. According to empirical findings based on regression analysis, there may be a moral hazard with policyholders for domestic cars, insured cars of 700 to 799 thousand NT dollars, the first two years of new cars, and younger policyholders from 18 to 29 years old. However, an effective underwriting policy can be adopted to control the moral hazard induced from protection for the replacement cost of automobile theft insurance.