TITLE
"The Effect of Three Mile Island on Stock Return in the Property
and Liability Insurance Industry," Journal
of Insurance Issues, Davidson, Wallace N., III
and John H. Thornton, 1985, Vol. VIII, No. 2: 17-31.
ABSTRACT
On March 28, 1979, a combination of mechanical and operator errors
caused the core at the Three Mile Island nuclear power plant to
overheat. Using event methodology, this paper examines the effect
of this incident on shareholder wealth of a sample of property
and liability insurers who were members of the American Nuclear
Insurers group at the time of the accident. No significant negative
impact on shareholder wealth of the insuring firms was found.
Probably reasons for this finding are discussed.
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