In empirical research related to the property-casualty insurance industry, studies commonly focus on either insurers or reinsurers. However, in many cases, the definition used to make the distinction between the two groups is often not clearly defined and/or the definition varies across studies....

This paper compares board determinants of publicly-traded and privately-owned property-liability insurance firms and the impact of the Sarbanes-Oxley Act (SOX) on board structure of those firms. Although regulation imposes severe constraints on board structure of insurance firms, we find strong...