Risk Management and Insurance Review最新文献_第10页

INTEGRATING STUDENTS, FACULTY AND INDUSTRY EXECUTIVES 整合学生、教师和行业高管

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00067.X

S. G. Gustavson, James S. Trieschmann

引用次数: 1

A Theoretical Analysis Of Design Issues In Medical Savings Accounts: The Policy Implications 医疗储蓄账户设计问题的理论分析:政策启示

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00061.X

J. Ambrose, A. Butler

引用次数: 0

THE EFFECT OF STATE TORT REFORMS ON CLAIM FILINGS 州侵权改革对索赔申请的影响

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00060.X

Joan T. Schmit, M. Browne, Han-Duck Lee

引用次数: 10

RELATIVE EFFICIENCIES OF NON-LIFE REINSURANCE MARKETING METHODS 非寿险再保险营销方式的相对效率

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00063.X

James Barrese, Jack M. Nelson

{"title":"RELATIVE EFFICIENCIES OF NON-LIFE REINSURANCE MARKETING METHODS","authors":"James Barrese, Jack M. Nelson","doi":"10.1111/J.1540-6296.1997.TB00063.X","DOIUrl":"https://doi.org/10.1111/J.1540-6296.1997.TB00063.X","url":null,"abstract":": This paper extends the study of the relative cost efficiency of insurance delivery systems from the primary market to the market for non-life reinsurance services. As in the primary market for insurance services there are two predominant methods of marketing reinsurance services: reinsurers who rely on employees, termed direct writers, and those who rely on brokers. \u0000 \u0000 \u0000 \u0000An extensive literature relating to the primary market for non-life insurance consistently indicates that independent agency insurers have a cost disadvantage relative to exclusive agency insurers. This literature also suggests that independent agency insurers may supply superior service but a continuing erosion of the market share of independent agency insurers suggests that the perceived service differential is not valued sufficiently to offset the perceived cost differential. \u0000 \u0000 \u0000 \u0000The authors find evidence that, cet. par., broker supplied reinsurers operate with lower costs than direct reinsurers but we find less convincing evidence of a service differential favoring direct reinsurers. More significantly, we observe that the largest component of the traditional measure of the reinsurer's cost is the commission paid back to the primary insurer: the seemingly lower cost brokers provide a higher net cost product. Yet brokers thrive in the marketplace suggesting the existence of a product differentiated by service or quality. With the important caveat that measures of service are imperfect and data is limited, we find no evidence of a service differential.","PeriodicalId":35338,"journal":{"name":"Risk Management and Insurance Review","volume":"72 1","pages":"51-64"},"PeriodicalIF":0.0,"publicationDate":"2009-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85925296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

MODELING IMPERFECT KNOWLEDGE IN RISK MANAGEMENT AND INSURANCE 对风险管理和保险方面不完善的知识进行建模

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00066.X

M. Jablonowski

引用次数: 3

ISSUES IN INSURANCE AND RISK MANAGEMENT EDUCATION 保险和风险管理教育中的问题

Risk Management and Insurance Review Pub Date : 2009-04-27 DOI: 10.1111/J.1540-6296.1997.TB00068.X

S. Cassidy

引用次数: 0

Sustainability Risk Management 可持续发展风险管理

Risk Management and Insurance Review Pub Date : 2009-03-01 DOI: 10.1111/J.1540-6296.2009.01152.X

Dan R. Anderson, K. Anderson

{"title":"Sustainability Risk Management","authors":"Dan R. Anderson, K. Anderson","doi":"10.1111/J.1540-6296.2009.01152.X","DOIUrl":"https://doi.org/10.1111/J.1540-6296.2009.01152.X","url":null,"abstract":"This article features a panel discussion on sustainability risk management organized by Dan R. Anderson for the American Risk and Insurance Association 2007 annual meeting. The moderator, Mr. Dan Anderson, is the Leslie P. Schulz Professor of Risk Management and Insurance at the University of Wisconsin-Madison School of Business and author of Corporate Survival: The Critical Importance of Sustainability Risk Management. Anderson is a past president of the American Risk and Insurance Association (ARIA) and the 2007 winner of the Geneva Association/International Insurance Society Research Award, including a $10,000 stipend, for his paper, \"Sustainability Risk Management as a Critical Component of Enterprise Risk Management (ERM): Global Warrning-Climate Change Risks.\" He also was recently presented with the Risk Innovator Award by Risk and Insurance magazine for his work in sustainability risk management. The next panelist is Kenneth E. Anderson, Director of Aon's Environmental Services Group. Mr. Kenn Anderson is a graduate of the University of Wisconsin's Risk and Insurance Management program and has spent the last 20 years advising organizations about their exposure to environmental risk and designing, negotiating and implementing appropriate environmental insurance programs to meet specific client needs. He will emphasize business opportunities associated with sustainability risk management and the availability of insurance coverage for sustainability risks. Dan R. Anderson: Sustainability risk is a newly emerging risk area and, I believe, one of the critical risk areas of the 21st century. During this discussion I will introduce the general area of sustainability risk management and talk about the identification/ assessment function. I have been thinking about sustainability risks probably for my entire career, but especially during the last 10 years. Sustainability risk management is concerned with environmental and social responsibility risks. That is, corporations are being pressured to address their environmental and social responsibility performance, in addition to the traditional bottom line. I have long tried to make a business argument for companies to become more sustainable by using risk management principles. There are several informed authors who have written exceUent books on sustainabiUty, but no one has really approached it from a risk management framework or recognized that it needs to be approached in this manner. Further, sustainabiUty risk management needs to be a critical part of enterprise risk management (ERM). Table 1 contains a list of companies that are financiaUy successful and have strong sustainability records. Of course, this Ust is not meant to be an exclusive one. Improving environmental conditions inside the company and improving the social conditions of workers used to be thought of as a social cost. Now, the argument can be made that the firm will buUd a better reputation, enhance financial performance and imp","PeriodicalId":35338,"journal":{"name":"Risk Management and Insurance Review","volume":"115 1","pages":"25-38"},"PeriodicalIF":0.0,"publicationDate":"2009-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76871790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 79

What I Learned As a Regulator 我作为监管者学到的东西

Risk Management and Insurance Review Pub Date : 2009-03-01 DOI: 10.1111/J.1540-6296.2009.01150.X

Therese M. Vaughan

{"title":"What I Learned As a Regulator","authors":"Therese M. Vaughan","doi":"10.1111/J.1540-6296.2009.01150.X","DOIUrl":"https://doi.org/10.1111/J.1540-6296.2009.01150.X","url":null,"abstract":"I have thought a great deal during the past year about this address, mostly trying to figure a way out of doing it. I once had an elected commissioner tell me that it was far more difficult to run for office among your peers (say, for office in the legislature) than to seek votes from the general population. I suspect the same comparison applies to giving a Presidential Address. I'm going to ask your permission to deviate from tradition in a couple of ways. First, you will note that I don't have any cartoons, pictures, graphs, or charts. I have no bullet points. In fact, I'm not using PowerPoint at all. Instead, I just want to talk to you, and I hope you will humor me in that request. Second, I have given much thought to what I would talk to you about. I did the obligatory reading of the prior presidential addresses looking for ideas, but no luck. Mary Weiss suggested at one point that I talk about regulation, given that I spent over 10 years doing that, and it was not that long ago. I have taken that suggestion to heart. So I'm not going to talk about the traditional topics of the history or future of American Risk and Insurance Association (ARIA) or of our discipline. I'm also not going to try to give a scholarly address on regulation, or to talk to you about federal versus state regulation. Instead, I just want to share with you some of my experiences as commissioner, what I learned from the job, and some of my thoughts after returning to academics. I want to start by telling you how I got into the position of insurance commissioner. This is a story I have told before, and I know some of you have already heard it. I apologize to those of you, but I enjoy telling it, so I'm going to do it again. In May 1994, I was on the faculty at Drake University in Des Moines. The then-Iowa insurance commissioner-Dave Lyons-resigned suddenly at this time to take the job of director of economic development. I had come to know several regulators over the years-particularly financial regulators-because of some educational work I had done for them. One of them called me to suggest I consider applying for the position. My initial reaction was to dismiss the idea. But the seed had been planted, and I went home and started to think about it. I called my father-Emmett Vaughan-who was a longtime professor of insurance at the University of Iowa, to get his advice. By the way, Karyn, who just received the Hedges Award, is the first Vaughan Scholar at the University of Iowa, and I couldn't be more pleased. My dad said he thought the idea was insane. I was an academic, not a politician. As I recall, he said I'd get eaten alive, or something like that. These were probably the words of a father trying to protect his daughter. Anyway, we talked about it for quite a while. I gave him all of the reasons I was interested in doing this-most notably that I could gain an understanding of how things really worked from the inside. Finally, he said he could see why I might be intere","PeriodicalId":35338,"journal":{"name":"Risk Management and Insurance Review","volume":"457 1","pages":"1-9"},"PeriodicalIF":0.0,"publicationDate":"2009-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77519839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market 金融风险的中介:巨灾再保险市场的演变

Risk Management and Insurance Review Pub Date : 2008-09-01 DOI: 10.1111/J.1540-6296.2008.00141.X

Kenneth A. Froot

{"title":"The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market","authors":"Kenneth A. Froot","doi":"10.1111/J.1540-6296.2008.00141.X","DOIUrl":"https://doi.org/10.1111/J.1540-6296.2008.00141.X","url":null,"abstract":"Yet, in spite of these problems, the reinsurance market continues on. It doesn’t appear to have been extinguished or even hindered by the unwillingness of insurers to cede their risks. Nevertheless, insurers rightly wish to know why it should be so expensive and rare to find reinsurers who are willing to take on extreme catastrophic risks. After all, natural perils are both objectively modelable and unsystematic in their occurrences–qualities that, if anything, should make it relatively more attractive to supply reinsurance capital. Most recently, in the aftermath of Hurricane Katrina, the market has continued to show signs of trouble in providing capital cheaply and quickly. Why, with all the last decade’s improvements in financial intermediation and risk sharing, aren’t things easier? At times of excess demand, one would think there is an opportunity to add to reinsurance supply. A badly needed product that sells at prices well above the cost of production should be supplied aggressively. This conundrum of short supply combined with high prices makes the topic of financing catastrophes a fertile one for academics and practitioners alike. In this article, I provide evidence concerning the imperfections in the reinsurance market. I try to get at some of the root causes of these imperfections—e.g., the behavior of ratings firms and the agency problems associated with the corporate form of ownership. I also summarize the recent evolution of intermediation for catastrophic risk. A simple framework for an integrated theory of optimal financial policy for insurers and reinsurers is discussed. Finally, policy implications for intermediation of financial risks in view of evolving financial solutions for catastrophic risk are proposed.","PeriodicalId":35338,"journal":{"name":"Risk Management and Insurance Review","volume":"76 1","pages":"281-294"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76113494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 33

CATASTROPHE MANAGEMENT IN A CHANGING WORLD: THE CASE OF HURRICANES 变化世界中的灾难管理:以飓风为例

Risk Management and Insurance Review Pub Date : 2008-09-01 DOI: 10.1111/J.1540-6296.2008.00140.X

R. Derrig, J. Fishman, Martin Grace, Joan T. Schmit

{"title":"CATASTROPHE MANAGEMENT IN A CHANGING WORLD: THE CASE OF HURRICANES","authors":"R. Derrig, J. Fishman, Martin Grace, Joan T. Schmit","doi":"10.1111/J.1540-6296.2008.00140.X","DOIUrl":"https://doi.org/10.1111/J.1540-6296.2008.00140.X","url":null,"abstract":"This article features a presentation and discussant comments on hurricane and wind insurance organized by Richard A. Derrig for the American Risk and Insurance Association (ARIA) 2007 Annual Meeting in Quebec City, Quebec, Canada. The moderator, Richard A. Derrig, is President of OPAL Consulting LLC, Providence, RI. Richard formed OPAL after retiring in 2004 from the Auto Insurers and Insurance Fraud Bureaus of Massachusetts. He has published numerous articles on auto insurance, fraud, and other important insurance issues in risk and insurance and actuarial journals. The principal presenter is Jay S. Fishman, Chairman and Chief Executive Officer of The Travelers Companies, Inc., a Fortune 100 company with assets in excess of $100 billion and revenues in excess of $25 billion. Travelers offers a wide range of property and casualty insurance products and services to businesses, organizations, and individuals in the United States and selected international markets. Mr. Fishman was named President and Chief Executive Officer of Travelers in 1998 and Chairman in 2000. From early 2000 until October 2001, he also served as Chief Operating Officer of Finance and Risk for Citigroup, as head of Citigroup's global insurance businesses and head of its consumer business in Japan and Western Europe. Mr. Fishman is an alumnus of the University of Pennsylvania, having graduated with a bachelor's degree in economics, magna cum laude, in 1974 and with a master's degree in accounting from the Wharton School, also in 1974. At the University of Pennsylvania, he is a member of the Board of Trustees, the Board of Overseers of the Graduate School of Education, and the Industry Advisory Board of the Financial Institutions Center for the Wharton School. He serves on the Board of Directors of the National Academy Foundation. Also, he is an active member of the Business Council, a Vice Chairman of the Kennedy Center Corporate Fund Board in Washington, D.C., and a past Chairman of the American Insurance Association. Our two discussants are Professors Joan Schmit and Martin Grace. Joan holds the American Family Insurance Chair in Risk Management and Insurance at the University of Wisconsin-Madison, where she has been on the faculty since 1988. Currently, she is Chair of the Actuarial Science, Risk Management, and Insurance Department in the School of Business. She also holds a visiting appointment with the University of St. Gallen. Dr. Schmit has been active in several important professional associations. She has been an academic moderator for the International Insurance Society and on the Research Committee of that organization. She is a past President of ARIA, the Insurance Society, and the Risk Theory Society. She has served on the board of the Griffith Foundation and is a Research Fellow at the China Center for Insurance and Social security Research at Peking University. The second discussant, Professor Grace, is currently the Associate Director of Research at the Center ","PeriodicalId":35338,"journal":{"name":"Risk Management and Insurance Review","volume":"36 1","pages":"269-280"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73340899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7