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Full-Text Articles in Insurance

Time Series Analysis: Forecasting Treasury Bill Interest Rates, Nadine P. Innes May 2019

Time Series Analysis: Forecasting Treasury Bill Interest Rates, Nadine P. Innes

Honors College Theses

A Treasury Bill is a short-term investment typically with a maturity date of 12 months or less that is backed by the Treasury Department of the United States government. Rates of return for Treasury Bills are constantly changing over time due to the constant change of demand from borrowers and supply from lenders. This study seeks to forecast treasury bill rates that mature in 3 months. Since actuaries employ their knowledge of mathematics and statistical methods to analyze the likelihood of future events and their possible financial repercussions, having a projection of future treasury bill rates can provide guidance to ...


Improving Vix Futures Forecasts Using Machine Learning Methods, James Hosker, Slobodan Djurdjevic, Hieu Nguyen, Robert Slater Jan 2019

Improving Vix Futures Forecasts Using Machine Learning Methods, James Hosker, Slobodan Djurdjevic, Hieu Nguyen, Robert Slater

SMU Data Science Review

The problem of forecasting market volatility is a difficult task for most fund managers. Volatility forecasts are used for risk management, alpha (risk) trading, and the reduction of trading friction. Improving the forecasts of future market volatility assists fund managers in adding or reducing risk in their portfolios as well as in increasing hedges to protect their portfolios in anticipation of a market sell-off event. Our analysis compares three existing financial models that forecast future market volatility using the Chicago Board Options Exchange Volatility Index (VIX) to six machine/deep learning supervised regression methods. This analysis determines which models provide ...


Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula Sep 2018

Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula

MBA Faculty Conference Papers & Journal Articles

With the vast array of resources available to instructors, one would think that instruction and teaching would yield success for all learners. Now, well into the 21st century has much changed in the classroom? Certainly, movable desks and chairs, advanced audio and visual equipment, and a plethora of all types of technologies which might be able to enhance training and education. Over the last several decades research on individualized instruction, cognitive science, educational psychology, and multimedia instruction (to name a few) have permeated the literature on instruction. With all the research and the vast array of studies on improving ...


Glossary Of Business Evidence, Paul C. Boyd Apr 2018

Glossary Of Business Evidence, Paul C. Boyd

MBA Faculty Conference Papers & Journal Articles

No abstract provided.


Out-Of-Pocket Cost For Individuals Being Treated For Opioid Dependence In Rutland County, Vermont, Christopher T. Veal Jan 2018

Out-Of-Pocket Cost For Individuals Being Treated For Opioid Dependence In Rutland County, Vermont, Christopher T. Veal

Family Medicine Clerkship Student Projects

Each day more than 140 Americans die from drug overdoses, 91 specifically due to opioids. In Vermont, more than 50 people die each year from opioid poisoning. With insurance coverage being a critical component of Opioid Dependence Recovery, many people seeking treatment are unaware of the financial barriers to recovery- namely the out-of-pocket costs associated with treatment. This study sought to provide insight on the financial impact of Opioid Dependence Treatment on the patient, and provide financial assistance information to the Rutland County community.


A Changing Industry: An Analysis Of The Effects Of Direct-To-Consumer Advertising On The Insurance Industry, James Bonvicini May 2017

A Changing Industry: An Analysis Of The Effects Of Direct-To-Consumer Advertising On The Insurance Industry, James Bonvicini

Honors Scholar Theses

Direct-to-consumer selling is a shift in the strategies of many companies. As technology continues to play a prominent role in business, companies need to adapt to accommodate, and take advantage of, new opportunities that become available. Many insurance companies are now focusing on improving their direct-to-consumer selling efforts and attracting consumers with new online selling platforms. This thesis looks at the changes inside and outside of the industry that led to this direct method of selling and the impact that this has on the intermediaries in the industry, with a focus on property and casualty businesses. Additionally, this thesis takes ...


Risk Appetites And Empirical Survival Pattern Of Small And Medium Enterprises In Nigeria, Joshua S. Adeyele Dr., Osazee G. Omorokunwa Dr. Feb 2017

Risk Appetites And Empirical Survival Pattern Of Small And Medium Enterprises In Nigeria, Joshua S. Adeyele Dr., Osazee G. Omorokunwa Dr.

The Journal of Entrepreneurial Finance

ABSTRACT

Small and medium enterprises (SMEs) are vital to economic growth and development of a nation. However, many of them fail in the first five years of incorporation due to their exposures to risk financing and strategies employed to meet customers’ need during business shutdown. Hence, this study is designed to verify how SMEs’ risk financing affect their continuity, and to model their survival patterns in context of risk financing and risk management approach employed by the operators. Two hundred and nine copies of valid questionnaire distributed to the respondents were filled and returned. Cramer’s V and multiple regressions ...


Non-Exclusive Dynamic Contracts, Competition, And The Limits Of Insurance, Laurence Ales, Pricila Maziero Nov 2016

Non-Exclusive Dynamic Contracts, Competition, And The Limits Of Insurance, Laurence Ales, Pricila Maziero

Finance Papers

We study how the presence of non-exclusive contracts limits the amount of insurance provided in a decentralized economy. We consider a dynamic Mirrleesian economy in which agents are privately informed about idiosyncratic labor productivity shocks. Agents sign privately observable insurance contracts with multiple firms (i.e., they are non-exclusive). Contracts specify both labor and savings requirements. Firms have no restriction on the contracts they can offer and interact strategically. In equilibrium, contrary to the case with exclusive contracts, a standard Euler equation holds, and the marginal rate of substitution between consumption and leisure is equated to the worker's marginal ...


The Effect Of A Risk-Based Deposit Insurance Program In Korea, Youngil Oh Jan 2016

The Effect Of A Risk-Based Deposit Insurance Program In Korea, Youngil Oh

MPA/MPP Capstone Projects

Countries introduce a deposit insurance system to prevent bank-run and stabilize the financial market by protecting depositors. However, deposit insurance with a flat-rate system induces the insured banks to take more risky activities, an example of moral hazard. To deal with this problem, the Korea Deposit Insurance Corporation ('KDIC') adopted a Risk-Based Insurance Program ('RBIP ') for the Savings Banks ('SBs') on July 1, 2013, by charging a higher rate for the weak SB s and a lower rate for the healthy SBs. To mitigate the initial drastic impact on the SBs in an economic regression, the KDIC had reduced the ...


The Benefits Of Having A Comprehensive Financial Plan For The Average Consumer, And The Necessary Components Comprised To Make An Effective And Efficient Plan, Nicholas M. Lund Jan 2016

The Benefits Of Having A Comprehensive Financial Plan For The Average Consumer, And The Necessary Components Comprised To Make An Effective And Efficient Plan, Nicholas M. Lund

CMC Senior Theses

Socioeconomic changes in American society over the past few decades, as well as an overwhelming amount of uncertainty and misconceptions, have resulted in a majority of Americans to fall short of their financial goals in the short-term, the mid-term, and the long-term. Without proper preparation and financial planning, it is likely that these Americans, and many more, will be unable to reach these goals as well as retire comfortably. Many Americans are overwhelmed with the immense amount of financial information, tools and resources, and as a consequence are unable to plan their finances efficiently and effectively. Americans need a better ...


Demand For Fixed-Price Multi-Year Contracts: Experimental Evidence From Insurance Decisions, Howard Kunreuther, Erwann Michel-Kerjan Oct 2015

Demand For Fixed-Price Multi-Year Contracts: Experimental Evidence From Insurance Decisions, Howard Kunreuther, Erwann Michel-Kerjan

Finance Papers

Do individuals prefer a fixed-price multi-year insurance (MYI) policy to current annual contracts with fluctuating prices? If so, are they willing to pay more for these policies? In a web-based 2-period repeated game with significant real money at stake, individuals have an opportunity to purchase 1-period insurance contracts, 2-period contracts or no insurance against the risk of a hurricane causing damage to their property. When premiums for both insurance options are actuarially fair, more than five times as many people favor the 2-period contract over the 1-period contract. The demand for a 2-period contract remains high even with a loading ...


What Drives Households To Buy Flood Insurance? Evidence From Georgia, Ajita Atreya, Susana Ferreira, Erwann Michel-Kerjan Sep 2015

What Drives Households To Buy Flood Insurance? Evidence From Georgia, Ajita Atreya, Susana Ferreira, Erwann Michel-Kerjan

Finance Papers

Benefiting from access to detailed data on the federally run National Flood Insurance Program for the entire state of Georgia, USA, we analyze residential flood insurance purchasing behavior in that state over more than three decades (1978–2010). The demand for flood insurance on an extensive margin, based on take-up rates, is found to be relatively price inelastic. Aligned with the behavioral economics literature, recent flood events temporarily increase purchases, but this effect fades after 3 years. We also find that the proportion of developed area in floodplains has a significant positive impact on insurance take-up rates. Contrary to what ...


Investment Strategies Amongst Property And Casualty Insurance Companies, Ryan J. Conforti May 2015

Investment Strategies Amongst Property And Casualty Insurance Companies, Ryan J. Conforti

Honors Scholar Theses

The purpose of this work is to take an in-depth look into the investment side of property and casualty insurance. Many P&C companies have thrived over the past century, and much of this success can be attributed to investment income. This thesis will examine how investment philosophy changes from firm to firm, while also looking at how strategies have changed over time. It will also look into the insurance “float,” and examine how investors such as Warren Buffett have utilized this instrument to their favor. Investing is a huge aspect of property and casualty insurance, and this piece will ...


Sec Risk Factors: A Structural Topic Model (Stm) Approach, Kelli A. Duncan, Brandon Vi Trieu Apr 2015

Sec Risk Factors: A Structural Topic Model (Stm) Approach, Kelli A. Duncan, Brandon Vi Trieu

Georgia State Undergraduate Research Conference

No abstract provided.


Risk, Governance, And Readability: An Examination Of Corporate Risk Discussions, Rwanda Smith Apr 2015

Risk, Governance, And Readability: An Examination Of Corporate Risk Discussions, Rwanda Smith

Georgia State Undergraduate Research Conference

No abstract provided.


Could Flood Insurance Be Privatised In The United States? A Primer, Erwann Michel-Kerjan, Jeffrey Czajkowski, Howard Kunreuther Apr 2015

Could Flood Insurance Be Privatised In The United States? A Primer, Erwann Michel-Kerjan, Jeffrey Czajkowski, Howard Kunreuther

Finance Papers

Since 1968, homeowners’ flood insurance in the United States has been mainly provided through the federally-run National Flood Insurance Program (NFIP). The Flood Insurance Reform Act of 2012 raises the possibility of moving coverage to the private sector, assuming the market can price this risk effectively and that premiums reflect risk. This paper provides the first large-scale quantification of risk-based premiums for over 300,000 residences prone to either storm surge or inland flooding using commercially developed probabilistic catastrophe models, and compares these premiums with those currently charged by the NFIP. Our findings reveal significant differences between the two. In ...


Index-Based Insurance And Risk Management Among Nomadic Mongolian Herders , Kelsey Larson Dec 2014

Index-Based Insurance And Risk Management Among Nomadic Mongolian Herders , Kelsey Larson

Independent Study Project (ISP) Collection

Mongolian herders must contend with the risk of dzuds, harsh winters that can kill large numbers of livestock. To do so, they use a mixture of formal financial tools and traditional risk mitigation techniques. This paper is a study of the interaction between the Mongolian Index-based Livestock Insurance Program and traditional informal risk mitigation techniques. The researcher interviews herders in Bulgan soum, Arhangai aimag and Galuut soum, Bayanhongor aimag to compare the IBLI program’s impact in a community that has had IBLI since 2006 and one that only received IBLI in 2012. This study finds that insurance purchase is ...


Financial Valuation Of Pbgc Insurance With Market-Implied Default Probabilities, Jules H. Van Binsbergen, Robert Novy-Marx, Joshua Rauh Jan 2014

Financial Valuation Of Pbgc Insurance With Market-Implied Default Probabilities, Jules H. Van Binsbergen, Robert Novy-Marx, Joshua Rauh

Finance Papers

In this paper, we use financial valuation techniques to measure the unfunded liabilities associated with the Pension Benefit Guaranty Corporation (PBGC) single-employer pension insurance program. This is an alternative approach to the calculations of expected future PBGC payouts in the PBGC exposure reports. The PBGC insurance is akin to an exchange option, a financial instrument that allows a party to exchange one risky asset for another. Calculating the value of this option for each PBGC-covered plan provides a measure of the fair market price of the PBGC guarantee that is consistent with the finance principles of risk-neutral pricing. That is ...


Want More Value From Prescription Drugs? We Need To Let Prices Rise And Fall, Dana. P. Goldman, Adam Leive, Darius Lakdawalla Dec 2013

Want More Value From Prescription Drugs? We Need To Let Prices Rise And Fall, Dana. P. Goldman, Adam Leive, Darius Lakdawalla

Health Care Management Papers

The high price of some cancer drugs has recently come under attack by the medical profession. We examine the reasons behind the pricing strategies of cancer drugs. On the one hand, prices should reflect value and research demonstrates that the health benefits from novel cancer drugs have been enormous in terms of additional years of life patients can now enjoy. This provides some justification for the high price tag of these drugs. On the other hand, drug pricing is also a product of a hidebound reimbursement system that does a poor job in letting prices adjust to new information about ...


Revenue Diversification And 501 (C) 6 Nonprofit Trade Associations: Technology Councils Of North American And The Pittsburgh Technology Council, Reuben Dacher-Shapiro Apr 2013

Revenue Diversification And 501 (C) 6 Nonprofit Trade Associations: Technology Councils Of North American And The Pittsburgh Technology Council, Reuben Dacher-Shapiro

MPA Capstone Projects 2006 - 2015

Since 2009 the Pittsburgh Technology Council (PTC) has been experiencing a decrease in the revenue they generate from the sale of insurance to its members. This decrease is a significant problem because it is non-program related unrestricted revenue. This type of revenue is vital for PTC because it allows them to constantly adapt to the needs of their members in the volatile economic environment of the Southwestern Pennsylvania technology sector.


Implications Of Off-Farm Income For Farm Income Stabilization Policies, Simon Jette-Nantel Jan 2013

Implications Of Off-Farm Income For Farm Income Stabilization Policies, Simon Jette-Nantel

Theses and Dissertations--Agricultural Economics

This dissertation examines to what extent off-farm diversification may be an appropriate and accessible tool to mitigate the adverse effects from market failures and incompleteness in the crop and farm income insurance market. While the influence of the nonfarm sector has long been recognized as a primary force in shaping farm structure, off-farm income is rarely acknowledge as a risk management tool for operators and households of commercial farms. The dissertation develops a dynamic model that includes capital market imperfections, economies of scale in farm production, and the presence of adjustment costs in labor allocation decisions. The model provides a ...


Further Evidence On The Ability Of Fifo And Lifo Earnings To Predict Operating Cash Flows: An Industry Specific Analysis, Brock Murdoch, Bruce Dehning, Paul Krause Jan 2013

Further Evidence On The Ability Of Fifo And Lifo Earnings To Predict Operating Cash Flows: An Industry Specific Analysis, Brock Murdoch, Bruce Dehning, Paul Krause

Accounting Faculty Articles and Research

The continuing convergence of U.S. GAAP with International Accounting Standards has brought into question the future use of the LIFO inventory method in the U.S. Since the Financial Accounting Standards Board (2010) has stipulated that earnings should aid investors and creditors in their quest to forecast future cash flows to the enterprise, this research examines whether FIFO earnings or LIFO earnings is preferable, for this purpose, as an aid to ex ante operating cash flow itself,over a three-year forecast horizon. We conclude that ex ante operating cash flows are quite useful in forecasting operating cash flows across ...


Mortgage Securitization 666: The Crime That Took Place - Jpmorgan Chase And Its Wamu Customers, Symphony Music Sep 2012

Mortgage Securitization 666: The Crime That Took Place - Jpmorgan Chase And Its Wamu Customers, Symphony Music

Symphony Music

This description of the crime that Chase participates in as it proceeds with its foreclosure activities is necessary because the banking industry is misleading the judicial system about important financial aspects of today’s home loan mortgages. This is an initial attempt to describe the crime, including references to La Cosa Nostra and the crime families.


Slideshow: Bank Monopoly Power In The Usa, Symphony Music Jun 2012

Slideshow: Bank Monopoly Power In The Usa, Symphony Music

Symphony Music

Slideshow about US bank monopoly power. A distilled history of banking evolution to what it is today and the shift away from the Public Trust. Includes the bank's tactical response strategy.


Slideshow: Participants In A Securitization, Symphony Music Jun 2012

Slideshow: Participants In A Securitization, Symphony Music

Symphony Music

Presentation outlining the roles of Securitization participants and the banking "front" that undermines regulations and creates the fraud.


Mortgage Securitization 550: Ultimate Insider Appendix - Research For Future Tongue-In-Cheek Mortgage & Disclosure Issues, Symphony Music Jun 2012

Mortgage Securitization 550: Ultimate Insider Appendix - Research For Future Tongue-In-Cheek Mortgage & Disclosure Issues, Symphony Music

Symphony Music

Tongue in Cheek disclosure of bank actual statements


Mortgage Securitization 426 Working Paper: Is It An Insurance Product?, Symphony Music Jun 2012

Mortgage Securitization 426 Working Paper: Is It An Insurance Product?, Symphony Music

Symphony Music

This discussion highlights informed interaction between two knowledgeable parties about whether the residential mortgage asset backed securitization process involves the creation of an insurance product. Although an initial conclusion reached by an Insurance Examiner that it is not “insurance,” that same Examiner opened the door that it could be viewed as “insurance.” If it is determined that insurance is involved, the obligation to collect taxes falls onto the Connecticut State Department of Revenue Services, the requirement to collect balance sheets falls onto the Insurance Department, and the decision to prosecute originators for perpetuating a fraud on bank loan consumers falls ...


Slideshow: Case Study- Jpmorgan Chase & Washington Mutual, Symphony Music, Melody Singer Jun 2012

Slideshow: Case Study- Jpmorgan Chase & Washington Mutual, Symphony Music, Melody Singer

Symphony Music

Slideshow of how Chase took advantage of its actions to take property from American Homeowners.


Mortgage Securitization 550: The Ultimate Insider Game - Observations About What Happened - A Time Line Of Actions And Speculation About Motivation., Symphony Music Jun 2012

Mortgage Securitization 550: The Ultimate Insider Game - Observations About What Happened - A Time Line Of Actions And Speculation About Motivation., Symphony Music

Symphony Music

This is the story of Chase1, the venerable old line bank, and how it used its dominant market influence in the decade leading up to 2012 to originate and acquire mortgage loans, how it forced individual homeowners to pay high rates, and how it ultimately began to steal the home equity away from hard-working homeowners and their families. It is also the story about how the largest US banks combined their anti-competitive behavior and took from residents in all States. As illustrated by the chain of events described below for a situation in Connecticut, Chase's attitude and actions never ...


Slideshow: Where Is A Default In A Securitization?, Symphony Music Jun 2012

Slideshow: Where Is A Default In A Securitization?, Symphony Music

Symphony Music

There is no "default" in a securitized mortgage loan. The loan is paid off ab initio and the existence of the note is fabricated from paid off balances for the convenience of the originators who didn't think through the foreclosure process.