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Full-Text Articles in Insurance

Workplace Wellness Programs: Are They Part Of The Answer To The U.S.’S Growing Healthcare Crisis?, Maria C. Grillo Dec 2014

Workplace Wellness Programs: Are They Part Of The Answer To The U.S.’S Growing Healthcare Crisis?, Maria C. Grillo

Cornell HR Review

[Excerpt] Of the $2.8 trillion that the United States has spent on healthcare in recent years, the majority of it (75%) is spent treating chronic disease. Chronic disease is “a long-standing condition that can be controlled but not cured… It is the leading cause of death and disability in the U.S., which is 1.7 million lives each year.” To make matters worse, chronic disease indicators in the U.S. have been on the increase recently. And, even though chronic disease is commonly thought to be more prevalent among the elderly, in the past 10 years, it has ...


The Effects Of The Affordable Care Act On Large Employers And The Impact On The Human Resources Function, Maksim Spivak Dec 2014

The Effects Of The Affordable Care Act On Large Employers And The Impact On The Human Resources Function, Maksim Spivak

Cornell HR Review

[Excerpt] The purpose of this paper is to explore how Fortune 500 companies have been affected by the passing of the Affordable Care Act (ACA). More importantly, this paper will explore what strategies companies have adopted, and what the legislation means to the following stakeholders: company boards, executives, managers, employees, the Human Resource function, and the Benefits staff.


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 ...


Is Government Involvement Really Necessary: Implications For Systemic Risk And Crop Reinsurance Contracts, Xiaoguang Feng, Dermot J. Hayes Oct 2014

Is Government Involvement Really Necessary: Implications For Systemic Risk And Crop Reinsurance Contracts, Xiaoguang Feng, Dermot J. Hayes

Economics Presentations, Posters and Proceedings

Agriculture is subject to substantial systemic risk of crop yield losses due to widespread natural disasters. The systemic risk has been a major obstacle for the development of private crop insurance markets. Driven by spatially correlated weather events, crop losses are highly correlated within a certain area. As a result, the portfolio insurance risk associated with the crop losses has been raised far above what it would be if individual losses were independent, as proposed by Miranda and Glauber (1997). For example, Miranda and Glauber (1997) find that the portfolio risk faced by U.S. crop insurers is about ten ...


Only Too Human: Understanding Health Insurance Markets When Consumers Lack Information, Jonathan T. Kolstad Sep 2014

Only Too Human: Understanding Health Insurance Markets When Consumers Lack Information, Jonathan T. Kolstad

Penn Wharton Public Policy Initiative

When the state and federal health insurance exchanges were introduced in 2013, much attention was paid to the logistics of their launch. Nearly a year later, policymakers should now be looking at a different question: how can we collect and use data from the exchanges to understand how consumers think about insurance choice, so as to make the exchanges function better?


Options Facing Congress In Renewing The Terrorism Risk Insurance Act, Howard Kunreuther, Erwann Michel-Kerjan Jul 2014

Options Facing Congress In Renewing The Terrorism Risk Insurance Act, Howard Kunreuther, Erwann Michel-Kerjan

Penn Wharton Public Policy Initiative

The Terrorism Risk Insurance Act (TRIA) is set to expire at the end of 2014 and is currently under debate in Congress. Renewing TRIA may limit the amount of disaster relief the federal government would contribute after a terrorist attack, but the different options under which TRIA might be renewed carry implications for how losses from any attack would be spread between commercial policyholders, insurers, and taxpayers.


Diversifying Systemic Risk In Agriculture: A Copula-Based Approach, Xiaoguang Feng, Dermot J. Hayes Jul 2014

Diversifying Systemic Risk In Agriculture: A Copula-Based Approach, Xiaoguang Feng, Dermot J. Hayes

Economics Presentations, Posters and Proceedings

One of the biggest obstacles for the development of private crop insurance markets is the systemic risk inherent in crop yields. Driven by spatially correlated weather events, crop losses are highly correlated within a certain area. As a result, the portfolio insurance risk has been raised prohibitively high for viable private crop insurance markets unless subsidized by the government. For example, the portfolio risk faced by U.S. crop insurers is about ten times larger than that of conventional insurance lines (Miranda and Glauber, 1997).


Scenario Analysis In The Measurement Of Operational Risk Capital: A Change Of Measure Approach, Kabir Kalyan Dutta, David F. Babbel Jun 2014

Scenario Analysis In The Measurement Of Operational Risk Capital: A Change Of Measure Approach, Kabir Kalyan Dutta, David F. Babbel

Business Economics and Public Policy Papers

At large financial institutions, operational risk is gaining the same importance as market and credit risk in the capital calculation. Although scenario analysis is an important tool for financial risk measurement, its use in the measurement of operational risk capital has been arbitrary and often inaccurate. We propose a method that combines scenario analysis with historical loss data. Using the Change of Measure approach, we evaluate the impact of each scenario on the total estimate of operational risk capital. The method can be used in stress-testing, what-if assessment for scenario analysis, and Loss Given Default estimates used in credit evaluations.


The Effect Of Entry Regulation In The Health Care Sector: The Case Of Home Health, Daniel Polsky, Guy David, Jianing Yang, Bruce Kinosian, Rachel M. Werner Feb 2014

The Effect Of Entry Regulation In The Health Care Sector: The Case Of Home Health, Daniel Polsky, Guy David, Jianing Yang, Bruce Kinosian, Rachel M. Werner

Health Care Management Papers

The consequences of government regulation in the post-acute care sector are not well understood. We examine the effect of entry regulation on quality of care in home health care by analyzing the universe of hospital discharges during 2006 for publicly insured beneficiaries (about 4.5 million) and subsequent home health admissions to determine whether there is a significant difference in home health utilization, hospital readmission rates, and health care expenditures in states with and without Certificate of Need laws (CON) regulating entry. We identify these effects by looking across regulated and nonregulated states within Hospital Referral Regions, which characterize well-defined ...


Crop Insurance In Iowa, Alejandro Plastina, Chad Hart Jan 2014

Crop Insurance In Iowa, Alejandro Plastina, Chad Hart

Agricultural Policy Review

Farmers across the nation rely heavily on crop insurance as a risk management tool—in Iowa alone over 93 percent of corn and soybean planted area was insured in 2014, but that participation rate hasn’t always been the case. Participation in crop insurance declined substantially in the early 1990s after the mandate that required producers to purchase crop insurance in 1989 and 1990 to collect drought assistance in 1988 dissipated.


Price Expectations And Risk Profiles Drive Commodity Program Choices, Alejandro Plastina, Chad Hart Jan 2014

Price Expectations And Risk Profiles Drive Commodity Program Choices, Alejandro Plastina, Chad Hart

Agricultural Policy Review

The optimal commodity program choice depends as much on the specific production system in each farm as on the producer’s expectations about future yields and prices. Furthermore, the risk profile of producers will weigh heavily in the decision. This article illustrates the role of price expectations and risk profiles in commodity program choice using the ISU Farm Bill Analyzer.


Navigating The Health Care Labyrinth: Portraits Of The Socioeconomically Disadvantaged, Thomas C. Crawford Phd Jan 2014

Navigating The Health Care Labyrinth: Portraits Of The Socioeconomically Disadvantaged, Thomas C. Crawford Phd

Dissertations & Theses

In 2010, an estimated population of the 311,212,863 Americans generated approximately 1,014,688,290 physician office encounters (Moore, 2010). The frequency and number of professional interactions between caregivers and patients/family members in medical office settings equated to a staggering 1,931 visits per minute. Based on the massive volume of interactions that occurred between patients of different races, ethnicities, genders, sexual orientations, and socioeconomic standings that generated an average household income of $49,445 in 2010 (United States Census Bureau, 2010a) with a physician workforce that the Association of American Medical Colleges (2010) captured as being ...