Insurance Commons^™

Why It Managers Don't Go For Cyber-Insurance Products, Tridib Bandyopadhyay, Vijay S. Mookerjee, Ram C. Rao

Faculty and Research Publications

Despite positive expectations, cyber-insurance products have failed to take center stage in the management of IT security risk. Market inexperience, leading to conservatism in pricing cyber-insurance instruments, is often cited as the primary reason for the limited growth of the cyber-insurance market. In contrast, here we provide a demand-side explanation for why cyber-insurance products have not lived up to their initial expectations. We highlight the presence of information asymmetry between customers and providers, showing how it leads to overpricing cyber-insurance contracts and helps explain why cyber insurance might have failed to deliver its promise as a cornerstone of IT security-management …

Ua3/9 Fall 2009 Midpoint Report, Wku President's Office, Gary Ransdell

WKU Archives Records

Memo from President Gary Ransdell to all faculty and staff regarding events and announcements for Fall semester 2009.

Manual: The Blue Foundation For A Healthy Florida- October 2009-June 2010 Media Coverage, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A manual for the Blue Foundation for a healthy Florida Media coverage for October 2009- June 2010.

Reinsurance Contracting With Adverse Selection And Moral Hazard: Theory And Evidence, Zhiqiang Yan

Risk Management and Insurance Dissertations

This dissertation includes two essays on adverse selection and moral hazard problems in reinsurance markets. The first essay builds a competitive principal-agent model that considers adverse selection and moral hazard jointly, and characterizes graphically various forms of separating Nash equilibria. In the second essay, we use panel data on U.S. property liability reinsurance for the period 1995-2000 to test for the existence of adverse selection and moral hazard. We find that (1) adverse selection is present in private passenger auto liability reinsurance market and homeowners reinsurance market, but not in product liability reinsurance market; (2) residual moral hazard does not …

Reynolds, William Russell, Jr., 1878-1955 (Sc 2004), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Small Collection 2004. Letters, chiefly to William Russell Reynolds, Jr., Cave City, Barren County, Kentucky, in his role as an agent or "sovereign" for the Woodmen of the World.

Cuarto Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Memorias del Cuarto Congreso Nacional de Organismos Públicos Autónomos

"El papel de los Organismos Públicos Autónomos en la Consolidación de la Democracia"

The Blue Foundation For A Healthy Florida, Inc. Health Foundation Of South Florida Opa-Locka Community Meeting, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Agenda: The Blue Foundation For A Healthy Florida, Inc. Health Foundation Of South Florida Opa-Locka Community Meeting, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

The Psychology Of Money: Beyond Behavioral Finance, Cicily Maton, William Martin

Publications – Dreihaus College of Business

Behavioral finance has attracted the attention of both academics and practitioners. This article explores the roots of behavioral finance, psychology, and showns how these principles are actually used in practice.

Controlling The Cost Of Municipal Health Insurance: Lessons From Springfield, Robert L. Carey

Edward J. Collins Center for Public Management Publications

The study finds that, by joining the Group Insurance Commission (GIC), Springfield cut increases in its health care costs an estimated $14 million to $18 million over two years. It saved an additional $5 million per year by requiring eligible municipal retirees to enroll in Medicare Part B as a precondition of receiving supplemental health coverage from the City. These two actions, together, reduced increases in the City’s health care costs an estimated 15-19% annually, on average, with savings growth each year due to compounding. Furthermore, the study estimates that if the GIC continues its past pattern of keeping its …

The Psychology Of Money: Beyond Behavioral Finance, Cicily Maton, William Marty Martin

William Marty Martin

Behavioral finance has attracted the attention of both academics and practitioners. This article explores the roots of behavioral finance, psychology, and showns how these principles are actually used in practice.

Difficult Choices In Total Compensation: Balancing Health Care Costs And Wage Increases, Jennifer Dose

Business Educator Scholarship

This article describes an experiential exercise suitable for undergraduate or master’s-level students. The goals of the exercise are for students to correctly apply health insurance concepts such as premium, deductible, co-pay, and coinsurance; to understand and explain the dilemma facing organizations in an environment of increasing health care costs and limited compensation budgets; to discern and apply the concerns of employees with varying demographic profiles to health care cost sharing; and to develop competency in calculating health care costs at the organizational level. Students receive a scenario in which they act as an employee representative and are asked to provide …

The Relation Between Regulation And Class Actions: Evidence From The Insurance Industry, Eric Helland, Jonathan Klick

All Faculty Scholarship

Standard law and economics models imply that regulation and litigation serve as substitutes. We test this by looking at the incidence of insurance class actions as a function of measures of regulatory enforcement. We also look specifically at whether states with clear regulatory standards regarding the use of OEM parts experience less litigation over this issue. We find no evidence of substitution between regulation and litigation. We also examine the possibility that litigation is more frequent in states where regulators are more likely to be captured by industry interests, finding no support for this hypothesis either. Instead, litigation is more …

Healthcare Could Your Organization Save Money With Complementary And Alternative Medicine?, William Martin, Hugh Long

Publications – Dreihaus College of Business

Some evidence suggests complementary and alternative medicine could reduce costs and improve efficiency while increasing patient satisfaction.

Special Edition Of Journal Of Business Ethics, Marilynn P. Fleckenstein Ph.D., Patrick Flanagan, Victoria Shoaf Ph.D., Patricia Werhane Ph.D.

Patrick Flanagan

DePaul University hosted the 14th Annual International Conference Promoting Business Ethics, at The Standard Club in Chicago, November 1–3, 2007. Academic and business leaders came together to explore the important ethical issues facing the business community in the twenty-first century. The articles in this special volume of The Journal of Business Ethics have been selected from the many presentations at this conference. Sponsored annually by the Vincentian Universities in the United States (DePaul University, in Chicago, Illinois; Niagara University in Niagara Falls, NY; and St. John’s University in Queens, NY) this conference promotes the mission of St. Vincent DePaul, the …

Healthcare Could Your Organization Save Money With Complementary And Alternative Medicine?, William Martin, Hugh Long

William Marty Martin

Some evidence suggests complementary and alternative medicine could reduce costs and improve efficiency while increasing patient satisfaction.

Special Edition Of Journal Of Business Ethics, Patrick Flanagan, Marilynn P. Fleckenstein Ph.D., Victoria Shoaf Ph.D., Patricia Werhane Ph.D.

Patrick Flanagan

The articles in this special volume of Journal of Business Ethics have been selected from the many presentations at this conference and represent a cross section of the topics and issues covered at the Vincentian Business Ethics Conference at the Manhattan campus of St. John's University in the fall of 2009. Sponsored annually by the Vincentian universities in the United States (DePaul University, in Chicago, Illinois; Niagara University in Niagara Falls, NY; and St. John’s University in Queens, NY), this conference promotes the mission of St. Vincent DePaul, the seventeenth-century Roman Catholic saint who serves as the patron of these …

Special Edition Of Journal Of Business Ethics, Patrick Flanagan, Marilynn P. Fleckenstein Ph.D., Patrick D. Primeaux Ph.D., Victoria Shoaf Ph.D., Patricia Werhane Ph.D.

Patrick Flanagan

Niagara Falls, New York was home to the 13th Annual Vincentian International Conference Promoting Business Ethics sponsored by DePaul University (Chicago, IL), Niagara University (Niagara, NY), and St. John’s University (New York, NY), the three American universities sponsored by the Congregation of the Mission (the Vincentians). Conferences in the past had specific themes and corresponding paper presentations focused on a particular topic. This one intentionally did not have a central organizing subject matter to allow for greater diversity. Leaders from the academic and corporate sectors, representing 30 countries, submitted excellent papers on a broad range of ethical issues. This rich …

Form: The Blue Foundation For A Healthy Florida Sapphire Award Recognizing Community Health Excellence 2009 Nomination Information, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Report: Investing In America's Health, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Booklet: Investing In America's Health, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Event Program: United Way’S Campaign & Leadership Recognition Event, United Way Of Northeast Florida

Florida Blue Archives Printed Materials

No abstract provided.

2009 Blue Foundation Report To The Community, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

2009 Blue Foundation Report to the Community.

Sapphire Award Program: Grants And Awards Given, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

An informational document about grants and awards given through the Sapphire Award Program.

The Effects Of Tort Reform On Medical Malpractice Insurers’ Ultimate Losses, Patricia Born, W. Kip Viscusi, Tom Baker

All Faculty Scholarship

Whereas the literature evaluating the effect of tort reforms has focused on reported incurred losses, this paper examines the long run effects using a comprehensive sample by state of individual firms writing medical malpractice insurance from 1984-2003. The long run effects of reforms are greater than insurers' expected effects, as five year developed losses and ten year developed losses are below the initially reported incurred losses for those years following reform measures. The quantile regressions show the greatest effects of joint and several liability limits, noneconomic damages caps, and punitive damages reforms for the firms that are at the high …

Risky Asset Substitution In The Insurance Industry: An Historical Example, Brenda Wells, Karen Epermanis, Larry A. Cox, Michael Mcshane

Finance Faculty Publications

In the 1980s, life insurers sold guaranteed investment contracts (GICs) to pension plan sponsors, then backed these contracts with portfolios heavily weighted with higher risk assets such as common stocks and junk bonds. Ultimately this caused considerable loss, and history has repeated itself in many respects in recent years via holdings of equities and mortgage-backed securities. We evaluate the risky asset substitution in the life insurance industry from an historical perspective to determine if organizational form or other factors might be rationale for managerial decisions to engage in asset substitution. We find evidence that stock insurer managers are more likely …