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2011

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Articles 1 - 30 of 46

Full-Text Articles in Insurance

The Genetic Information Nondiscrimination Act (Gina): Public Policy And Medical Practice In The Age Of Personalized Medicine, Eric A. Feldman Dec 2011

The Genetic Information Nondiscrimination Act (Gina): Public Policy And Medical Practice In The Age Of Personalized Medicine, Eric A. Feldman

Faculty Scholarship at Penn Law

Survey data suggest that many people fear genetic discrimination by health insurers or employers. In fact, such discrimination has not yet been a significant problem. This article examines the fear and reality of genetic discrimination in the United States, describes how Congress sought to prohibit such discrimination by passing the Genetic Information Nondiscrimination Act of 2008 (GINA), and explores the implications of GINA for general internists and their institutions. It concludes that medical providers and health care institutions must be familiar with the general intent and specific terms of GINA, and should continue to collect genetic information that can contribute ...


Not Every Risk Manager Needs To Become An Erm, Zachary S. Finn Dec 2011

Not Every Risk Manager Needs To Become An Erm, Zachary S. Finn

Zachary S. Finn

The author reflects on the responsibilities of risk managers in fulfilling their important role in insurance companies. He asserts that traditional risk managers needs to be part adjuster, part attorney, part underwriter, part risk-finance professional and part loss-control engineer. With such profound task, he contends that risk managers can perform their vital role in the organization without the need of becoming an enterprise risk manager.


What Do You Charge? It Depends., Zachary S. Finn Dec 2011

What Do You Charge? It Depends., Zachary S. Finn

Zachary S. Finn

Explores pricing variables for risk management service fees. Client's risk management service needs; Level of investment needed to meet the clients' risk management needs; Measurement of the return on investment.


Why Not Rms In In Insurance Agencies?, Zachary S. Finn Dec 2011

Why Not Rms In In Insurance Agencies?, Zachary S. Finn

Zachary S. Finn

Comments on the significant role played by risk managers in the insurance industry as well as in companies which have limited or no knowledge as to what risk management is.


Spoiled Brands: Protecting Your Company's Goodwill And Assets From Food Contamination Claims, Zachary S. Finn, Timothy Anderson, Donald Lund Dec 2011

Spoiled Brands: Protecting Your Company's Goodwill And Assets From Food Contamination Claims, Zachary S. Finn, Timothy Anderson, Donald Lund

Zachary S. Finn

For most people, going to a restaurant ends with a sense of satisfaction and enjoyment, not sickness and the possibility of death. This is also true when purchasing products at a local grocery store. However, recent events have cast doubt on the safety of America’s food supply. The issue facing risk managers is how to reduce these escalating risks and manage any unfortunate outcomes. The cost of food contamination can be devastating to a business financially, and can result in both direct losses related to product recall expenses and indirect losses such as lost reputation and goodwill. By reducing ...


Longevity Risk Management In Singapore’S National Pension System, Joelle H Y Fong, Benedict S K Koh, Olivia Mitchell Dec 2011

Longevity Risk Management In Singapore’S National Pension System, Joelle H Y Fong, Benedict S K Koh, Olivia Mitchell

Business Economics and Public Policy Papers

Although annuities are a theoretically appealing way to manage longevity risk, in the real world relatively few consumers purchase them at retirement. To counteract the possibility of retirees outliving their assets, Singapore's Central Provident Fund, a national defined contribution pension scheme, has recently mandated annuitization of workers’ retirement assets. More significantly, the government has entered the insurance market as a public-sector provider for such annuities. This article evaluates the money's worth of life annuities and discusses the impact of the government mandate and its role as an annuity provider on the insurance market.


The Effects Of Government Intervention On The Market For Corporate Terrorism Insurance, Erwann Michel-Kerjan, Paul A. Raschky Dec 2011

The Effects Of Government Intervention On The Market For Corporate Terrorism Insurance, Erwann Michel-Kerjan, Paul A. Raschky

Finance Papers

Nine OECD countries presently have national terrorism insurance programs based on some type of public–private risk sharing. While such arrangements have helped provide the necessary insurance capacity in the post-September 11, 2001 era, little is known about the effect of such governmental intervention on terrorism insurance markets. This paper focuses on the United States, where the Terrorism Risk Insurance Act of 2002 (TRIA) provides insurers with no cost federal reinsurance up to an industry-wide loss of $100 billion. We present an empirical analysis to compare how insurers' diversification behavior varies between property coverage (no governmental intervention) and terrorism coverage ...


Brand Overview – From Refresh To Repositioning – 12/2011, Blue Cross And Blue Shield Of Florida, Inc. Dec 2011

Brand Overview – From Refresh To Repositioning – 12/2011, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A brand overview from refresh to repositioning from December 2011. Box 24, Folder 303.


The Law And Economics Of Liability Insurance: A Theoretical And Empirical Review, Tom Baker, Peter Siegelman Nov 2011

The Law And Economics Of Liability Insurance: A Theoretical And Empirical Review, Tom Baker, Peter Siegelman

Faculty Scholarship at Penn Law

We survey the theoretical and empirical literature on the law and economics of liability insurance. The canonical Shavell model predicts that, despite the presence of some ex ante moral hazard (care-reduction by insureds), liability insurance will generally raise welfare because its risk-spreading gains will likely be larger than its adverse effects on precautionary activities. We discuss the numerous features of liability insurance contracts that are designed to reduce ex ante moral hazard, and examine the evidence of their effects. Most studies conclude that these features work reasonably well, so that liability insurance probably does not generate substantial ex ante moral ...


Bcbsf Foundation Endowment- Blue Cross And Blue Shield Of Florida Chair In Health Disparities And The Robert I. Lufrano, M.D. Health Disparities Support Fund At The University Of Florida, Blue Cross And Blue Shield Of Florida, Inc. Nov 2011

Bcbsf Foundation Endowment- Blue Cross And Blue Shield Of Florida Chair In Health Disparities And The Robert I. Lufrano, M.D. Health Disparities Support Fund At The University Of Florida, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

BCBSF Foundation Endowment- Blue Cross and Blue Shield of Florida Chair in Health Disparities and the Robert I. Lufrano, M.D. Health Disparities Support Fund at the University of Florida. Box 30, Folder 386.


Noción Y Elementos Existenciales Del Título De Crédito, Bruno L. Costantini García Oct 2011

Noción Y Elementos Existenciales Del Título De Crédito, Bruno L. Costantini García

Bruno L. Costantini García

Discernir la noción y elementos de existencia de los títulos de crédito, considerando la doctrina y la denominación expresada en nuestra Ley General de Títulos y Operaciones de Crédito, conceptualizando el término de los documentos que consignan un derecho crediticio propio de su naturaleza y deslindando de manera dogmatica y exegética los elementos que lo forman y le dan su funcionamiento, mediante una visión de las instituciones jurídicas que les dan su existencia y aplicación dentro del devenir de los actos de comercio.


Manual: Blue Cross And Blue Shield Of Florida Foundation-October 2011-September 2012 Media Placements, Blue Cross And Blue Shield Of Florida, Inc. Oct 2011

Manual: Blue Cross And Blue Shield Of Florida Foundation-October 2011-September 2012 Media Placements, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A manual for the Blue Cross and Blue Shield of Florida Foundation Media Placements for October 2011 - September 2012. Box 29, Folder 383.


Generalidades De La Propiedad Intelectual En México, Bruno L. Costantini García Sep 2011

Generalidades De La Propiedad Intelectual En México, Bruno L. Costantini García

Bruno L. Costantini García

Presentación de las Generalidades de la Propiedad Intelectual en México (Propiedad Industrial y Derechos de Autor), legislación que la rige, aplicación y modalidades


La Jurisprudencia En México, Bruno L. Costantini García Aug 2011

La Jurisprudencia En México, Bruno L. Costantini García

Bruno L. Costantini García

Breve presentación de la jurisprudencia en México, su aplicación, objetivos y fines para el Derecho Mexicano. ¿Por qué es util para el derecho? ¿Quién la emite?


Notariado Y Correduria Y Su Registro En México, Bruno L. Costantini García Aug 2011

Notariado Y Correduria Y Su Registro En México, Bruno L. Costantini García

Bruno L. Costantini García

Introducción al Derecho Notarial y Registral en México, cuyo objeto es conocer los elementos de las figuras del notario y del corredor público, la formalización de sus actos y su registro.


Flood Damaged Crops, Crop Insurance Payments And Lease Contracts, William M. Edwards Aug 2011

Flood Damaged Crops, Crop Insurance Payments And Lease Contracts, William M. Edwards

Integrated Crop Management News

Some Iowa corn and soybean producers are facing substantial if not complete crop losses due to flooding. In particular, many acres of crops in the Missouri River Valley have been under water for a month or more this year. Fortunately, nearly 90 percent of Iowa’s corn and soybean acres are protected by multiple peril crop insurance.


Price Analysis, Risk Assessment, And Insurance For Organic Crops, Ariel Singerman, Chad E. Hart, Sergio H. Lence Aug 2011

Price Analysis, Risk Assessment, And Insurance For Organic Crops, Ariel Singerman, Chad E. Hart, Sergio H. Lence

CARD Policy Briefs

In recent years, the organic sector has grown steadily and significantly. However, little economic research has been performed on risk management in organic agriculture, likely because of the lack of available data. This lack of data may also be why the creation of the current crop insurance policy for organic farmers has been so ad hoc.

The Agricultural Risk Protection Act of 2000 recognized organic farming as a “good farming practice,” making federal crop insurance coverage available for organic crops, and taking into account the idiosyncrasies of the organic production system. In addition to the production risks covered for conventional ...


Is Imprecise Knowledge Better Than Conflicting Expertise? Evidence From Insurers’ Decisions In The United States, Laure Cabantous, Denis Hilton, Howard Kunreuther, Erwann Michel-Kerjan Jun 2011

Is Imprecise Knowledge Better Than Conflicting Expertise? Evidence From Insurers’ Decisions In The United States, Laure Cabantous, Denis Hilton, Howard Kunreuther, Erwann Michel-Kerjan

Operations, Information and Decisions Papers

This paper reports the results of the first experiment in the United States designed to distinguish between two sources of ambiguity: imprecise ambiguity (expert groups agree on a range of probability, but not on any point estimate) versus conflict ambiguity (each expert group provides a precise probability estimate which differs from one group to another). The specific context is whether risk professionals (here, insurers) behave differently under risk (when probability is well-specified) and different types of ambiguity in pricing catastrophic risks (floods and hurricanes) and non-catastrophic risks (house fires). The data show that insurers charge higher premiums when faced with ...


Shirking The Duty To Defend In Florida: Is Assignment The Exception To Argonaut?, Matthew J. Jowanna May 2011

Shirking The Duty To Defend In Florida: Is Assignment The Exception To Argonaut?, Matthew J. Jowanna

Matthew J. Jowanna

A lawsuit is filed by a plaintiff and the defendant is served. The defendant has a drawer full of liability insurance policies and, therefore, the insured defendant sends a copy of the served complaint to any and all insurance carriers that may provide coverage for the claim. The insured defendant then receives a few coverage denials for reasons such as the event at issue did not occur within a certain policy period or that the insured’s private automobile policy does not provide coverage for a commercial general liability claim. In any event, the denials appear to be valid -so ...


The New England States Collaborative For Insurance Exchange Systems: Supporting Massachusetts And National Health Reform Through Technology Innovation, Jay S. Himmelstein, Michael A. Tutty, Scott Keays May 2011

The New England States Collaborative For Insurance Exchange Systems: Supporting Massachusetts And National Health Reform Through Technology Innovation, Jay S. Himmelstein, Michael A. Tutty, Scott Keays

UMass Center for Clinical and Translational Science Research Retreat

Project Goal: To create Health Insurance Exchange (HIX) Information Technology components in Massachusetts that are consumer-focused, cost-effective, reusable, and sustainable and that can be leveraged by New England and other states to operate Health Insurance Exchanges. The NESCIES project approach will be to create and build a flexible HIX Information Technology framework in Massachusetts designed to connect consumers, small businesses, and health plans that can be tailored to the needs of the New England states and beyond.Achieving this goal will require the creation of solutions that are component based, adaptable, and based on the standards required by the ACA.


Essays In Retirement Security, Hungyee Fong May 2011

Essays In Retirement Security, Hungyee Fong

Publicly Accessible Penn Dissertations

The first chapter “Investment Patterns in Singapore’s Central Provident Fund System” investigates how plan participants in a national defined contribution system invest their pension accumulations. I find that only a small fraction of participants elects to invest in outside investment products like professionally-managed mutual funds. Simulation results using cost data from over 200 funds demonstrate that the minimum hurdle rate of return a fund must generate is about five percent a year. Accordingly, more policy attention can be devoted to lowering fund commission charges and rationalizing the investment menu offered to participants.

In the second chapter “Longevity Risk Management ...


The Impact Of Culture On Non-Life Insurance Consumption, Aranee Treerattanapun May 2011

The Impact Of Culture On Non-Life Insurance Consumption, Aranee Treerattanapun

Wharton Research Scholars

This study investigates the impact of culture on non‐life insurance consumption. Various economic institutional, and cultural variables regarding 82 countries across a 10‐year period are considered when building up the best and most parsimonious regression model. Employing blocking and bootstrapping techniques, we find that nations with a low degree of Power Distance, a high level of Individualism, and a high degree of Uncertainty Avoidance tend to have a high level of non‐life insurance consumption. The
empirical results suggest that consumers may respond to insurance solicitations according to their cultural belief, not only economic rationality.


Risk-Based Pricing And Risk-Reducing Effort: Does The Private Insurance Market Reduce Environmental Accidents?, Haitao Yin, Howard Kunreuther, Matthew. W. White May 2011

Risk-Based Pricing And Risk-Reducing Effort: Does The Private Insurance Market Reduce Environmental Accidents?, Haitao Yin, Howard Kunreuther, Matthew. W. White

Operations, Information and Decisions Papers

This paper examines whether risk-based pricing promotes risk-reducing effort. Risk-based pricing is common in private insurance markets but rare in government assurance programs. We analyze accidental underground fuel tank leaks—a source of environmental damage to water supplies—over a 14-year period, using disaggregated (facility-level) data and policy variation in financing the cleanup of tank leaks over time. The data indicate that eliminating a state-level government assurance program and switching to private insurance markets to finance cleanups reduce the frequency of underground fuel tank leaks by more than 20 percent. This corresponds to more than 3,000 fuel tank release ...


The Medium-Term Impact Of Medicare Part D On Pharmaceutical Prices, Mark Duggan, Fiona S. Morton May 2011

The Medium-Term Impact Of Medicare Part D On Pharmaceutical Prices, Mark Duggan, Fiona S. Morton

Health Care Management Papers

Medicare Part D began coverage of prescription drugs in 2006. Using data from the first year of the program we found that Part D reduced pharmaceutical prices for Medicare recipients, with these effects driven by enrollees previously without drug coverage. In this paper we extend our analysis through 2009, the fourth year of the program, to investigate whether plans continued to extract price concessions in return for favorable formulary placement, or if consumer inertia or other factors caused prices to bounce back after their initial decline. We find price declines persisted through at least the third year of the program.


Proliferation Of Cross Border Trade In Health Services, Kevin Tolliver May 2011

Proliferation Of Cross Border Trade In Health Services, Kevin Tolliver

Chancellor’s Honors Program Projects

No abstract provided.


Risk Disclosure In Sec Corporate Filings, Yatin Mirakur Apr 2011

Risk Disclosure In Sec Corporate Filings, Yatin Mirakur

Wharton Research Scholars

Beginning in 2005, the SEC required firms to include qualitative disclosures of risk factors in item 1A in their annual 10-K forms. In this paper, we examine the textual content of this section and determine whether it reflects the firm’s performance. We first categorized each risk disclosure that a firm presented into one of 29 categories and then examined these categorizations. Our investigation yields three main results. First, we find that several risk factor categories, such as government and competitive risks, are common across our sample of firms. Second, we find that a firm’s industry classification (as given ...


Insurance And The Demand For Medical Care, Mark V. Pauly Phd Apr 2011

Insurance And The Demand For Medical Care, Mark V. Pauly Phd

Health Care Management Papers

Insurance coverage affects the use and cost of medical care, and so potentially can play a role in assuring that spending comes closer to the optimum. This article describes the implications of third party financing, whether public or private. The key issue is that—in the absence of direct user payment for services—there is an incentive for inefficient moral hazard, or excess use of services. This article uses the voluntary insurance purchasing model to frame the discussion of demand effects because that is the model used extensively in the literature. It later raises the alternative social goals model and ...


Manual: Blue Cross And Blue Shield Of Florida Foundation- April 2011-October 2011 Media Placements, Blue Cross And Blue Shield Of Florida, Inc. Apr 2011

Manual: Blue Cross And Blue Shield Of Florida Foundation- April 2011-October 2011 Media Placements, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A manual for the Blue Cross and Blue Shield of Florida Foundation Media Placements for April 2011 - October 2011. Box 29, Folder 382.


Time To Revisit Crop Insurance Premium Subsidies?, Bruce A. Babcock Mar 2011

Time To Revisit Crop Insurance Premium Subsidies?, Bruce A. Babcock

CARD Policy Briefs

In 2000, Congress decided to move away from a fixed-dollar-per-acre premium subsidy to a subsidy percentage that applies to any crop insurance product offered. This change reduced the cost to farmers of moving from yield insurance to revenue insurance by more than 50%. In addition, Congress decided to pay a large proportion of the additional premium for higher coverage levels, paying for more than half the cost of moving from the 65% to the 75% coverage level and about 25% of the additional cost of moving from 75% to 80% coverage. Not surprisingly, farmers responded to these lower costs by ...


Moral Hazards, Crisis, Bail Outs And E-Scads, Judy Johnston, Alexander Kouzmin, Kym Thorne, Stephen Kelly Feb 2011

Moral Hazards, Crisis, Bail Outs And E-Scads, Judy Johnston, Alexander Kouzmin, Kym Thorne, Stephen Kelly

Adjunct Professor Stephen J Kelly

No abstract provided.