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Full-Text Articles in Insurance

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver Jan 2019

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver

Faculty Scholarship at Penn Law

Forty years after the publication of the first systematic study of adverse medical events, there is greater access to information about adverse medical events and increasingly widespread acceptance of the view that patient safety requires more than vigilance by well-intentioned medical professionals. In this essay, we describe some of the ways that medical liability insurance organizations contributed to this transformation, and we catalog the roles that those organizations play in promoting patient safety today. Whether liability insurance in fact discourages providers from improving safety or encourages them to protect patients from avoidable harms is an empirical question that a survey ...


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.


Managing Catastrophic Risk By Alternative Risk Transfer Instruments, Chieh Ou Yang Aug 2010

Managing Catastrophic Risk By Alternative Risk Transfer Instruments, Chieh Ou Yang

Publicly Accessible Penn Dissertations

Chapter 1 analyzes hybrid-trigger CAT bonds, a new CAT bond deal that can reduce basis risk and eliminate moral hazard simultaneously. It is the first research that provides analytical evidence on the condition under which the hybrid trigger has lower basis risk. Simulation results support my analyses. Major findings in this study provide insights to insurers who would proactively manage the basis risk of CAT bonds. Chapter 2 examines whether the parimutuel mechanism can hedge risk-averse people against catastrophic losses. Two optimal stake choice models are constructed. In the first model where the stakes of other players are exogenous, the ...


Insuring Uncertainty In Value-Added Agriculture: Ethanol Production, Nicholas D. Paulson, Bruce A. Babcock, Chad E. Hart, Dermot J. Hayes Apr 2004

Insuring Uncertainty In Value-Added Agriculture: Ethanol Production, Nicholas D. Paulson, Bruce A. Babcock, Chad E. Hart, Dermot J. Hayes

CARD Working Papers

A wide variety of insurance products is available to agricultural producers to insure against yield or price risks in the markets for the raw commodities they produce. Value-added enterprises, such as ethanol production, have been expanding over the last decade. This paper outlines the development of an insurance product aimed at corn producers who are members of an ethanol production cooperative. The product has the potential to provide these producers with a new and useful risk management tool to insure against price risks in the markets for corn, distillers dried grains with solubles (DDGS), ethanol, and natural gas. Monte Carlo ...


Insuring Liability Risks, Tom Baker Jan 2004

Insuring Liability Risks, Tom Baker

Faculty Scholarship at Penn Law

Recent dramatic increases in prices for medical liability insurance, directors and officers insurance, and other lines of commercial liability insurance, together with the exit of some insurers from those lines of business, has placed liability insurance on the public agenda. At the same time, asbestos and environmental losses continue to mount under general liability insurance policies sold long ago, when no one could have predicted the extent or cost of such losses. In combination, these and other related events have raised serious concerns about the insurability of liability risks and have prompted calls for dramatic efforts to roll back the ...


Why Not Rms In In Insurance Agencies?, Zachary S. Finn Dec 2003

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

Scholarship and Professional Work - Business

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.


The Economics Of Risk, Donald J. Meyer Jan 2003

The Economics Of Risk, Donald J. Meyer

Upjohn Press

This collection offers an economics-based overview of the various facets of risk. It contains six papers that examine a broad array of research relating to risk. Two papers examine risk management and its application to decision making as well as what researchers have learned over the past few decades in their theoretical investigations of risk. The remaining chapters examine how risk plays out in the particular markets in which it has a significant presence, including casino gambling enterprises, agricultural markets, auctions, and health insurance.


Brief 14: Risk Management, New England Resource Center For Higher Education, University Of Massachusetts Boston Sep 2002

Brief 14: Risk Management, New England Resource Center For Higher Education, University Of Massachusetts Boston

New England Resource Center for Higher Education Publications

The development office accepts a gift of a house from a prestigious donor. The faculty has developed and approved a new core curriculum. The institution recently constructed a new campus center. While these circumstances sound no alarms, all involve elements of risk. The welcome gift of the house, later discovered to be contaminated with mold, will involve a costly clean up. A revised curriculum cannot guarantee that the changes will yield the expected results. The construction of a new building has significant implications for maintenance of the physical plant. In a recent meeting NERCHE’s Chief Financial Officers Think Tank ...