Business Commons^™

Insurance, Policy, And Education For Livestock Producers, Milan Chauhan, Bradley Lubben

Cornhusker Economics

Federal crop insurance programs have existed since the 1930s, but for livestock producers, federal insurance programs were virtually nonexistent until the past 20 years. Livestock producers may not face exactly the same production risks that crop producers face, but they do face similar production risks related to grazing capacity and forage production and of course face price risks just like crop producers do.

Modelling Climate Litigation Risk For (Re)Insurers, Martin Lockman

Sabin Center for Climate Change Law

In response to the growing threat of climate change, the insurance industry has made significant investments in modelling and quantifying physical climate risks. However, the emerging risk of climate litigation has proven particularly difficult to model. In 2015 Mark Carney, then-Governor of the Bank of England and Chairman of the Financial Stability Board, warned that climate litigation poses “long-tail risks” for insurers that may be “significant, uncertain and non-linear.” Since that warning, the number of climate-related cases has more than doubled, and the scope and financial significance of climate litigation has become increasingly clear. However, insurers and regulators still struggle …

North Central Extension Risk Management Education Center Helps Producers Manage Risks, Christine Lockert, Sheila Aikanathan Johnson, Bradley D. Lubben

Cornhusker Economics

The Extension Risk Management Education (ERME) program, funded by USDA's National Institute of Food and Agriculture, provides training to help producers learn new strategies to manage complex and growing agricultural risks. ERME strives to achieve this goal by encouraging and funding innovative programs across the country and helping programs focus on tangible results. Four regional grant-making ERME Centers are located across the country at the University of Delaware (Northeast), the University of Arkansas (South), Washington State University (West) and the University of Nebraska-Lincoln (North Central) along with a Digital Center at the University of Minnesota to help administer online application, …

Customer-Based Brand Equity And Customer Behavioral Intention: Evidence From Insurance Service, Elaheh Bakhshizadeh, Hossein Aliasghari

Research outputs 2022 to 2026

Objectives: Brands as effective tools and the most valuable intangible assets of companies are widely applied to change customer behavioral intentions. Creating brands with high positions in customers' minds which can offer great value to them and affect their decision-making processes and purchase intentions is companies' priority. This study examines the effects of customer-based brand equity and its dimensions comprising brand awareness, brand association, perceived quality, and brand loyalty (Aaker's model) on customer repurchase intention through customer perceived value in the light of signalling theory. Method: These relationships are investigated on a sample of Iranian life insureds (267 customers) in …

Insurance And Enterprise: Cyber Insurance For Ransomware, Tom Baker, Anja Shortland

All Faculty Scholarship

Selling insurance gives insurers an incentive to manage insured risks. The “insurance as governance” literature demonstrates that insurers often make insurance conditional on ex ante risk reduction or mitigation. But insurance governs in support of enterprise, not security for its own sake. Tight underwriting inhibits enterprise – not only for insured businesses but also the business of insurance. This paper highlights ex post loss reduction as a form of insurance-based governance. Drawing on interviews with industry insiders, we explore how insurers addressed the evolving problems of moral hazard, uncertainty, and correlated losses since the 1990s. We find that cyber insurance …

Is Nevada A Reproductive Resource Desert?, Tsion Mekonnen

WRIN Research Publications

Nevada's reproductive health issues is specified in a list of statistical data. The data ranges from issues concerning women living in poverty, the uninsured population of men and women in Nevada, and the amount of women enrolled/eligible for benefits.

The Government Behind Insurance Governance: Lessons For Ransomware, Tom Baker, Anja Shortland

All Faculty Scholarship

The insurance as governance literature focuses on the ability of private enterprises to collectively regulate, pool, and distribute risks. This paper analyzes how governments support insurance markets to maintain insurability and limit risks to society. We propose a new conceptual framework grouping government interventions into three dimensions: regulation of risky activity, public investment in risk reduction, and co-insurance. We apply this framework to six case studies, describing insurance markets’ reliance on public support in more analytically precise terms. We analyze how mature insurance markets overcame insurability challenges akin to those currently presented by extortive cybercrime. Private governance struggled when markets …

Patterns Of Health Care Use Among Rural-Urban Medicare Beneficiaries Age 85 And Older, 2010-2017, Yvonne Jonk Phd, Heidi O'Connor Ms, Amanda Burgess Mppm, Carly Milkowski Mph

Access / Insurance

The purpose of this study was to examine rural-urban differences in health care use among Medicare beneficiaries age 85+. Understanding these differences, and the socioeconomic characteristics that contribute to them, can have important implications for Medicare policies aimed at serving the age 85+ population. Using the Medicare Current Beneficiary Survey 2010-13 Cost and Use and 2015-17 Cost Supplement Files, we examined whether and how rural and urban Medicare beneficiaries age 85+ differ in terms of their:

1. socioeconomic and health characteristics that may inform health care use;
2. trends in health care use, including use of inpatient and emergency department (ED) care; …

The True Cost Of Auto Insurance In The Mountain West, 2022, Annie Vong, Saha Salahi, Caitlin J. Saladino, William E. Brown Jr.

Transportation & Infrastructure

This fact sheet examines data on average annual premiums, percent of income spent on auto insurance, and life events associated with the rising cost of auto insurance in the Mountain West (Arizona, Colorado, Nevada, New Mexico, and Utah). The original report includes data on national averages for auto insurance premiums for all fifty states.

Use Of Livestock Risk Protection Insurance For Cattle Continues To Grow, Jay Parsons

Cornhusker Economics

When used as a regular part of a market risk management plan, livestock risk protection (LRP) insurance can help protect profits in years where markets turn for the worse. The recent changes to the program have made LRP insurance more appealing to cattle producers and sales of LRP have subsequently increased dramatically. Strong price increases may make LRP unnecessary, but it is difficult to predict when the price increases will end. LRP insurance is a safety net, reducing downside price risk by providing a floor on national price expectations while also allowing producers to take advantage of higher national prices …

Does Finance Make Us Less Social?, Henrik Cronqvist, Mitch Warachka, Frank Yu

Business Faculty Articles and Research

Informal risk sharing within social networks and formal financial contracts both enable households to manage risk. We find that financial contracting reduces participation in social networks. Specifically, increased crop insurance usage decreased local religious adherence and congregation membership in agricultural communities. Our identification utilizes the Federal Crop Insurance Reform Act of 1994 that doubled crop insurance usage nationally within a year, although changes in usage varied across counties. Difference-in-difference and Spatial First Difference tests confirm that households substituted insurance for religiosity. This substitution was associated with reductions in crop diversification and crop yields, indicating an increase in moral hazard.

An Examination Of Job Resources And Self-Determination In Employees' Job Involvement, Hernan Morales

FIU Electronic Theses and Dissertations

As employees and organizations continually strive to do more with less, the employer must remain an active partner in understanding the nature of their employee’s job involvement for its competitive advantage. The main objective of this research is to evaluate the influence of several work characteristics and motivational forces on job involvement. The study used a quantitative methodology. The sample of the current study was composed of 214 subjects. The reliability and factor structure of the scales used were evaluated and validated. The main results showed that intrinsic and prosocial motivations significantly influenced individual job involvement. Moreover, the results show …

The Impact Of Different Worldviews On The Financial Planning Process, Luke Osterhus

Senior Honors Theses

An individual's worldview has an effect on all aspects of their life. Worldview affects the decisions people make, the clothes they wear, the people they interact with, and so much more. What is often overlooked is the impact of worldview on one's view and use of money. Money is universal and everyone has some form of currency or assets. However, the way money is used, whether it is saved, spent, or invested, is often determined by an individual's own concept of money. Additionally, relationships between people are often chosen or influenced by an individual's worldview. Human beings are seen differently …

Exploring Mechanisms Insurers Employ To Set Premiums And Maximize Profitability, Brent Ferenczy

Senior Honors Theses

The insurance industry is a very complex segment of the macroeconomy. An explain will be given as to how these companies are able to maintain and maximize their profits, allowing them to remain in business. A key area in this process is the setting of premiums. This activity draws from many areas of the business model. This paper will start with a birds-eye view and telescope in, starting with standard business practices and ending with specific undertakings of insurance companies. Companies must keep adequate liquid funds. This is done mainly through forecasting cash outflows and investing their assets under management. …

Third Party Moral Hazard And The Problem Of Insurance Externalities, Gideon Parchomovsky, Peter Siegelman

All Faculty Scholarship

Insurance can lead to loss or claim-creation not just by insureds themselves, but also by uninsured third parties. These externalities—which we term “third party moral hazard”—arise because insurance creates opportunities both to extract rents and to recover for otherwise unrecoverable losses. Using examples from health, automobile, kidnap, and liability insurance, we demonstrate that the phenomenon is widespread and important, and that the downsides of insurance are greater than previously believed. We explain the economic, social and psychological reasons for this phenomenon, and propose policy responses. Contract-based methods that are traditionally used to control first-party moral hazard can be welfare-reducing in …

Module 3: Technology Foresight And Insurtech, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 3 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Insurtech And Distribution, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Questions regarding InsurTech and distribution.

Module 1: Introduction To Technology Foresight, Risk Management, And Insurtech, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 1 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Module 2: Case Studies Of Ai And Insurtech, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 2 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Introduction To The Course, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

This PDF document describes the course, Developing Technology Foresight: Case Study of AI in InsurTech, and includes learning outcomes and a course outline.

Insurtech And Underwriting, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Questions regarding InsurTech and underwriting work.

Insurtech And Actuarial, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Questions regarding InsurTech and actuarial work.

Insurtech And Claims, Michael Mcshane, C. Ariel Pinto, Hesamoddin Tahami, Hengameh Fakhravar

Developing Technology Foresight: Case Study of AI in InsurTech

Questions related to InsurTech and claims.

Insurance Reserve Prediction: Opportunities And Challenges, Ayman Taha Farahat, Bernard Cosgrave Dr., Wael Rashwan, Susan Mckeever Dr.

Conference papers

Predicting claims’ reserve is a critical challenge for insurers and has dramatic consequences on their managerial, financial and underwriting decisions. The insurers’ capital and their underwriting capacity of further business are impacted by inaccurate reserve estimates. Increasing premium rates and adjusting the underwriting policy decisions may balance the impact of unexpected claims, but will have a negative impact on their business opportunities. To address this, several papers focusing on the prediction of insurance reserve have been published in the literature. In this paper, we provide a comprehensive review of the research on the insurance reserve prediction techniques in economics and …

The Impact Of Covid-19 On Hospital Admissions For Twelve High-Burden Diseases And Five Common Procedures In The Philippines: A National Health Insurance Database Study 2019-2020, Jhanna Uy, Vanessa T. Siy Van, Valerie Gilbert T. Ulep, Diana Beatriz Bayani, Damian Walker

Health Sciences Faculty Publications

Background

The Philippines has the highest cumulative COVID-19 cases and deaths in the Western-Pacific. To explore the broader health impacts of the pandemic, we assessed the magnitude and duration of changes in hospital admissions for 12 high-burden diseases and the utilization of five common procedures by lockdown stringency, hospital level, and equity in patient access.

Methods

Our analysis used Philippine social health insurance data filed by 1,295 hospitals in 2019 and 2020. We calculated three descriptive statistics of percent change comparing 2020 to the same periods in 2019: (1) year-onyear, (2) same-month-prior-year, and (3) lockdown periods.

Findings

Disease admissions declined …

Financing Mechanisms Applied For Successful Universal Health Coverage In Malaysia, Thailand And Singapore - Lessons For Pakistan, Rawshan Jabeen, Unaib Rabbani, Nazish Abbas

Community Health Sciences

Universal health coverage is a global agenda and, currently for Pakistan, achieving this goal is a challenge because of a number of constraints. The current narrative review was planned to describe an overview of the provision of health insurance in Malaysia, Thailand and Singapore that have achieved universal health coverage, and to propose a roadmap for Pakistan. Literature search was conducted on Google Scholar and PubMed databases as well as on the World Bank website to retrieve relevant articles. The three studied countries achieved universal health coverage by gradually increasing allocation for health and through various mechanisms, such as health …

Financial Risk Protection For Neurosurgical Care In Indonesia And The Philippines: A Primer On Health Financing For The Global Neurosurgeon, Kevin Paul Ferraris, Maria Eufemia C. Yap, Maria Cristina G. Bautista, Dewa Putu Wisnu Wardhana, Sri Maliawan, I Made Ady Wirawan, Rohadi Muhammad Rosyidi, Kenny Seng, Joseph Erroll Navarro

Graduate School of Business Publications

Which conditions treated by neurosurgeons cause the worst economic hardship in low middle-income in countries? How can public health financing be responsive to the inequities in the delivery of neurosurgical care? This review article frames the objectives of equity; quality; and efficiency in health financing to the goals of global neurosurgery. In order to glean provider perspectives on the affordability of neurosurgical care in low-resource settings; we did a survey of neurosurgeons from Indonesia and the Philippines and identified that the care of socioeconomically disadvantaged patients with malignant intracranial tumors were found to incur the highest out-of-pocket expenses. Additionally; the …

B Corps’ Social Media Communications During The Covid-19 Pandemic: Through The Lens Of The Triple Bottom Line, Manveer Mann, Sang-Eun Byun, Whitney Ginder

Department of Marketing Faculty Scholarship and Creative Works

The COVID-19 pandemic and rising demand for transparency has heightened the importance of sustainability communications on social media to generate deeper stakeholder engagement. Although B Corporations (B Corps), businesses committed to the triple bottom line (TBL), could serve as a catalyst for sustainable development, little is known about how they communicate on social media during a crisis. Therefore, we examined social media communications of B Corps to (1) identify salient topics and themes, (2) analyze how these themes align with the TBL, and (3) evaluate social media performance against industry benchmarks. We focused on the apparel, footwear, and accessories (AFA) …

Business-Insurance Pac Minutes May 11,2021, Meghan Jennings

PAC Minutes

No abstract provided.

Insurance And Risk Management Pac Minutes- May 11,2021, Meghan Jennings

PAC Minutes

No abstract provided.