ARIA Annual Meeting Program Schedule
Washington D.C. August 6-9, 2006
Sunday, August 6
8:00 AM - 3:30 PM Board of Directors’ Meeting
4:00 PM - 7:00 PM Registration Desk Open
5:00 PM - 5:30 PM First Time Participants’ Reception
5:30 PM - 7:00 PM Reception
Monday, August 7
7:30 AM - 5:00 PM Registration Desk Open
7:45 AM - 8:30 AM Breakfast
8:45 AM - 10:15 AM Plenary
Plenary Organizer: Mark Pauly, University of Pennsylvania
Title: Health Insurance Tax Neutrality, Health Savings Accounts, and Middle Class Cost Containment
Speakers: Bob Helms, American Enterprise Institute and formerly Assistant Secretary of DHHS
Tom Miller, Chief Economic Counsel to the Joint Economic Committee
Len Nichols, New America Foundation and former health staffer at the Council of Economic Advisors for the Clinton Administration
10:15 AM -10:30 AM Coffee Break
10:30 AM -12:00 PM Concurrent Sessions
Concurrent Session I A: Adverse Selection
Moderator: Bill Ferguson, University of Louisiana at Lafayette
1. Testing for Information Asymmetries in the United Kingdom Market for Property-Liability Reinsurance
Michael B. Adams, University of Wales Swansea
Stephen R. Diacon, University of Nottingham
Discussant: Youngkyun Park, Temple University
2. Separating Moral Hazard from Adverse Selection and Learning in Automobile Insurance: Longitudinal Evidence from France
Georges Dionne, HEC Montreal
Pierre-Carl Michaud, Rand Corporation
Maki Dahchour, Aviva Canada
Discussant: Stephen Diacon, Nottingham University Business School
3. Evidence for Adverse Selection in the Automobile Insurance Market
Rachel J. Huang, Ming Chuan University
Larry Y. Tzeng, National Taiwan University
Jennifer L. Wang, National Chengchi University
Kili C. Wang, Shih Chien University
Discussant: David Eckles, University of Georgia
4. Endogenous Information and Privacy in Automobile Insurance Markets
Lilia Filipova, Universitat Augsburg
Discussant: S. Hun Seog, KAIST
Concurrent Session I B: Organizational Form and Performance I
Moderator: Krupa Viswanathan, Temple University
1. The Economic Consequences of Voluntary Quality Certification Programs: The Case of the Insurance Marketplace Standards Association
Martin F. Grace, Georgia State University
Robert W. Klein, Georgia State University
Discussant: Patty Born, California State University-Northridge
2. Franchise Value, Competition, and Insurer Risk Taking
Yayuan Ren, University of Wisconsin-Madison
Discussant: Zhan Shen, Temple University
3. Ownership, Concentration and Outside Directors as Substitute Control Mechanisms: Evidence from the Property-Liability Insurance Industry
Enya He, University of Georgia
David W. Sommer, University of Georgia
Discussant: Cassandra Cole, Florida State University
4. The Relationship between Managerial Control and the Demutualization Process
Weili Lu, California State University-Fullerton
Xiaoying Xie, California State University-Fullerton
Joseph Reising, Minnesota State University-Mankato
Discussant: None
Concurrent Session I C: Health Insurance
Moderator: Yu Lei, University of Hartford
1. Severe Medical Conditions and Loss of Health Insurance Coverage: Evidence from the Health and Retirement Study
Samuel Hsin-yu Tseng, Centers for Disease Control and Prevention
Discussant: None
2. Age and Choice in Health Insurance: Evidence from Switzerland
Karolin Becker, University of Zurich
Peter Zweifel, University of Zurich
Discussant: Rahul Jain, State University of New York at Buffalo
3. Exiting the Health Insurance Market as a Rational Choice: Demand for Health Insurance in a Learning Model
Rahul Jain, State University of New York at Buffalo
Discussant: Samuel Hsin-yu Tseng, Centers for Disease Control and Prevention
4. Effects of Disability-Based Underwriting Prohibitions on the Labor Market
Ping Wang, St. John’s University
Discussant: Samuel, Hsin-Yu Tseng, Centers for Disease Control and Prevention
Concurrent Session I D: Solvency
Rob Hoyt, University of Georgia
1. The Solvency II Process: Overview and Critical Analysis
Martin Eling, University of St. Gallen
Hato Schmeiser, University of St. Gallen
Joan T. Schmit, University of Wisconsin-Madison
Discussant: Martina Eckardt, Witten/Herdecke University
2. The US Property and Liability Insurance Industry: Firm Size, Growth and Impact of Guaranty FundB. Paul Choi, Howard University
Discussant: Sharon Tennyson, Cornell University
3. Dynamic Financial Analysis in InsuranceYung-Ming Shiu, Tunghai University
Discussant: Rob Hoyt, University of Georgia
4. Measuring P&C Insurer Solvency: A North American Investigation
Anne E. Kleffner, University of Calgary
Ryan B. Lee, University of Calgary
Discussant: Jiang Cheng, Temple University
12:15 PM - 1:15 PM President’s Seminar & Luncheon
Keynote Speaker: Doug Hoffman, Principal, Operational Risk Advisors, LLC
1:30 PM - 3:00 PM Plenary
Plenary Organizer: Terri Vaughan, Drake University
Title: Current Developments in Regulatory Capital
Speakers: Philipp Keller, Swiss Federal Office of Private Insurance
Ian Tower, UK financial Services Authority
Kabir Dutta, Federal Reserve Bank of Boston
3:00 PM - 3:15 PM Coffee Break
3:15 PM - 4:45 PM Concurrent Sessions
Concurrent Session II A: Fraud (Organized Concurrent Session)
Moderator: Richard Derrig, OPAL Consulting
1. Comparison of Method and Software for Modeling Nonlinear Dependencies: A Fraud Application
Richard Derrig, OPAL Consulting LLC
Louise Francis, Francis Analytics and Data Mining
2. The Economics of Insurance Fraud Investigation: Evidence of a Nash Equilibrium
Stephen P. D’Arcy, University of Illinois
Richard A. Derrig, OPAL Consulting
Herbert I. Weisberg, Correlation Research Inc.
Comments by Dennis Jay, Executive Director, Coalition Against Insurance Fraud
David Rioux, Manager, Corporate Security and Investigative Services,
Erie Insurance
Concurrent Session II B: Insurance Economics I
Moderator: Patricia Born, California State Univeristy-Northridge
1. An Empirical Analysis of the Roles of Risk Aversion in the Automobile Insurance Market
Kuniyoshi Saito, Tokyo Institute of Technology
Discussant: Kili C. Wang, Shih Chien University
2. Insurance Markets with Differential Information
S. Hun Seog, KAIST
Discussant: Rachel Huang, Ming Chuan University
3. Interval Risk Aversion
Joseph G. Eisenhauer, Canisius College
Luigi Ventura, University of Rome
Discussant: Annette Hofmann, University of Hamburg
4. Value Creation through Insurance Company Spinoffs
Krupa S. Viswanathan, Temple University
Discussant: Larry Cox, University of Mississippi
Concurrent Session II C: Insurance Pricing
Moderator: Mary Kelly, Wilfrid Laurier University
1. The Pricing of Workers' Compensation Insurance: Effects on Safety and Market Performance
Michael M. Barth, Georgia Southern University
Robert W. Klein, Georgia State University
Gregory Krohm, International Assoc. of Accidents Boards and
Commissions
Discussant: Musheng Chang, Temple University
2. Driving With the Brakes On: Guido Calabresi's Failed 1970 Auto Insurance Case Against Safety-Device Mandates
Patrick Butler, National Organization for Women
Discussant: Karen James, Temple University
3. Analysis of Participating Life Insurance Contracts: A Unification Approach
Nadine Gatzert, Universitat St. Gallen
Alexander Kling, Institut fur Finanz- und Aktuarwissenschaften, Ulm
Discussant: None
Concurrent Session II D: Catastrophic Risk
Moderator: Martin Eling, University of St. Gallen
1. Catastrophe Risk Financing with Unreliable Insurance
Victor Cardenas, Ministry of Finance and Public Credit, Mexico
Olivier Mahul, World Bank
Discussant: Harris Schlesinger, University of Alabama
2. Terrorism Risk Sharing: Lessons from Germany
Christian Thomann, University of Hannover
J. Mathias Graf von der Schulenburg, University of Hannover
Discussant: Thomas Berry Stolzle, University of Cologne
3. Modeling the Cumulative Cases and Deaths from SARS
Renbao Chen, National University of Singapore
Discussant: Thomas Post, Humboldt-Universitaet zu Berlin
5:00 PM - 6:00 PM ARIA Business Meeting
6:00 PM - 7:00 PM Reception
Tuesday, August 8
7:30 AM - 4:00 PM Registration Desk Open
7:45 AM - 8:30 AM Breakfast
8:45 AM - 10:15 AM Concurrent Sessions
Concurrent Session III A: Social Insurance
Moderator: S. Hun Seog, KAIST
1. Can Social Welfare Explain the Non-participation Puzzle in Asset Markets?
Fangyi Jin, University of Konstanz
Discussant: Weili Lu, University of California-Fullerton
2. Do Extensive Government Social Programs Reduce Liability Costs?
Dana Kerr, St. Mary’s University
Yu-Luen Ma, Illinois State University
Joan T. Schmit, University of Wisconsin-Madison
Discussant: Fangyi Jin, University of Konstanz
3. Social Security -- Adequacy versus Sustainability
David Richardson, Georgia State University
Jason Seligman, University of Georgia
Discussant: Joseph Eisenhauer, Canisius College
4. Health, Wealth & Workforce Exit: Disability Insurance & Individual Accounts
Jason S. Seligman, University of Georgia
Discussant: Ping Wang, St. Johns University
Concurrent Session III B: Actuarial Science
Moderator: Etti Baranoff, Virginia Commonwealth University
1. Underwriting Cycle and Ruin Probability
Bruce Jones, University of Western Ontario
Jiandong Ren, University of Western Ontario
Discussant: Martin Eling, University of St. Gallen
2. Fair Valuation of Participating Policies in Stochastic Interest Rate Models: Two- dimensional Cox-Ross-Rubinstein Approaches
Szu-Lang Liao, Chengchi University
Chi-Kai Chang, Feng Chia University
Shih-Kuei Lin, National University of Kaohsiung
Discussant: Jing Ai, University of Texas at Austin
3. Insurance as a Giffen Good under a Bonus-Malus System and its Effect on Adverse Selection
Shinichi Kamiya, University of Wisconsin-Madison
Discussant: Lilia Filipova, University of Augsburg
4. A Comparison of Actuarial Financial Scenario Generators
Kevin C. Ahlgrim, Illinois State University
Stephen P. D’Arcy, University of Illinois at Urbana-Champaign
Richard W. Gorvett, University of Illinois at Urbana-Champaign
Discussant: Christian Thomann, Institute of Insurance Economics Universitat Hannover
Concurrent Session III C: Insurance Economics II
Moderator: Lars Powell, University of Arkansas, Little Rock
1. The Securitization of Surplus Notes by Property-Casualty Insurers: Empirical Evidence
Tao Zhang, Ernst & Young LLP
Larry A. Cox, University of Mississippi
Discussant: David Sommer, University of Georgia
2. Which Firm Gets Burned?
Kili C. Wang, National Taiwan University
Larry Y. Tzeng, National Taiwan University
Rachel J. Huang, Ming Chuan University
Discussant: Tong Yu, University of Rhode Island
3. The Effects of Taxation on Canadian Property & Casualty Insurers and Government Tax Revenue
Li Zhang, University of Calgary
Norma Nielson, University of Calgary
Discussant: Yu Lei, University of Hartford
4. Implementing Management Rules in Dynamic Financial Analysis
Martin Eling, University of St. Gallen
Thomas Parnitzke, University of St. Gallen
Hato Schmeiser, University of St. Gallen
Discussant: Yung-Ming Shiu, Tunghai University
Concurrent Session III D: Economics of Uncertainty
Moderator: Andre Liebenberg, University of Mississippi
1. On the Utility Premium of Friedman and Savage
Louis Eeckhoudt, Catholic University of Mons and CORE
Harris Schlesinger, University of Alabama
Discussant: None
2. Negligence, Ignorance, and Liability Insurance
Vickie Bajtelsmit, Colorado State University
Paul Thistle, University of Nevada Las Vegas
Discussant: Nobuko Aoba, Naruto University of Education
3. Colonel Blotto in the War on Terror: Implications for Event Frequency
Michael R. Powers, Temple University
Zhan Shen, Temple University
Discussant: None
4. Background Risk and the Demand for Insurance
Wenna Fei, University of Alabama
Harris Schlesinger, University of Alabama
Discussant: Wen-chang Lin, National Chung Cheng University
10:15AM - 10:30 AM Coffee Break
10:30 AM - 12:00 PM Plenary
Plenary Organizer: Jeff Brown, University of Illinois
Title: The Future of Social Security, Medicare, and Medicaid: Is U.S.
Entitlement Spending Sustainable?
Speakers: Katherine Baicker, Member, President’s Council of Economic
Advisers:Douglas Holtz-Eakin, Head of Economic Program for the Council
on Foreign Relations and Past Director of the
Congressional Budget Office
Advisor: Peter Orszag, Brookings Institution and former Clinton Economic
12:15 PM - 2:00 PM Awards Luncheon
2:15 PM - 3:45 PM Concurrent Sessions
Concurrent Session IV A: Organizational Form and Performance II
Moderator: Sharon Tennyson, Cornell University
1. The Quality of Insurance Intermediary Services -- An Analysis of Conduct and Performance in the German Market of Insurance Intermediation
Martina Eckardt, Witten/Herdecke University
Discussant: Laureen Regan, Temple University
2. Intermediation, Compensation and Tacit Collusion in Insurance Markets
Uwe Focht, University of Hamburg
Andreas Richter, Ludwig-Maximilians University
Jorg Schiller, WHU-Otto Beisheim School of Management
Discussant: Shuo Qiu, Temple University
3. Company Type and Loss Reserve Development of Medical Malpractice Insurers: Evidence from 1996 to 2002Yu Lei, University of Hartford
Joan Schmit, University of Wisconsin-Madison
Discussant: Ty Leverty, University of Iowa
4. In Search of Greener Pastures: An Examination of Insurance Company Redomestications
Michael J. McNamara, Washington State University
Stephen W. Pruitt, University of Missouri-Kansas City
Discussant: Enya He, University of Georgia
Concurrent Session IV B: Behavioral Economics
Moderator: David Eckles, University of Georgia
1. Noise Hedging and Executive Compensation
Neil A. Doherty, University of Pennsylvania
James R. Garven, Baylor University
Sven Sinclair, Congressional Budget Office
Discussant: Martin Boyer, HEC Montreal, Universite de Montreal
2. Underwriting Cycles and Underwriter Sentiment
M. Martin Boyer, HEC Montreal
Discussant: Jim Garven, Baylor University
3. The Determinants of Switching Insurers When Search Costs are Low: The Internet
Automobile Insurance Market in Korea
Yeon Hur, Chung-Ang University
Laureen Regan, Temple University
Discussant: Lan Ju, University of Wisconsin-Madison
Concurrent Session IV C: Financial Services Consolidation
Moderator: Martin Halek, University of Georgia
1. Market Concentration, Vertical Integration and Bancassurance: Consolidation and the "Insurance Middleman"
David Cummins, University of Pennsylvania
Mary A. Weiss, Temple University
Xiaoying Xie, University of California-Fullerton
Discussant: Krupa Viswanathan, Temple University
Yuan Yuan, Georgia State University
Discussant: Randy Dumm, University of Georgia
3. Capital Allocation and the Price of Insurance: Evidence from the Merger and Acquisition Activity in the U.S. Property-Liability Insurance Industry
Jeungbo Shim, Georgia State University
Discussant: Yayuan Ren, University of Wisconsin-Madison
Concurrent Session IV D: Pensions
Moderator: Ryan Lee, University of Calgary
1. The Inattentive Participant: Portfolio Trading Behavior in 401(k) Plans
Olivia S. Mitchell, University of Pennsylvania
Gary R. Mottola, Vanguard Center for Retirement Research
Stephen P. Utkus, Vanguard Center for Retirement Research
Takeshi Yamaguchi, University of Pennsylvania
Discussant: Jason Seligman, University of Georgia
2. The Adequacy of the Central Provident Fund in Meeting Post-Retirement Consumption Expenditure Across Age and Income Groups
Renbao Chen, National University of Singapore
Bibi Jean Christophe Nicolas, National University of Singapore
Discussant: Ryan Lee, University of Calgary
3. Transferring the Sticky: Individual Annuity Demand and Demographic Risk
Roman N. Schulze, Humboldt-Universitat zu Berlin
Thomas Post, Humboldt-Universitat zu Berlin
Helmut Grundl, Humboldt-Universitat zu Berlin
Discussant: Renbao Chen, National University of Singapore
4. Envy and Portfolio Allocation in Defined Contribution Pension Plans
Jacqueline M. Volkman, University of Pennsylvania
Discussant: Youngkyun Park, Temple University
3:45 PM - 4:00 PM Coffee Break
4:00 PM - 5:30 PM Concurrent Sessions
Concurrent Session V A: Property-Casualty Insurance
Moderator: Patrick Butler, National Organization for Women
1. Asset Allocation and Consumption Rules in the Presence of Background Risk and Insurance Market
Jin-Ruey Lu, National Don Hwa University
Wen-chang Lin, National Chung Cheng University
Discussant: Jacqueline Volkman, University of Pennsylvania
2. Internalizing Externalities of Loss Prevention through Insurance Monopoly: An Analysis of Interdependent Risks
Annette Hofmann, University of Hamburg
Discussant: Shih-Kuei Lin, National University of Kaohsiung
3. Do Agents Add Value to the Insurance Transaction: A Market-Game Approach
Jiang Cheng, Temple University
Michael R. Powers, Temple University
Discussant: Kuniyoshi Saito, Tokyo Institute of Technology
4. Title Insurance: A Decade of Growth
Randy E. Dumm, Florida State University
David A. Macpherson, Florida State University
G. Stacy Sirmans, Florida State University
Discussant: Yuan Yuan, Georgia State University
Concurrent Session V B: Insurance Finance
Moderator: Patty Born, California State University-Northridge
1. Securitization of Catastrophe Mortality Risks
Yijia Lin, Georgia State University
Samuel H. Cox, Georgia State University
Discussant: Nadine Gatzert, University of St. Gallen
2. Maturity and Sectorial Portfolio Diversification for a Vulnerable Risk Averse Guarantor
Van Son Lai, Laval University
Issouf Soumare, Laval University
Discussant: Jiandong Ren, University of Western Ontario
3. How Does Background Risk Affect Investment Risk-taking: Evidence from Insurers' Corporate Bond Portfolios
Xuanjuan Chen, University of North Carolina
Tong Yao, University of Arizona
Tong Yu, University of Rhode Island
Discussant: None
4. Investor Risk and Reward From Commonalities of Funds Within a Mutual Fund Family
Youngkyun Park, Temple University
Discussant: Issouf Soumare, Laval University
Concurrent Session V C: Enterprise Risk Management
Moderator: Robert Klein, Georgia State University
1. The Value of Enterprise Risk Management: Evidence from the U.S. Insurance Industry
Robert E. Hoyt, University of Georgia
Andre P. Liebenberg, University of Mississippi
Discussant: Anne Kleffner, University of Calgary
2. An Empirical Map of Enterprise Risk Space for Life Insurers: Implications for ERM
Etti G. Baranoff, Virginia Commonwealth University
Thomas W. Sager, University of Texas at Austin
Discussant: Kevin Ahlgrim, Illinois State University
3. Corporate Demand for Interest Rate Derivatives in Australia
Luiz Augusto Carneiro, University of New South Wales
Michael Sherris, University of New South Wales
Discussant: Hyejin Park, Temple University
Concurrent Session V D: Efficiency
Moderator: Marty Grace, Georgia State University
1.Efficiency Changes Around U.S. Life Insurer Demutualizations
Otgontsetseg Erhemjamts, Bentley College
J. Tyler Leverty, University of Iowa
Discussant: Andre Liebenberg, University of Mississippi
2. Efficiency in the Japanese Life Insurance Industry: Dramatic Change
Nobuko Aoba, Naruto University of Education
Discussant: Steven W. Pottier, University of Georgia
3. Financial Strength, Capital and Efficiency in the Property-Liability Insurance Industry
David L. Eckles, University of Georgia
Steven W. Pottier, Universityof Georgia
Discussant: B. Paul Choi, Howard University
4. Demutualization and Efficiency Performance Changes: Evidence from the U.S. Property-Liability Insurance Industry
Gene C. Lai, Washington State University
Jennifer L. Wang, National Chengchi University
Lih-Ru Chen, National Chengchi University
Discussant: None
Wednesday, August 9
7:30 AM - 10:30 AM Registration Desk Open
7:45 AM - 8:30 AM Breakfast
8:45 AM - 9:30 AM Semi-Plenaries
Semi-Plenary I – Strickler Award Presentation
Title: The Problem of Asymmetric Information: A Simulation of How Insurance
Markets Can Be Inefficient
Award Winners: Martin Halek, University of Georgia
David Eckles, University of Georgia
Semi-Plenary II – Grant Writing Workshop
Speakers: Vickie Bajtelsmit, Colorado State University
Norma Nielson, University of Calgary
Julie Fesenmaier, Cochran Research Center, Temple University
9:30 AM -10:15 AM Plenary
Plenary Organizer: Bill Rabel, University of Alabama
Title: Life Insurance Marketing Problems and Potential Solutions
Speakers: Michael Kerley, National Association of Insurance and Financial
Advisors (NAIFA)
Andrew F. Giffin, JD, Principal, Tillinghast
10:15 AM -10:30 AM Coffee Break
10:30 AM -12:00 PM Concurrent Sessions
Concurrent Session VI A: Pricing and Uncertainty
Moderator: Jim Garven, Baylor University
1. Driver Negligence vs. Odometer Miles: Rival Theories to Explain 12 Claim Frequency Predictors Used Selectively by Automobile Insurers
Patrick Butler, National Organization for Women
Discussant: Richard Derrig, OPAL Consulting
2. Pricing Longevity Bonds using Implied Survival Probabilities
Daniel Bauer, Ulm University
Jochen Russ, Institut fur Finanz- und Aktuarwissenschaften, Ulm
Discussant: Li Zhang, University of Calgary
3. Paid-Up and Resumption Options in Participating Life Insurance Contracts: Assessing the Worst Case
Nadine Gatzert, University of St. Gallen
Hato Schmeiser, University of St. Gallen
Discussant: Daniel Bauer, Ulm University
Concurrent Session VI B: Tort Reform and Legal Rules
Moderator: Laureen Regan, TempleUniversity
1. A Trending Approach to Measuring Effects of Civil Justice Reform Legislation: Evidence from Medical Malpractice InsuranceRobert E. Hoyt, University of Georgia
Lawrence S. Powell, University of Arkansas, Little Rock
Discussant: None
2. An Analysis of the Determinants and Implication of the Selection of the Full Versus Limited Tort Automobile Insurance Coverage in New Jersey and Pennsylvania
Karen A. James, Temple University
Discussant: Patrick Butler, National Organization for Women
Concurrent Session VI C: Regulation
Stephen Diacon, Nottingham University
1. Regulation of Reinsurance Recoverables: Protection or Protectionism
Cassandra Cole, Florida State University
Kathleen McCullough, Florida State University
Lars Powell, University of Arkansas, Little Rock
Discussant: Robert Klein, Georgia State University
2. Deregulation and Reserving in the German Property-Liability Insurance Industry
Thomas Berry-Stolzle, University of Cologne
Patricia Born, California State University-Northridge
Discussant: Kathleen McCullough, Florida State University
3. Benefits of Multi-Jurisdiction Regulation of the Life Insurance Industry: Fact or Fiction?
Michael K. McShane, University of Mississippi
Larry A. Cox, University of Mississippi
Discussant: Lars Powell, University of Arkansas, Little Rock
4. Capital Holdings of Canadian Property/Casualty InsurersPeter Carayannopoulos, Wilfrid Laurier University
Mary Kelly, Wilfrid Laurier University
Discussant: Etti Baranoff, Virginia Commonwealth University
Concurrent Session VI D: Property-Casualty Insurance II
Moderator: Anne Kleffner, University of Calgar
1. Building Codes and Hazard Risk: An Analysis of Residual Property Damage and Hurricane Activity
Carolyn Dehring, University of Georgia
Martin Halek, University of Georgia
Discussant: Luiz Augusto Carneiro, University of New South Wales
2. Interest Rate Risk of Property/Liability Insurers
Jin Park, Illinois Wesleyan University
Discussant: Jim Carson, Florida State University
3. Market Risk, Interest Rate Sensitivity, and Interdependency in Insurer Stock Returns
James M. Carson, Florida State University
Elyas Elyasiani, Temple University
Iqbal Mansur, Widener University
Discussant: Jin Park, Illinois Wesleyan University
4. Reserve Errors and the Insurer Decision to Make Contingency Fee Contracts with Brokers in the Property and Casualty Insurance Industry
Lan Ju, University of Wisconsin-Madison
Mark J. Browne, University of Wisconsin-Madison
Discussant: Kathleen McCullough, Florida State University
12:00 PM - 1:30 PM Ending Board Meeting
