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2004 Annual Meeting

Meeting Location: Chicago, IL

9:00 am - 3:00 pm Opening Board Meeting
1:00 - 5:00 pm Registration and Check In
5:00-6:00 pm Reception for First Time Attendees
6:00 - 7:00 pm Welcome Reception
7:30 - 8:30 am Breakfast
8:00 am - 5:00 pm Registration

8:45 am - 10:15 am Plenary Session 1: "The Major Challenges Confronting Top Managers in the Commercial Insurance Industry"
Moderator: Mark Browne, University of Wisconsin
1. Steve Grabek, Regional Vice President, American International Group
2. Bob Young, Senior Vice President, General Re Corporation
3. Phil Norton, President - Professional Liability Division, Arthur J. Gallagher & Company
10:15 - 10:30 am Break

10:30 am - 12:00 pm Select Papers and Concurrent Sessions 1
Select Papers Session 1
Moderator: Richard Butler, Brigham Young University
1. "The Effects of Gender and Age on Claims Payment"
      Helen Doerpinghaus -University of South Carolina - doerp@moore.sc.edu
      Joan Schmit - University of Wisconsin-Madison - jschmit@bus.wisc.edu
      Jason Jia-Hsing Yeh - The Chinese University of Hong Kong - jasonyeh@baf.msmail.cuhk.edu.hk 

2. "Optimal Auditing for Insurance Fraud"
      Georges Dionne- HEC Montréal - georges.dionne@hec.ca
      Florence Giuliano - Université de Paris X-Nanterre
      Pierre Picard - Université de Paris X-Nanterre
Concurrent Session 1A: Risk Aversion and Adverse Selection Issues
Moderator: James Carson, Florida State University
1. "Do We Drive More Safely When Accidents Are More Expensive? Identifying Moral Hazard from Experience Rating Schemes"
      Mark Israel - Northwestern University - m-israel@kellogg.northwestern.edu

2. "How Per-Car Premiums Induce Adverse Selection and Foster the ‘High-Risk-Driver’ Myth"
      Patrick Butler - National Organization for Women - info@centspermilenow.org

3. "Keeping Up with the Joneses When the Joneses Cannot Share Risk"
      Bui Minh Phuong - University Toulouse - ibuimphunong@yahoo.com

4. "Asymmetric Information and the Coexistence of Stock and Mutual Insurance Companies"
      James A. Ligon - University of Alabama - jligon@cba.ua.edu
      Paul D. Thistle - University of Nevada Las Vegas - pthistle@ccmail.nevada.edu

Concurrent Session 1B: Issues in Capital Markets
Moderator: Gene Lai, Washington State University
1. "A Stochastic Evaluation of Pension Obligation Bonds"
      Kevin Ahlgrim - Illinois State University - jkahlgrim@ilstu.edu
      Stephen P. D’Arcy - University of Illinois - s-darcy@uiuc.edu

2. "Indexing Catastrophe Securities"
      S. Hun Seog, - KAIST - seogsh@kgsm.kaist.ac.kr
      Jangkoo Kang - KAIST

3. "Determining Market Values of Individual U. S. Life Insurers By Matching Method and Multiple Imputation"
      Liyan Zhao - The University of Texas at Austin - Liyan.Zhao@phd.mccombsutexas.edu
      Thomas W. Sager - The University of Texas at Austin
      Etti G. Baranoff - Virginia Commonwealth University

4. "Beta Consistency and Its Relation to Market and Economic Cycle: Evidence from Tests in the P/L Industry"
      Karen A. James - Temple University
      Norris L. Larrymore - Quinnipiac University - norris.larrymore@quinnipiac.edu
Concurrent Session 1C: Demand and Pricing Issues
Moderator: Vickie Bajtelsmit, Colorado State University
1. "Household Life Cycle Protection : Life Insurance Holdings, Financial Vulnerability and Investments"
      Yijia Lin -,Georgia State University - insyllx@langate.gsu.edu
      Martin F. Grace - Georgia State University - mgrace@gsu.edu

2. "Retirement Plan Features and Participant Choices"
      Tongxuan Yang -University of Pennsylvania - tongxuan@wharton.upenn.edu

3. "Insurance Consumption of Central and Eastern European Countries in Transition"
      Mark Dorfman - University of North Carolina - Charlotte - mdorfman@emai.uncc.edu
      Martin Halek - University of Georgia - mhalek@uga.edu
      Chuck Nyce - University of Georgia - cnyce@uga.edu

4. "Transferable Ageing Provisions in Individual Health Insurance Contracts"
      Florian Baumann - University of Mainz, Germany baumanf@uni-mainz.de
      Volker Meier - Ifo Institute for Economic Research and CESifo Munich Germany
      Martin Werding - Ifo Institute for Economic Research and CESifo Munich Germany
12:00pm - 1:30 pm President’s Seminar and Luncheon
      Speaker: Christopher Culp, University of Chicago Graduate School of Business
      "The ART of Risk Management"
1:45 - 3:15 pm Plenary Session 2: "Alternative Risk Financing"
Moderator: J. David Cummins, University of Pennsylvania
      Alex Cowley, Senior Vice President, Lehman Brothers
      William Dubinsky, Senior Vice President, Swiss Re Capital Markets Corp.
      Arthur Koritzinsky, Managing Director, Marsh USA Inc.
3:15 - 3:30 pm Break

3:30 - 5:00 pm Select Papers and Concurrent Sessions 2
Select Papers Session 2
Moderator: Sharon Tennyson, Cornell University
1. "Matching Contributions in Company Stock"
      Jeffrey R.Brown - University of Illinois and NBER - brownjr@uiuc.edu
      Nellie Liang - Board of Governors of the Federal Reserve System
      Scott Weisbenner - University of Illinois and NBER

2. "Prudent Man or Agency Problem? On the Performance of Insurance Mutual Funds"
      Xuanjuan Chen -University of Rhode Island - xche9111@postoffice.uri.edu
      Tong Yao - University of Arizona -tyao@eller.arizona.edu
      Tong Yu - University of Rhode Island - tongyu@uri.edu
Concurrent Session 2A: Asset Allocation and Reinsurance Issues
Moderator: Karen Epermanis, The University of Mississippi
1. "Life Insurers’ Asset Allocation Dynamics and Performance"
      Etti G.Baranoff - Virginia Commonwealth University -ebaranof@vcu.edu
      Thomas W. Sager - The University of Texas at Austin

2. "Financial Constraints and Employers’ Matching Contributions with Company Stock in 401(k) Plans"
      Rakesh C. Bharati, - Southern Illinois University Edwardsville - rebharat@siue.edu
      Yanling Ge -Southern Illinois University Edwardsville -yge@siue.edu
3. "The Determinants of Real Estate Asset Allocations For Life Insurers"
      David H. Downs -Virginia Commonwealth University
      David W.Sommer - The University of Georgia - dsommer@terry.uga.edu

4. "Adverse Selection in Reinsurance Markets: Theoretical and Empirical Perspectives"
      James R. Garven - Baylor University - james_garven@baylor.edu
      Joan Lamm-Tennant - GeneralCologne Re Capital Consultants - jlammten@genre.com
Concurrent Session 2B: Issues in Capital Markets
Moderator: Ed Duett, Mississippi State University
1. "Corporate Debt Ratings and Pension Funding in Defined Benefit Plans Under Standard & Poor’s Adjusted Standards"
      Youngkyun Park - Temple University - youngpk@temple.edu

2. "Insurer Capital Structure, Risk Monitoring and Trust-Preferred Securities"
      Steven Pottier - University of Georgia - spottier@uga.edu

3. "The Effects of Dependence Structure on Portfolio Optimization"
      Yue Xu - University of Miami - yxu2@umsis.miami.edu

4. "Adverse Selection and the Opaqueness of Insurers"
      Tao Zhang - The University of Mississippi - tzhang@bus.olemiss.edu
      Larry A. Cox - The University of Mississippi - lcox@bus.olemiss.edu
      Robert A. Van Ness - The University of Mississippi

Concurrent Session 2C: Public Policy Issues
Moderator: Patricia Born, California State University-Northridge
1. "The Effects of Means-Testing Social Security Benefits on Retiree Income Security"
      Govind Hariharan - Kennesaw State University - Govind_Hariharan@coles2.kennesaw.edu
      David P. Richardson - Georgia State University - dprichardson@gsu.edu
      Mark Rider - Georgia State University - mrider@gsu.edu

2. "On the Escalating Medical Malpractice Insurance Premium Rates"
      Yu Lei - ylei@bus.wisc.edu
      Mark Browne- mbrowne@bus.wisc.edu

3.  "The Effect of Private Insurer Program to Control Prescription Drug Costs in a State Children’s Health Insurance Program"
      Ganther-Urmie -University of Iowa - julie-urmie@uiowa.edu
      John M. Brooks -University of Iowa

4. "The Effects of Defined Contribution Pensions on Retirement"
      David P. Richardson - Georgia State University - dprichardson@gsu.edu
      Wonku Hong - Georgia State University - inswhhx@langate.gsu.edu
5:00 - 5:45 p.m. Annual Business Meeting
6:00 - 7:00 p.m. Reception
7:30 - 8:30 am Breakfast
7:30 - 8:30 am Journal Editors’ Breakfast

8:45 - 10:15 am Plenary Session 3: "The Major Challenges Confronting Top Managers of Personal Lines Insurers"
Moderator: Helen Doerpinghaus, University of South Carolina
1. Stephanie Colgrove, Vice President Operations - Property & Casualty Underwriting, State Farm Insurance Companies
2. David Magers, Chief Financial Officer, Country Insurance and Financial Services
3. David Nadig, Assistant General Counsel, Allstate Insurance Company
10:15 - 10:30 am Break

10:30 - 12:00 pm Select Papers and Concurrent Sessions 3
Select Papers Session 3
Moderator: Georges Dionne, HEC Montreal
1. "Putting Risk in its Proper Place"
      Louis Eeckhoudt - Catholic University of Mons-Belgium - eeckhoud@fucam.ac.be
      Harris Schlesinger - University of Alabama - hschlesi@cba.ua.edu

2. "Solvency, Capital Allocation and Fair Rate of Return in Insurance"
      Michael Sherris - University of New South Wales - m.sherris@unsw.edu.au

Concurrent Session 3A: Claims and Fraud Issues
Moderator: Joan Schmit, University of Wisconsin
1.  "The Settlement Negotiation Process for Automobile Bodily Injury Liability Claims in the Presence of Suspicion of Fraud and Build-Up"
      Richard A. Derrig - OPAL Consulting LLC - richard@aib.org

2. "Insurer Information, Fraud, and Insurance-Contract Design"
      Qin Lian - University of Alabama - qlian@cba.ua.edu

3. "Brokers and the Insurance of Non-Verifiable Losses"
      Neil A. Doherty - University of Pennsylvania - doherty@wharton.upenn.edu
      Alexander Muermann - University of Pennsylvania - muermann@wharton.upenn.edu

4. "The Premium Inflation Effects on Policyholder Claim Reporting Decisions: Evidence from Automobile Accident Victims"
      Dana Kerr - St. Mary’s University - dkerr@stmarytx.edu
Concurrent Session 3B: Insurer Efficiency Issues
Moderator: Etti Baranoff, Virginia Commonwealth University
1. "Issues in Measuring the Efficiency of Property -Liability Insurers"
      Tyler Leverty - Georgia State University - insjtlx@langate.gsu.edu
      Martin Grace - Georgia State University - mgrace@gsu.edu

2. "An Examination of the Efficiency of Health Maintenance Organizations (HMOs)"
      Patricia Born - California State University-Northridge
      Vivian Jeng - National Chen-Chi University, Taiwan
      Michael J.McNamara - Washington State University - MJMcNam@wsu.edu

3. "Determinants of Efficiency In the Spanish Insurance Industry: Scale Economics, Diversification, and Distribution Channels"
      J. David Cummins - University of Pennsylvania - Cummins@wharton.upenn.edu
      Maria Rubio-Misas - University of Malaga - mrubiom@uma.es

4. "Keiretsu Affiliation and Non-Life Insurer Performance in the Japanese Market"
      Nat Pope - Bradley University - npope@bradley.edu
Concurrent Session 3C: Issues in Financial Planning and Retirement
Moderator: Jeffrey Brown, University of Illinois
1. "An Examination of the Impact of Fees Product Features, and Insurer Characteristics on Variable Annuity Performance"
      Randy E. Dumm - Florida State University - rdumm@cob.fsu.edu
      James M. Carson - Florida State University - jcarson@cob.fsu.edu
      L. Lee Colquitt - Auburn University - colquittt@business.auburn.edu

2. "Retirement Consumption Puzzle: Planning vs. Unexpected Consumption Fall"
      EnlinWang - Temple University - ewang001@temple.edu

3. "Intertemporal Stable Pension Funding"
      Jerry C. Y. Miao - Tamkang University
      Jennifer L. Wang - National Chengchi University - jenwang@nccu.edu.tw
      Larry Y. Tzeng - National Taiwan University

4. "Expected Utility Optimal (Self-) Annuitization in Families"
      Thomas Post - Humboldt-Universitat zu Berlin - tpost@wiwi.hu-berlin.de
      Helmut Grundl - Humboldt-Universitat zu Berlin - gruendl@wiwi.hu-berlin.de
      Hato Schmeiser - Universitat Munster - hato.schmeiser@wiwi.uni-muenster.de
12:15 - 2:00 pm Past President’s Luncheon

2:15 - 3:45 pm Select Papers and Concurrent Sessions 4; Strickler Award Presentation
Select Papers Session 4
Moderator: Stephen D’Arcy, University of Illinois
1. "Strategic Demand for Insurance"
      S. Hun Seog - KAIST - seogsh@kgsm.kaist.ac.kr

2. "Conquering New Insurance Markets After the EC Enlargement"
      Patrick F. E. Beschorner - Universität Würzburg- p.beschorner@mail.uni-wuerzburg.de
Concurrent Session 4A: Les B. Strickler Innovation in Instruction Award Presentation; Pedagogical Issues
      Moderator: William Rabel, Life Office Management Association
1. Special Presentation by the Strickler Award Winner: "Introducing Students to International Insurance Markets"
      Norma Nielson - University of Calgary - norma.nielson@haskayne.ucalgary.ca
      Anne Kleffner - University of Calgary - anne.kleffner@haskayne.ucalgary.ca
      Ryan Lee - University of Calgary - ryan.lee@haskayne.ucalgary.ca
2. "Delivery of Risk Management and Insurance 101 Course: A Survey of RMI Programs"
      J. Tim Query - Illinois Wesleyan University - tquery@iwu.edu
      Jin Park - Illinois Wesleyan University - jpark@iwu.edu
Concurrent Session 4B: Issues in Capital Markets
      Moderator: Martin Halek, University of Georgia
1. "The Wealth Effect of Demutualization: Evidence from U. S. Property Liability and Life Insurance Industries in the 1980s and 1990s"
      Gene C. Lai - Washington State University - genelai@wsu.edu
      Michael McNamara
      Tong Yu

2. "Value Creation in Acquisitions and Divestitures: Evidence from the US Property-Liability Insurance Industry"
      J. David Cummins - University of Pennsylvania - cummins@wharton.upenn.edu
      Xiaoying Xie - University of Pennsylvania - xiaoying@wharton.upenn.edu

3. "The Insolvency Put: An Asset of the Corporation?"
      Louise A. Francis - Francis Analytics & Actuarial Data Mining, Inc. - louise_francis@msn.com
      Philip E.Heckman - Heckman Actuarial Consultants, Ltd. - peheck@aol.com
      Donald F. Mango - GE ERC - don.mango@ercgroup.com
4. "Valuation Effects of Insurers Security Offering: The Evidence After September 11"
      Yuan Yuan - Georgia State University - insyyyx@langate.gsu.edu
Concurrent Session 4C: Risk Aversion, Adverse Selection, and Utility
      Moderator: Michael Powers, Temple University
1. "Asymmetric Information in Life Insurance: Evidence from a Two-Year Suicide Exclusion"
      Hsin-yu Tseng - University of Chicago - htseng@uchicago.edu

2. "Dread Disease and Fixed-Reimbursement Insurance"
      Larry Y. Tzeng - National Taiwan University - tzeng@ntu.edu.tw
      Rachel Jui-ching Huang - Ming Chuan University

3. "When Prices Hardly Matter: The Interaction between Insurance and Markets for Repair Goods"
      Martin Nell - University of Hamburg - martin.nell@rrz.uni-hamburg.de
      Andreas Richter -Illinois State University - arichter@ilstu.edu
      Jorg Schiller - University of Hamburg - schiller@econ.uni-hamburg.de

4. "Gender Wage Gap and The Cost of Providing Pension Benefits"
      David P. Richardson - Georgia State University
      Alfred C. Koffi-Sokpa - Georgia State University - insaksx@langate.gsu.edu
3:45 - 4:00 pm Break

4:00 - 5:30 pm Concurrent Sessions 5
Concurrent Session 5A: Regulation and Public Policy Issues
      Moderator: Richard Derrig, OPAL Consulting
1.  "Optimal Reinsurance Contract Structure and Some Comments on the Terrorism Risk Insurance Act"
      Leslaw Gajek - Warsaw University
      Krzysztof Ostaszewski - Illinois State University - krzysio@ilstu.edu
      Markus Schichter - Universitat Ulm
      Dariusz Zagrodny - Cardinal Stefan Wysznski University
      Hans-Joachim Zwiesler - Universitaet Ulm

2. "The Labor Market Effects of Underwriting Prohibitions in Health Insurance"
      Ping Wang - pwang4@wisc.edu

3. "The Pension Benefit Guaranty Corporation, Individual Exemptions, and Pension Plan Security"
      Cassandra R. Cole - Florida State University - ccole@cob.fsu.edu
      Kathleen A. McCullough - Florida State University - kmccullo@cob.fsu.edu

4. "The Value of Tort System Fairness: Evidence From Automobile Insurance"
      Robert E. Hoyt - University of Georgia - rhoyt@terry.uga.edu
      Lawrence S. Powell - University of Arkansas - lspowell@email.uncc.edu
Concurrent Session 5B: Insurance Pricing Issues
      Moderator: Harris Schlesinger, University of Alabama
1.  "A Bayesian Approach to Defining Insurance Contract Basis Risk"
      Dana A. Kerr - St. Mary’s University - dkerr@stmarytx.edu

2. "The Equitability of SARS Insurance Pricing: Evidence from Asia"
      Renbao Chen - National University of Singapore - bizchenr@nus.edu.sg
      Yong Hin Pung - National University of Singapore

3. "An Experimental Study of the Full Coverage Puzzle"
      Zur Shapira - New York University
      Itzhak Venezia - Hebrew University - msvenez@mscc.huji.ac.il

4. "Estimating Life Insurance Price and Income Elasticities in a Monopoly Market"
      Tapen Sinha - Instituto Technologico Autonomo de Mexico - tapen@itam.mx

Concurrent Session 5C: Insurer Management Issues

      Moderator: Michael McNamara, Washington State University
1. "International Insurers’ Choice of Distribution System in U. S. Property-Liability Insurance Markets"
      B. Paul Choi - Howard University - bchoi@howard.edu
      Ronaldo Parente - Salisbury University

2.  "Dividend Decisions in the Property & Liability Insurance Industry: Mutual versus Stock Companies"
      Mulong Wang - University of Rhode Island - wang@uri.edu
      Chuanhou Yang - University of Texas at Austin - yangch@mail.utexas.edu
      Minglai Zhu - Georgia State University - insmmzx@langate.gsu.edu
      Hong Zou - Cardiff University - zouh2@cf.ac.uk

3. "Geographic Diversity and Corporate Performance: An Analysis of Property-Liability Insurers"
      Yu-Luen Ma - Illinois State University - yma@ilstu.edu
      B. Elango - Illinois State University - elango@ilstu.edu

4. "Internet Use and Job Structure in the Insurance Industry"
      Richard Butler - Brigham Young University - richard-butler@byu.edu
      Lars Lefgren - Brigham Young University - l-lefren@byu.edu

Concurrent Session 5D: Innovations in Insurance Education
      Moderator: Mark Dorfman, University of North Carolina-Charlotte
1. "Expanding Insurance Offerings Using the Academy of Financial Services and Certified Financial Planning Board Model Financial Planning Curriculum"
      Vickie Bajtelsmit - Colorado State University
      Kathryn Ioannides - Certified Financial Planning Board - kioannides@CFP-Board.org

2. "Thinking Critically about Ethics in Risk Management and Insurance"
      F. Peter Dean - Indiana State University - fpdean@joink.com
      Mary Ann Boose - Indiana State University - isboose@isugw.indstate.edu

3. "Governance, Legislation, and Litigation: The Disney Response"
      Gail S. Russ - Illinois State University - gruss@ilstu.edu
      Meredith Downs - Illinois State University - mdowne@ilstu.edu
7:30 - 8:30 am Breakfast

8:45 - 10:15 am Concurrent Sessions 6
Concurrent Session 6A: Insurer Solvency Issues
      Moderator: David Eckles, Georgia Southern University
1. "Using Efficiency Analysis to Identify Problem Insurers"
      Mike Barth - Georgia Southern University - mbarth@georgiasouthern.edu
      David L. Eckles - Georgia Southern University - deckles@georgiasouthern.edu

2. "Altman’s Z Score and an Option-Based Credit Risk Measure"
      Bum J. Kim - The University of Minnesota Duluth - bkim@d.umn.edu

3. "Do Only the Good Die Young? An Examination of Management’s Impact on Property Liability Insurer Distress""
      Martin F. Grace - Georgia State University - mgrace@gsu.edu
      James Tyler Leverty - Georgia State University - insjtlx@langate.gsu.edu

4. "Empirical Evidence of the Use of Dynamic Solvency Testing and Financial Condition Reporting in the United Kingdom Life Insurance Industry"
      Yung-Ming Shiu - Tunghai University - yungming@mail.thu.edu.tw
      Peter Moles - University of Edinburgh, UK
      Chia-Chung Chan - Tunghai University
Concurrent Session 6B: Issues in Capital Markets and Market Structure
      Moderator: Larry Cox, The University of Mississippi
1. "Stock Market’s Response to Property & Casualty Insurers’ Discretionary Loss Reserving"
      Jie Gao - University of Wisconsin - jiegao@wisc.edu
      Yayuan Ren - University of Wisconsin - yren@wisc.edu
      Kofi Appiah Okyere - University of Wisconsin - appiahkofi@yahoo.com

2. "The Powers-Shubik "Square Root" Rule for Reinsurance: An Empirical Assessment"
      Iana B. Jucá - Temple University - iana.juca@temple.edu
      Michael R. Powers -Temple University - michael.powers@temple.edu

3. "A Study on Exit Forms and Firm Characteristics: The U. S. Property-Liability Insurance Market"
      Husoo Kim - SoonChunHyang University
      W. Jean Kwon -St. Johns University
      Soon-Jae Lee - Sejong University - sjlee@sejong.ac.kr

4. "Automobile Insurance Canada: An Analysis of Costs in No-Fault Versus Tort Provinces"
      Anne E. Kleffner - Haskayne School of Business - kleffner@ucalgary.ca
      Gilles Bernier - Laval University - gilles.bernier@fsu.ulaval.ca

Concurrent Session 6C: Regulatory and Taxation Issues
      Moderator: Robert Hoyt, University of Georgia
1. "The Nature of Regulation: The Japanese Auto Insurance Market"
      Nat Pope - Bradley University - npope@bradley.edu
      Yuluen Ma - Illinois State University - yma@ilstu.edu

2. "A Proposal For Modernizing U.S. Insurance Regulation Utilizing Some of the Key Components of the European Union’s Insurance Regulatory System"
      Robert W. Cooper - Drake University - robert.cooper@drake.edu
      Mark S. Dorfman The University of North Carolina at Charlotte

3. "How Corporate Government Structure Affects the Performance of Insurance Companies"
      Jennifer L. Wang - National Chengchi University - jenwang@nccu.edu.tw
      Vivian Jeng - National Chengchi University
      Jin Lung Peng - Shih Chien University

4. "Deterrence, Compensation and Claims Adjustment: A Comparison of No-Fault and Tort Property Damage Schemes in Canada"
      Peter Carayannopoulos - Wilfrid Laurier University - pcaray@wlu.ca
      Mary Kelly - Wilfrid Laurier University -mkelly@wlu.ca
      Maureen Tomlinson- Wilfrid Laurier University - mtrdrafing@rogers.com
Concurrent Session 6D: Issues in Risk Management and Investment
      Moderator: Tim Query, Illinois Wesleyan University
1.  "Insurance Coverage and the Second Best Insurance Contract in an Incomplete Market"
      Nguema Jean Fernand - Université Montpellier - ngueman@wanadoo.fr

2. "The Use of Hedge Funds in the Insurance Industry"
      Edwin H. Duett - Mississippi State University - eduett@cobilan.msstate.edu
      Magdy Noguera

3. "Hospital Pension and Insurance Investments"
      Dean G. Smith - University of Michigan - deans@umich.edu

4. "The Real Survivors: Risk Management Issues Facing Women Entrepreneurs"
      Sammie Robinson - Illinois Wesleyan University - srobinso@iwu.edu 
      Tim Query - Illinois Wesleyan University - tquery@titan.iwu.edu 
10:15 - 10:30 am Break

10:30 am - 12:00 pm Concurrent Sessions 7
Concurrent Session 7A: Public Policy Issues
      Moderator: Jennifer L. Wang, National Chengchi University
1. "Have Laws That Prohibit Gender Discrimination in Pension Plans Led to Adverse Selection in Pension Payout Choices by Male Pension Plan Members?"
      Ray A. Gilmore - University of Wisconsin-Madison - rgilmore@bus.wisc.edu 

2.  "Tort Reform and The Insurability of Punitive Damages"
      David S. Marvin - Illinois Wesleyan University - dmarvin@iwu.edu
      Tim Query - Illinois Wesleyan University - tquery@titan.iwu.edu 

3. "Market Failure in the Regulated Automobile Insurance Market: A Discrete-Time Markov Chain Model"
      Andreas Milidonis - Georgia State University - amilidonis1@gsu.edu

4. "The Importation of Foreign Origin Drugs to the U. S. Market: An Economic, Regulatory, and Strategic Analysis"
      Patricia H. Born - California State University, Northridge - patricia.born@csun.edu
      Ryan B. Lee - University of Calgary - ryan.lee@haskayne.ucalgary.ca

Concurrent Session 7B: Issues in Asset Allocation and Financial Planning
Moderator: David Richardson, Georgia State University
1. "Does an Optimal Allocation of Retirement Income Exist?"
      Conrad Ciccotello Georgia State University - cciccotello@gsu.edu
      David P. Richardson - Georgia State University - dprichardson@gsu.edu

2. "The Interaction of Guarantees, Surplus Distribution, and Asset Allocation in With-Profit Life Insurance Policies"
      Alexander Kling - University of Ulm - ralkli@mathematik.uni-ulm.de
      Andreas Richter - Illinois State University - arichter@ilstu.edu
      Jochen Russ - Institut für Finanz- und Aktuarwissenschaften - j.russ@ifa-ulm.de

3.  "Using Efficiency Analysis to Identify Problem Insurers"
      David L. Eckles - Georgia Southern University - deckles@georgiasouthern.edu
      William H. Wells - Georgia Southern University - wwells@georgiasouthern.edu

4. "Modeling the Interest and Mortality Tradeoffs Affecting Annuity Payouts"
      Richard B. Corbett - Florida State University - rcorbet@cob.fsu.edu 
Concurrent Session 7C: Issues in Underwriting, Risk Aversion and Adverse Selection
      Moderator: James Garven, Baylor University
1. "Breaks in Asian Underwriting Cycles: A Possible Explanation for Inconsistencies?"
      Renbao Chen - National University of Singapore - bizchenr@nus.edu.sg
      Wei Yang Chia - National University of Singapore

2. "Characteristics of Insurance Fraud-Perceptions of Fraud Control Experts and Laypersons"
      Michael Theil - University of Economics and Business Administration Vienna - theil@wu-wien.ac.at

3. "Smoking Behavior and Rank Dependent Expected-Utility"
      Christophe Courbage The Geneva Association - christophe-courbage@genevaassociation.org

4. "Risk Aversion and Prudence in the Large"
      Joseph G.Eisenhauer - Canisius College - eisenhaj@canisius.edu
Concurrent Session 7D: Insurer Solvency and Performance Issues
      Moderator: Mary Weiss, Temple University
1. "Do Credit Rating Agencies Follow an Absolute Rating Standard or a Relative Rating Standard?"
      Puneet Prakash - Georgia State University - pprakash1@gsu.edu
      Richard D. Phillips - Georgia State University - rphillips@gsu.edu

2. "Managing Catastrophe Risk: An Actuarial Approach"
      Jiandong Ren - University of Western Ontario - jren@stats.unwo.ca

3. "An Exploratory Analysis of Homeowners Insurance Profitability Using Intra-Company Results"
      Michael Barth - Georgia Southern University - ambarth@georgiasouthern.edu
12:30 - 2:00 pm Closing Board Meeting

Members of the 2004 Program Committee
Plenary and Special Session Organizers:

Debbie Babcock, Illinois State University
J. David Cummins, University of Pennsylvania

Proposal Reviewers
Michael Adams, University of Wales-Swansea
Jan Ambrose, LaSalle University
Patricia Born, University of California, Northridge
Lee Colquitt, Auburn University
David Eckles, Georgia Southern University
Karen Epermanis, The University of Mississippi
Yanling Ge, Southern Illinois University, Edwardsville
Martin Halek, University of Georgia
Mary Kelly, Wilfrid Laurier University
Dana Kerr, St. Mary’s University
Bum Kim, University of Minnesota, Duluth
Yu Luen Ma, Illinois State University
Kathleen McCullough, Florida State University
Michael McNamara, Washington State University
Chuck Nyce, University of Georgia
Nat Pope, Bradley University
Laureen Regan, Temple University
Tapen Sinha, Instituto Technologico Autonomo de Mexico
Krupa Viswanathan, Temple University
Achim Wambach, University of Erlangen-Nurnberg
Jennifer Wang, National Chengchi University
Mulong Wang, University of Rhode Island
Brenda Wells, University of North Texas
Tong Yu, University of Rhode Island
Program Chair
Larry Cox, The University of Mississippi

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