Program - WRIA- Western Risk _ Insurance Association

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					                                        Saturday, January 3, 2009
                                              3:00 PM – 5:00 PM
                                            WRIA Board Meeting
                                              5:00 PM – 6:00 PM
                                     Registration – Virginia City Foyer
                                              6:00 PM – 8:00 PM
                                   Opening Reception – Virginia City II


                            Sunday, January 4, 2009
                 Sessions Begin and Registration Continues

7:30 – 8:30 AM              Buffet Breakfast (Virginia City I)

8:30 - 9:45 AM              SESSION A

Property & Liability Insurance
Moderator:        Randy Dumm (Florida State University)

Follow Form Excess Liability Insurance: Should the Primary Policy be Considered in Construing the Excess
        William J. Warfel (Indiana State University)

Liability Insurance as Protection Against Legal Error
          Vickie Bajtelsmit (Colorado State University)
          Paul D. Thistle (University of Nevada Las Vegas)

Liquidity Creation: The Evidence from U.S. Property and Liability Insurance Industry
         B. Paul Choi (Howard University)
         Jin Park (Illinois Wesleyan University)

Comparative Efficiency of U.S. Property - Casualty Industry Components
       Peter M. Ellis (Utah State University)

9:45 – 10:00 AM             Coffee Break

10:00 – 11:15 AM          SESSION B
Moderator:         Anne Kleffner (University of Calgary)

Geographic Diversification and Performance in Property Insurance Markets: A Comparison of Personal and
Commercial Lines
        Patricia Born (Florida State University)
         Barbara Klimaszewski-Blettner (Universität München)

The Effect of Organizational Culture on Team Performance: Evidence from German Property-Liability
Insurance Companies
         Sabine Wende (University of Cologne)
         Thomas Berry-Stölzle (University of Georgia)

An Examination of Share Price Behavior Surrounding the 2005 Hurricanes Katrina and Rita
       Partha Gangopadhyay (St. Cloud State University)
       Joseph D. Haley (St. Cloud State University)
       Li Zhang (St. Cloud State University)

Product Diversification and Performance in the Financial Industry: FHCs'
Expansion into Insurance Activities
        Mu-Sheng Chang (Shippensburg University)
        Elyas Elyasiani (Temple University)

11:15 – 11:30 AM          Coffee Break

11:30 – 12:45 PM          SESSION C
Risk Aversion
Moderator:           Brenda Wells (University of North Texas)

A Note on the Effects of Changes in the Optimal Insurance With Random Initial Wealth
         Nguema Jean Fernand (Université de Miontpellier 1)

Environmental Damage and Loss Valuation: Further Evidence from Hurricanes Katrina and Ike
        Risa Kumazawa (Georgia Southern University)
        J. Tim Query (New Mexico State University)
        Mark A. Yanochik (Georgia Southern University)

Insurance and Gambling: Not So Different
        David T. Russell (California State University, Northridge)

The Capitalization of Building Codes in House Prices
        Randy E. Dumm (Florida State University)
        G. Stacy Sirmans (Florida State University)
        Greg Smersh (Florida State University)

                        Sunday Presentation Sessions End

                       Monday, January 5, 2009

7:45 - 8:30 AM              Breakfast (Virginia City I)

8:30 – 9:05 AM               SESSION D
Corporate Risk Management
Moderator:      David T. Russell (California State University, Northridge)

The Value of a Reputation for Sustainability: Empirical Evidence
        Michael J. Robinson(University of Calgary)
        Anne Kleffner (University of Calgary)
        Stephanie Bertels (Simon Fraser University)
An Investigation into the Efficacy of Catastrophe Bond Ratings
         Peggy Hedges (University of Calgary)
         Ryan B. Lee (University of Calgary)

9:05 – 9:20 AM             Coffee Break

9:20 – 10:35 AM            SESSION E
Life Insurance and Retirement
Moderator:        Peggy Hedges (University of Calgary)

The Embedded Value Puzzle: Preliminary Lessons from the Israeli's Experience
       Yoram Eden (The College of Management, Israel)
       Benny Gabbay (Kost Forrer Gabbay & Kasierer Global, Israel)
       Moshe Shachaf (Kost Forrer Gabbay & Kasierer Global, Israel)

Another Source of Retirement Income - Annuity Payouts in Older Cash Value Life Insurance Contracts
        Richard B. Corbett (Florida State University)

Post-Retirement Financial Planning - Strategies and Products
         Arnold F. Shapiro (Penn State University)

Taking One for the Team? An Examination of the Efficiency of Fraternal Insurers
        Lihru Chen (National Chengchi University)
        Gene C. Lai (Washington State University)
        Michael J. McNamara (Washington State University)

10:35 – 10:50 AM           Coffee Break

10:50 – 12:00 PM            SESSION F

Auto Insurance/Mortgage Crisis
Moderator:      Karen Epermanis (Appalachian State University)

The Complexities Surrounding Uninsured Motorists: A New Mexico Case Study
       J. Tim Query (New Mexico State University)

Unsustainable Cost-Shifting in Bonus-Malus Auto Insurance: British Columbia Example
         Patrick Butler (National Organization for Women Foundation)

An Examination of Life Insurer Asset Portfolios in Light of the Current Mortgage Crisis
       L. Lee Colquitt (Auburn University)
       Andre Liebenberg (University of Mississippi)
       Harris Hollans (Auburn University)

                                  Monday Presentation Sessions End

                                 Monday, January 5, 2009
                                     12:15 – 1:30 PM
                    WRIA Sponsored Luncheon and Annual Business Meeting
                             Location: Paradise Garden Buffet

                                       Tuesday, January 6, 2009

7:45 - 8:30 AM            Breakfast (Virginia City I)

8:30 - 9:20 AM            SESSION G

Educational Insights
Moderator:        Lee Colquitt (Auburn University)

A Reinsurance Case Study: Distlefink Mutual - A Reinsurance Program in Action
        Bruce Evans (University of Dallas)

The Role of the Instructor and AACSB in Teaching Risk Management and Insurance
         Patricia Cheshier (California State University, Sacramento)

From Meatpacking to Insurance: Lessons from Ethical Downfalls
       Karen Epermanis (Appalachian State University)
       Brenda Wells (University of North Texas)
       Michael Braswell (University of North Texas)

9:20 – 9:30 AM                                      Abbreviated Coffee Break

9:30 – 10:20 AM            SESSION H

Insurer Risk Appetite
Moderator:       Paul D. Thistle (University of Nevada, Las Vegas)

Organizational Structure, Corporate Governance and Risk Taking in the U.S. Property Casualty Insurance
         Chia-Ling Ho (Feng Chia University)
         Gene C. Lai (Washington State University)
         Jin-Ping Lee (Feng Chia University)

Investment Cycles in the Insurance Industry
        Yayuan Ren (Illinois State University)
        Qixiang Sun (Peking University)
        Zhenzhen Sun (University of Rhode Island)
        Tong Yu (University of Rhode Island)

Asset Management Under Solvency II in an Inflationary Environment: The Fisher Hypothesis Revisited
        Tobia Basse (NORD/LB)
        Meik Friedrich (NORD/LB)
        J. Matthias Graf von der Schulenburg (Leibnizuniversität Hannover)

10:20 – 10:30 A.M.                                  Abbreviated Coffee Break

10:30 AM – 11:20 AM         SESSION I
Insurance Pricing
Moderator:        Bill Ferguson (University of Louisiana, Lafayette)

Pricing By Line of Business in Multi-Line P & C Insurance: A Contingent Claims Approach
         Li Zhang (St. Cloud State University)
         Norma Nielson (University of Calgary)

Applying Non-standard Mixture Models for Determining Loss Cost
        Farrokh Guiahi (Hofstra University)

Longevity Risk Premium, Extreme Value Approach and Risk Cubic Pricing
        Hua Chen (Temple University)
        J. David Cummins (Temple University)

11:20 – 11:30 AM                     Abbreviated Coffee Break

11:30 AM - 12:20 PM        SESSION J

Regulation and Solvency
Moderator:        Bev Frickel (University of Nebraska, Kearney)

Risk Measures and Capital for Dependent Risks
        Michael Sherris (University of New South Wales)
        Florence Wu (Genworth Financial)

Whither The McCarran Ferguson Act - Is Federalization of Insurance Regulation Inevitable
        Allen Arnold (University of Central Oklahoma)
        Jean MacDonald (University of Texas at Dallas)
        Stuart T. MacDonald (University of Central Oklahoma)

Detecting Fuzzy Predictor Variables: The Case of Insurer Solvency Surveillance in Germany
         Thomas R. Berry-Stölzle (University of Georgia)
         Maria-Claire Koissi (Western Illinois University)
         Arnold F. Shapiro (Penn State University)

                             WRIA 43rd Annual Meeting Concludes