FINAL PROGRAM
2005 Western Risk and Insurance Association Meeting
January 5-8
Monterey, California

WEDNESDAY, JANUARY 5

4:00-5:00 P.M. Board Of Director's Meeting
5:00 - 6:00 P.M. Registration
6:00 - 8:00 P.M. Reception

THURSDAY, JANUARY 6

8:00- 9:15 Plenary Session: Insurance Programs: Perspectives from Austria and Germany

Moderator: Mark Dorfman (UNC-Charlotte)

Featured Speakers: Heinrich Stremitzer (Vienna Univ. of Econ. and Business Administration, Austria)
J. Matthias Schulenburg (University of Hannover, Germany)
Karl Ennsfellner (University of Applied Sciences- Krems, Austria)

9:30-10:45 A.M. SESSION A: IMPACT OF INFORMATION ON FIRM STRUCTURE AND VALUE

1. "Asymmetric Information and the Organizational Structure Of Insurance Markets"
James A. Ligon (University of Alabama)
Paul D. Thistle (University of Nevada Las Vegas)

2. "The Informational Impact of Insurance Company Share Repurchases by Line of Business"
John Polonchek (Oklahoma State University)
Ronald K. Miller (Oklahoma State University)

3. "Informational Asymmetry, Differential Compensation, and Imperfect Message in Demutualization"
Bum Kim (California State University Bakersfield)

4. "The Pricing of Insurer Demutualization Initial Public Offerings"
Krupa S. Viswanathan (Temple University)

11:00 -12:15 A.M. SESSION B: INSURANCE AVAILABILITY AND AFFORDABILITY

1. "Protected Cell Captive Insurance: A Solution For The Medical Malpractice Crisis?"
Terry Rose (West Virginia University)
G. Thomas Roberts (Roberts & Patton)
Mui Wong (West Virginia University)
Meredith Bartlett (West Virginia University)

2. "Difference in reinsurance arbitrations; Legal, Generational or Financial Explanations?"
Bruce Evans (University of Dallas)

3. "Moral Hazard And Government Sponsored Insurance In The Medical Malpractice Market: An Empirical Analysis"
Anne Carroll (Rider University)
Jan Ambrose (Lasalle University)

4. "Recent Efficiency Declines in the U.S. Property - Casualty Insurance Industry"
Peter M. Ellis (Utah State University)

FRIDAY, JANUARY 7

8:30-9:30 A.M. SESSION C: RISK MANAGEMENT AND LIABILITY ISSUES

1. "Danny, don't mess with me. You don't know me. Workplace Homicides and Shareholder Wealth"
Michael J. McNamara (Washington State University)
Stephen W. Pruitt (University of Missouri, Kansas City)

2. "Sexual Harassment Litigation: Risk Management Implications"
Bill Warfel (Indiana State University)
Tim Query (Illinois Wesleyan University)

3. "Asbestos Litigation Reform: An Identification of Problematic Issues"
Bill Warfel (Indiana State University)

9:45-11:00 A.M. SESSION D: FINANCE AND ECONOMICS

1. "Leontief Models and their Use in Insurance Economics"
Christian Thomann (University of Hannover)
J.-Matthias Graf von der Schulenburg (University of Hannover)

2. "Fuzzy Regression and the Term Structure of Interest Rates Revisited"
Arnold Shapiro (Penn State University)

3. "Life Insurers' Asset Allocation Dynamics and Performance"
Etti Baranoff (Virginia Commonwealth University)
Thomas Sager (University of Texas- Austin)

4. "Hedging Brevity and Longevity Risk with Mortality-based Securities"
Andreas Richter (Illinois State University)
Richard MacMinn (Illinois State University)

11:15-12:15 SESSION E: AUTO AND HOMEOWNER INSURANCE MARKET ISSUES

1. "Subsidence Funds, A Comparative Analysis"
Pat Maroney (Florida State University)

2. "Automobile Insurance in Canada: An Analysis of Costs Across Provinces"
Anne Kleffner (University of Calgary)
Gilles Bernier (Laval University)

3. "Proof That Auto Insurance Driver-Record Rating Predicts Miles Not Negligence: Liability And U.M. Claim Rates Correlate"
Patrick Butler (National Organization for Women)

12:30-1:30 WRIA Sponsored Luncheon

1:30- 2:00 WRIA Business Meeting

SATURDAY, JANUARY 8

8:30-9:45 A.M. SESSION F: REGULATING THE INSURANCE MARKETPLACE

1. An Empirical Analysis of State Insurer Licensing Practices
Lee Colquitt (Auburn University)
Norman Godwin (Auburn University)
David Sommer (The University of Georgia)

2. A Proposal For Modernizing U.S. Insurance Regulation Utilizing Some Of The Key Components Of The European Union's Insurance Regulatory System
Mark S. Dorfman (UNC Charlotte)
Robert W. Cooper (Drake University)

3. The Impact of Regulatory Requirements on Limits of Diversification and the Resulting Misperception of Risk
Gene C. Lai (Washington State University)
Andreas Gottschling (LGT Capital Management)

4. "Evaluating Liquidation Strategies for Insurance Companies"
Thomas Berry-Stölzle (University of Cologne)

10:00-11:15 A.M. SESSION G: MANAGEMENT, RISK, AND INSURANCE MARKETS

1. "Organizational Rules - A Classification"
Karl Ennsfellner (Krems University)
Ilse Ennsfellner (Ennsfellner Consulting)

2. "Risk Perspectives: Finance vs. Traditional RMI"
Bev Frickel (University of Nebraska)

3. "The European Insurance Market after the 2004 enlargement of the EU"
Karl Ennsfellner (Krems University)

4. "Uncertain Demand and Insurance Distribution"
Nobuko Aoba (Naruto University of Education)

11:15-12:15 P.M. SESSION H: LIFE INSURANCE AND RETIREMENT PLANNING

1. "Lack of Familiarity as an Element in Retirement Planning: A Proposal"
William Jennings (California State University Northridge)
Penelope Jennings (California State University Northridge)

2. "An Analysis of Life Insurance Twisting Regulations"
Brenda Wells (University of North Texas)
Kenny Chan (California State University)

3. The Impact of Prefunding on the Pension Max Strategy
Randy Dumm (Florida State University)

39th WRIA PROGRAM CONCLUDES