Journal of Risk and Insurance

This academic risk management and insurance journal provides research in industrial organization of insurance markets, management of risks in the private and public sectors, insurance regulation and more.

Articles from Vol. 69, No. 3, September

A Comparison of State-of-the-Art Classification Techniques for Expert Automobile Insurance Claim Fraud Detection
ABSTRACT Several state-of-the-art binary classification techniques are experimentally evaluated in the context of expert automobile insurance claim fraud detection. The predictive power of logistic regression, C4.5 decision tree, k-nearest neighbor,...
Claims Auditing in Automobile Insurance: Fraud Detection and Deterrence Objectives
ABSTRACT Research on insurer management of opportunism in claiming has developed in two parallel literatures. One is a theoretical literature on insurance contracting that yields predictions about the nature of optimal auditing strategies for the deterrence...
Detection of Automobile Insurance Fraud with Discrete Choice Models and Misclassified Claims
ABSTRACT The insurance industry is concerned with the detection of fraudulent behavior. The number of automobile claims involving some kind of suspicious circumstance is high and has become a subject of major interest for companies. This article demonstrates...
Disability Income Insurance: The Unique Risk
Disability Income Insurance: The Unique Risk, 5th ed., by Charles E. Soule, 2002, Bryn Mawr, Pa: The American College. Reviewer: Karen L. Hamilton, Appalachian State University, Boone, N.C. This book is used by The American College in its individual...
EFD: A Hybrid Knowledge/statistical-Based System for the Detection of Fraud
Dan R. Riedinger (1) ABSTRACT Electronic Fraud Detection (EFD) assists Investigative Consultants in the Managed Care & Employee Benefits Security Unit of The Travelers Insurance Companies in the detection and preinvestigative analysis of...
E-Risk: Liabilities in a Wired World
e-Risk: Liabilities in a Wired World, by Scott Lange, Julie Davis, Daniel Jaye, Dan Erwin, James Mullarney, Leo Clarke, and Martin C. Loesch, 2000, Cincinnati, Ohio: The National Underwriter Company. This text examines six broad topics of importance...
Fraud Classification Using Principal Component Analysis of RIDITs
ABSTRACT This article introduces to the statistical and insurance literature a mathematical technique for an a priori classification of objects when no training sample exists for which the exact correct group membership is known. The article also...
From Mutual Aid to the Welfare State: Fraternal Societies and Social Services, 1890-1967
From Mutual Aid to the Welfare State: Fraternal Societies and Social Services, 18901967, by David T. Beito, 2000, Chapel Hill: University of North Carolina Press. Civil society encompasses the variety of human interactions that fill the social, economic,...
Insurance Fraud
ABSTRACT Insurance fraud is a major problem in the United States at the beginning of the 21st century. It has no doubt existed wherever insurance policies are written, taking different forms to suit the economic time and coverage available. From...
Loss Reserving: An Actuarial Perspective
Loss Reserving: An Actuarial Perspective, by Greg Taylor, 2000, Norwell, Mass.: Kluwer Academic Publishers. Reviewer: Kevin M. Madigan, Miller, Herbers, Lehmann, and Associates, Inc. What does one mean by the phrase loss reserving? An accountant may...
Personal Insurance
Personal Insurance, 4th edition, by George E. Rejda, Constance M. Luthardt, Cheryl L. Ferguson, and Donald R. Oakes INS 22 is a course that requires insurance industry novices to master voluminous amounts of information. This can be a daunting task for...
Recent Court Decisions
U.S. APPEALS COURT APPLIES "ECONOMIC LOSS" DOCTRINE TO CLASS ACTION CLAIM OF DEFECTIVE AUTO TRANSMISSIONS, LIMITING REMEDIES SOUGHT; No EXCEPTION FOR FRAUD Werwinski v. Ford Motor Co., 286 F.3d, 661, 2002 U.S. App. LEXIS 6854 (U.S. Court of Appeals...
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