Fundamentals of Risk and Insurance, 11th Edition presents a thorough and comprehensive introduction to the field of insurance while emphasizing the consumer. The new edition first examines the concept of risk, the nature of the insurance device, and the rinciples of risk management. It then...

Much work has been done in recent years on the subject of insurance regulation and capital requirements, and the process of regulatory reform will continue. It behooves insurance supervisors to take a step back, revisit the underlying assumptions that have driven supervisory reform in the...

S. 40, the National Insurance Act of 2007, requires the development of a system of Prompt Corrective Action (PCA) for federally chartered insurers. This paper discusses the issues associated with developing a system of PCA and makes recommendations regarding its structure. First, the paper...