By Larry Hershberger, Director
As we embark on a new academic year, it is appropriate to reflect a bit on what's behind us and what lies ahead. The institute has now been at work for six complete academic years, and it is gratifying to report that a total of 133 students have been awarded the Certificate in Risk Management and Insurance (RMI) thus far. This represents a key benchmark in the accomplishment of our mission of providing a comprehensive and innovative program of RMI education in support of a financial sector critical to the economic future of not just Iowa, but of the country and globally as well.
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By Ruth Paarmann
Around the world, opportunities abound in insurance and risk management. Steve Eginoire, BGS76, an advisory board member for the Vaughan Institute of Risk Management and Insurance, has taken part in helping Lockton expand its reach to include insurance brokerage offices in London with additional offices from Thailand to Brazil. It was an exciting opportunity for the company, one that further entrenched them into the global economy. Read more…
By Ruth Paarmann
Where in the world is Ty Leverty? Over the past year, the UI Vaughan Institute's assistant professor has presented in Massachusetts, Switzerland, Florida, and Montreal, and his research has garnered attention from leading organizations and insurance industry journals. He fits it all into his regular schedule of teaching Principles of Risk Management Insurance and Corporate and Financial Risk Management.
Ty kicked off a busy academic year starting in the Tippie College of Business. In the fall, he presented a health insurance reform topic to Beta Alpha Psi, the undergraduate accounting fraternity. This spring, he discussed risk management with MBA students in the UI’s finance career academy. The following week, Ty flew from Iowa City to Zurich to Tallahassee.
Ty was invited to present at the Risk and Insurance Economics workshop at ETH Zurich, a Swiss university often described as the MIT of Europe. He presented “The Value of Investing in Enterprise Risk Management” to professors at ETH Zurich and University of Zurich. The presentation was based on a joint paper that examines whether this integrated approach is worthwhile and how it can be implemented by a business. He shared the stage with presenters from France, Germany, and Switzerland.
“A lot of people are interested in integrated risk management,” says Ty. “Typically, risks like fire, liability and exchange rate risk are analyzed separately. The idea of integrated risk management is to look at these risks holistically and measure their net impact.”
Ty’s next stop was Tallahassee, Fla., where he was invited to be a guest speaker by Florida State University’s Center for Insurance Research. He met with faculty there and presented “The Cost of Duplicative Regulation: Evidence from Risk Retention Groups.” The paper examines the costs involved with state insurance regulation. It is forthcoming in the Journal of Risk and Insurance.
“When insurance companies operate across the U.S., they have to deal with 50 different regulators—one in each state,” Ty explains. “So if you do business in Iowa and Illinois, the company has to comply with two regulators. In contrast, in the European Union, companies can operate in multiple countries and only need to comply with one regulator.”
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