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State Committee Member SeminarsSupporting Policymaker Education
 
 

The Basic Principles of Risk Management and Insurance

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-An Education Program for Congressional Staff

The Griffith Insurance Education Foundation will present four seminars on the basic principles of risk management and insurance for the staff of the Financial Services, Banking, Energy & Commerce and other interested Congressional staff. This program has been designed to provide staff with a better understanding of the fundamental principles underlying many of the risk management and insurance issues currently before them.

The Foundation’s faculty of distinguished professors, from some of the nation’s most respected collegiate business programs, has been educating policymakers on these issues since 1993. They thoroughly understand the difference between educating a college student and addressing the lawmaker’s need to apply their knowledge to real world issues. The Griffith Foundation is a 501(c)(3), nonpartisan, nonadvocacy educational organization.

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Session #1 – The Basic Principles of Risk Management and Insurance (lunch provided)

Date: April 29th, 2013

12:30-1:45 p.m.

Location: Senate Visitors Center, Room 212

The first session, The Basic Principles of Risk Management and Insurance, is taught by Dr. James M. Carson, the Midyette Eminent Scholar Chair in Risk Management and Insurance (RMI) in the College of Business at Florida State University. He also directs the RMI Doctoral Program and teaches courses in the college’s undergraduate, masters, and doctoral programs. His presentation will provide an introduction on risk management principles, the role of insurance, catostrophe losses, and risk pooling.

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Session #2 – The Business of Insurance (lunch provided)

Date: May 6th, 2013

12:30-1:45 p.m.

Location: Senate Visitors Center, Room 209

The second session, The Business of Insurance, will focuses on Property & Casualty Insurance (P&C), how the P&C industry works, the role of investments, reinsurance and guaranty funds. Dr. Robert E. Hoyt, the Dudly L. Moore, Jr. Chair of Risk Management and Insurance and RMI Department Head at the University of Georgia’s Terry College of Business, will present this program.

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Session #3 – Risk Management and Public Policy (lunch provided)

Date: May 20th, 2013

12:30-1:45 p.m.

Location: Cannon House Office Building, Room 441

The third session, Risk Management and Public Policy, will will provide an overview of life insurance and annuities and how the life insurance industry works, as well as the role of both insurance legislation and regulation. Dr. R. B. Drennan, Associate Professor of Risk Management and Insurance and Chair of the Department of Risk, Insurance and Healthcare with the Fox School of Business Management at Temple University, will present this program.

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Session #4- The Basic Principles of Health Insurance (lunch provided)

Date: June 3rd, 2013

12:30-1:45 p.m.

Location: Senate Visitors Center, Room 212

The final session, The Basics Principles of Health Insurance, will provide an overview of health insurance, retirement plans, ERISA, and self-insurance. Dr. Vickie L. Bajtelsmit, Director of Financial Risk Management Program and Professor with the Department of Finance and Real Estate at Colorado State University, will present this program.

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Purpose

In today’s economic environment, federal policymakers and their staffs have been asked to address a growing number of risk management and insurance issues and must come up to speed quickly on these issues in order to make informed decisions. The Griffith Insurance Education Foundation has been providing education programs for public policymakers since 1993 and has become a well-respected, non-partisan resource for risk management and insurance education. Given the Foundation’s mission of supporting the teaching of these topics at all levels of academia and public policy, the Foundation is working closely with key contacts in Washington D.C. to provide resources and information with basic principles education programs that are unbiased and non-partisan.

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Benefits

When important policy issues surrounding risk management and insurance arise in Congress, policymakers are inundated with information and materials almost always supporting a position on the impending legislation. In conversations with key Congressional staff, they agree that a need exists for education programs on the basic underlying principles of risk management and insurance. A thorough understanding of risk management principles and how the insurance mechanism works would help policymakers make more informed decisions when crafting and voting on risk and insurance legislation.

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