The PhD concentration in Risk Management and Insurance (RMI) prepares students for academic careers at research universities so that they are competitive for positions in RMI-dedicated departments as well as specialized roles in finance, economics or actuarial science departments, depending on the interests of the student.
The Department of Risk, Insurance and Healthcare Management (RIHM) includes faculty specializing in risk management and insurance, and actuarial science. Our faculty’s research focus and department activities benefit our students in the job market, leading to research appointments at universities such as California State University, the University of Florida, the University of Wisconsin – La Crosse, National Taiwan University, Fudan University and the Korean Institute of Finance.
Faculty members’ research focuses on a variety of risk-related topics including the productivity and efficiency of insurance firms, insurance regulation, behavioral insurance, enterprise risk management, catastrophic risk management, longevity risk management, healthcare and health insurance markets and actuarial modeling, among others. The RIHM Department also conducts leading research on important public policy issues such insurance utilization in emerging markets (microinsurance) and consumer decisions related to catastrophic risk exposures including flood or hurricanes. Faculty publish in many leading journals including the Journal of Risk and Insurance, Journal of Risk and Uncertainty, Insurance: Mathematics and Economics, the North American Actuarial Journal and the Geneva Papers on Risk and Insurance.
In addition to the seminars that are part of the doctoral student’s program of study, the RIHM Department provides a series of research activities designed to further develop the doctoral student’s knowledge of the relevant literature and the academics active in conducting research. These activities include the RIHM Reading Group, a bi-weekly meeting where published research is evaluated and critiqued; the RIHM Brownbag Seminar, a bi-weekly meeting where faculty and doctoral students present early phase research; and the Hedges Seminar, where well-known faculty from other universities are invited to campus to share their research. These activities, along with individual faculty support and guidance are hallmarks of the RMI PhD concentration and are instrumental in the professional development of doctoral students.