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, Actuarial Science, and Legal Studies (RALS) offers degree programs spanning the risk space including risk management/insurance, actuarial science, legal studies and healthcare management. Faculty specialize in risk management and insurance, actuarial science and legal studies. 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, University of Florida, University of Mississippi, 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, household finance and risk, catastrophic risk management, longevity risk management, healthcare and health insurance markets and actuarial modeling, among others. Faculty also conduct leading research on important public policy issues such as insurance utilization in emerging markets (microinsurance) and consumer decisions related to catastrophic risk exposures including floods 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 RMI concentration 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 RALS 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.

Concentration Advisor

Benjamin Collier
Risk, Actuarial Science, and Legal Studies
Associate Professor
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