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RC KNOX CENTER for INSURANCE and RISK MANAGEMENT STUDIES

The Center was established to expand knowledge and understanding of Insurance and Risk Management and has existed since the 1980's.  As part of the University of Hartford, the Center's activities are aimed at students, industry, and the general public.  It was established with the support of Robert C. Knox, Jr. and the R. C. Knox and Company, Inc.  Ann Costello, PhD., Associate Professor of Insurance has served as the Director of the Center since 2001.  The Board of Directors, with extensive business expertise and experience, provides important guidance and assistance for the Center's programs and activities.  The current members are: J. Michael Collier, CPCU, Vice President, R. C. Knox and Company, Inc., Ann Costello, Ph.D., Associate Professor of Insurance and Director, R. C. Knox Center for Insurance and Risk Management Studies, Barney School of Business, James Fairfield-Sonn, Dean and Professor of Management, Barney School of Business, John Flynn, Senior Vice President and East Regional Manager,The Segal Company, Mark Lange, Vice President, Select Customer, The Hartford, Robert Lautensack, Senior Vice President and Chief Risk Officer, The Phoenix, Joseph J. Mistretta, CPCU and George M. Reider, Jr. Former Commissioner of Insurance, State of Connecticut, Former President, National Association of Insurance Commissioners.

The 2008 Risk-Manager-in-Residence is Announced
The Barney School Economics, Finance and Insurance department has again been awarded a grant by the Spencer Foundation to sponsor a visiting Risk-Manager-in-Residence. These grants are awarded based on proposals submitted by universities nationwide.  The Barney School has been selected for nine consecutive years.

This year we are honored to have Ann Barry from Fidelity Investments.  She is an expert in risk management and will be interacting with both undergraduate and graduate students, faculty, and local risk managers.  Her visit is scheduled for March 31 - April 2, 2008.  We welcome Ann to Barney and look forward to the knowledge sharing that will take place during her visit.

Sponsored Symposia
The Center has sponsored major symposia over the past several years.  Consistent with its charter, speakers have discussed and/or debated current major issues.  Some of the recent symposia are described below.

2007 - TOTAL COMPENSATION- HEALTH, RETIREMENT OR FOOD
BIOS.PDF
Event Brchure

The topic of last year's symposium was "Total Compensation - Health, Retirement or Food".  It addressed a major shift occurring in employee benefits.  In the past, medium and large employers have assumed the responsibility of the employees' healthcare and retirement needs by providing extensive benefits, both while an active employee and as a retired employee.  Today, many companies have shifted from defined benefit to defined contribution plans.  Some employers have frozen or terminated their plans altogether.  Employers are faced with major decisions as to how they will finance their healthcare and retirement needs and still be able to afford the normal cost of day-to-day living. 

Speakers

• George M. Reider, Jr., Former Commissioner of Insurance, State of Connecticut; Former President of National Association of Insurance Commissioners, Moderator
• Jack L. VanDerhei, PHD, CEBS, Profeessor Temple University, EBRI Fellow
• Howard Levine, Principal, Mercer Human Resource Consulting
• Nancy S, Wyman, Comptroller, State of Connecticut
• Benedict Cozzi, Business Manager and President, International Union of Operating Engineers, Local 478; President, Building and Construction Trades Council

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2005 - THE MEDICAL MALPRACTICE CRISIS - ARRIVING AT AN EQUITABLE SOLUTION

Speakers

• Claudia B. Gruss, M. S., Trustee, Fairfield County Medical Association, Connecticut State Medical Society
• Richard Brewer, President and Chief Executive Officer, ProMutual Group
• Vincent M. DeAngelo, Attorney, Trantolo & Trantolo
• Roland F. Young, III, Attorney, O'Brien, Tanski & Young LLP
• George M. Reider, Jr., Former Commissioner of Insurance, State of Connecticut; Former President of National Association of Insurance Commissioners, Moderator

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2003 - THE NEW ERA OF RISK - WHAT'S NEXT

Speakers

• Ramani Ayer, Chairman, President, and Chief Executive Officer, The Hartford Financial Services Group, Inc.
• Therese M. Vaughn, Iowa Insurance Commissioner; Former President of National Association of Insurance Commissioners
• Chris Duncan, Vice President, Finance, and Chief Risk Officer, Delta Airlines
• Ann Costello, Ph.D., Director, R. C. Knox Center for Insurance and Risk Management Studies, Barney School of Business, Moderator

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2002 - NEW DIRECTIONS IN HEALTH & RETIREMENT

Speakers

• Nancy L. Johnson, U. S. Congresswoman, 6th Congressional District, Connecticut Chairman, Health Subcommittee House Ways and Means Committee
• John W. Rowe, MD., Chairman, President and CEO, Aetna, Inc.
• Alexander Sussman, F. S. A., Senior Vice President, National Retirement Practice Leader, The Segal Company
• Tom Condon, Columnist, The Hartford Courant, Moderator

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2001 - E-COMMERCE AND LIABILITY

Speakers

• Denny Dennis, Ph.D., Chief Economist for National Federation of Independent Business. 
• Patrick Clendenen of Mintz, Levin, Cohn, Ferris, Glorsky and Papco
• Ted Doolittle of Carpenter and Moore.
• Brian Reilly of Arthur Andersen, Moderator.

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Roles
A major role of the Center is to support the undergraduate and graduate study in Insurance, Risk Management, and Employee Benefits.  The undergraduate major is Insurance/Finance and it provides students with an education that helps them to face the challenges of an ever-changing financial world.  Students are equipped to follow dynamic career paths.  The Center's support for student activities have included financial support of Gamma Iota Sigma, a national fraternity for study of risk, insurance, risk management and actuarial science.  Also, students have the opportunities to become involved in the local chapter meetings of the Risk and Insurance Management Society and the CPCU Society.  Both groups have established strong support for our programs.

The CPCU Society has established the Gert Sweeney Scholarship for University of Hartford Students majoring in Insurance/Finance.  The Connecticut Valley Chapter of RIMS has sponsored students to attend their national conference.  Also, we have competed in the Anita Benedetti student competition of the national Risk and Insurance Management Society, and a select group is chosen to attend their national conference - all expenses paid.  Scholars chosen represent the best from across the country, and they are fortunate to participate in a program that provides them with hands-on opportunity to meet risk managers, employee benefits consultants, insurance executive, and agents and brokers from all over the United States and Canada.  Students from Barney have been selected for this prestigious program for each of the last 12 years. This year's recipients are Samantha Cavallaro (Sr.) and Elisa Heaton (Jr.).  Last year's was Andrew Rohmer.

Organizations such as Travelers, Partners Re, the Angus Robinson Jr. Memorial Foundation, the Insurance Scholarship Foundation of America and the Bermuda Foundation for Insurance Studies have all provided schoolarships to our majors. Also, our students have done internships at most of the major financial companies.

Our undergraduate and graduate programs also have benefited from a close relationship with the Spencer Foundation.  Several have been chosen to be Spencer Scholars, which provides a $5,000 stipend and, most importantly, an industry mentor.  A $10,000 scholarship is available for graduate students. Elisa Heaton is a 2007-2008 Spencer Scholar.

The Barney School has also competed in the Spencer Foundation's Risk Manager in Residence program for the past nine years and has hosted risk managers from Harrah's, McDonald's, BJ's, BankNorth, National Association of Broadcasters, Dun and Bradstreet, Convergy's and U. S. Olympic Committee.  This year we are honored to have Ann Barry from Fidelity Investments.  She is an expert in risk management and will be interacting with both undergraduate and graduate students, faculty and local risk managers.  Her visit is scheduled for March 31 - April 2, 2008.

Another major activity of the Knox Center is to encourage research by awarding summer research grants to Barney faculty.  The recipients of the research grants for 2007 to 2008 are:"Organizational Form and Demand for Reinsurance in the Medical Malpractice Insurnace Market" - Yu Lei, Ph.D. , and "A Study of Social and Political Factors Affecting the World-Wide development and Adoptin of XBRL" - Barbara Lamberton, Ph.D.

The Center provides major support by contributions to the cost of Research Insight (Compustat) for the faculty and students of the Barney School.  This database provides extensive financial information on a vast cross-section of companies and is essential for corporate financial analysis.  Other publications are provided for the enhancement of the classroom experience.

The Center also has established graduation awards for outstanding Insurance/Finance graduates and serves as a conduit for employment and internship inquiries from industry. 

Inquiries about the Center and the Insurance/Finance major should be addressed to Dr. Ann Costello at acostello@hartford.edu , phone: 860-768-4503