Risk Theory Society

Risk Theory SocietyRisk Theory SocietyRisk Theory Society

Risk Theory Society

Risk Theory SocietyRisk Theory SocietyRisk Theory Society
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Annual Seminar

Annual SeminarAnnual SeminarAnnual Seminar

Fostering research in risk theory and risk mangement

Join Us from May 2nd-4th, 2025, at HEC Montréal
Registration

Annual Seminar

Annual SeminarAnnual SeminarAnnual Seminar

Fostering research in risk theory and risk mangement

Join Us from May 2nd-4th, 2025, at HEC Montréal
Registration

Welcome to the Risk Theory Society

Our Mission

 The Risk Theory Society (RTS), originally founded in August 1963 as the Risk Theory Seminar, is a self-administered organization within the American Risk and Insurance Association (ARIA). RTS is a group of economists, financial economists, and actuaries who undertake theoretical and applied research in the areas of insurance economics, financial economics related to insurance markets, actuarial science, and more generally in the economic analysis of risk and uncertainty. Membership in the society is earned by presenting a paper at the annual seminar and forfeited by missing two consecutive meetings 

Our Sponsors

HEC Montréal, CIRANO, and the Financial Education Lab

EMBEC and the Journal of Risk and Insurance

Schedule

2025 Risk Theory Seminars

All seminars will be held in room  GardaWorld (A.463) at HEC Montréal's EHD Pavilion.


Friday, May 2

  • 4:30 pm – 6:00 pm Welcome Reception (Terrace Guy-Fréchette, A.878)


  • 6:00 pm – 6:05 pm Introductions 


  • 6:05 pm – 7:20 pm “Commitment and Nitpicky Behaviors in Insurance” Ze Chen, Hong Li, Tao Li, Li Wei
  • 7:25 pm – 8:40 pm “Does Enterprise Risk Management Bolster Investor Confidence? Evidence from Options-Based Restatement Contagion, Investment, and Misstatements”  Michael Neel, Jianren Xu


Saturday, May 3

  • 7:00 am – 8:00 am Breakfast (Espace Crétier  A.469 )


  • 8:00 am – 9:15 am “Coverage Neglect in Homeowners Insurance”  Anthony Cookson, Emily Gallagher, Philip Mulder
  • 9:20 am – 10:35 am “Physical Climate Risk Factors and an Application to Measuring Insurers Climate Risk Exposure”  Hyeyoon Jung, Robert Engle, Shan Ge, Xuran Zeng


  • 10:35 am – 10:50 am Health Break (Espace Crétier A.469 )


  • 10:50 am – 12:05 pm  “Reinsurance, Financial Frictions, and Subsidy Efficiency: Evidence from Health Insurance”  Paul Kim, Anran Li


  • 12:05 pm – 1:05 pm Lunch on your own; First floor lunch counter open, (Claude-Séguin, A.373)


  • 1:05 pm – 2:20 pm “Market Power and Insurance Coverage” Daniel Gottlieb, Humberto Moreira
  • 2:25 pm  –  3:40 pm “Firm Learning in a Selection Market”   Claudio Lucarelli, Evan Saltzman


  • 3:40 pm – 3:55 pm  Coffee Break (Espace Crétier A.469 )


  • 3:55 pm  –  5:10 pm “Moral Hazard under Liquidity Constraints” Keith Marzilli Ericson, Johannes Jaspersen, Justin Sydnor


  • 5:10 pm – 5:45 pm Business Meeting


  • 6:30 pm Conference Dinner at Intercontinental Hotel, "Les Voutes"


Sunday, May 4

  • 8:00 am – 9:00 am Breakfast (Espace Crétier A.469 )


  • 9:00 am – 10:15 am “Unrealized Trading Gains”   Chuck Fang
  • 10:20 am – 11:35 am “Gambling for Recovery? Exploring the Credit Risk of European Insurers’ Bond Portfolios during the Covid-19 Market Crash”  Marcel Beyer


  • 11:45 am Adjourn

Papers of the 2025 Risk theory society seminar

RTS Customs and Traditions

“ Members present at the meeting pledge to read all papers prior to the annual seminar (…) and should  be ready to ask any questions they might have for each paper. ”  

_________________________________________________________

Commitment and Nitpicky Behaviors in Insurance

Ze Chen, Hong Li, Tao Li, Li Wei

Download

Does Enterprise Risk Management Bolster Investor Confidence?

Michael Neel, Jianren Xu 

Download

Coverage Neglect in Homeowners Insurance

Anthony Cookson, Emily Gallagher, Philip Mulder 

Download

Physical Climate Risk Factors and an Application to Measuring Insurers Climate Risk Exposure

Hyeyoon Jung, Robert Engle, Shan Ge, Xuran Zeng 

Download

Reinsurance, Financial Frictions, and Subsidy Efficiency: Evidence from Health Insurance

Paul Kim, Anran Li 

Download

Market Power and Insurance Coverage

Daniel Gottlieb, Humberto Moreira 

Download

Firm Learning in a Selection Market

Claudio Lucarelli, Evan Saltzman 

Download

Moral Hazard under Liquidity Constraints

Keith Marzilli Ericson, Johannes Jaspersen, Justin Sydnor 

Download

Unrealized Trading Gains

Chuck Fang 

Download

Gambling for Recovery? Exploring the Credit Risk of European Insurers’ Bond Portfolios during the Co

Marcel Beyer 

Download

Dinner recommendations

Île de France (Centre Eaton)                         Le carré (Square Phillips)
Monarque (St-Jacques)                                    Holder  (McGill)

Osco! (St-Antoine)

  

Moishe’s Steakhouse (Beaver Hall)                    Steak-frites St-Paul (St-Antoine)
 

Saiko Bistrot Izakaya (Beaver Hall)

                       Pho Ly Quoc Su (Square Phillips)                      Brit and Chips (McGill)                        

RTS_2025_HEC (pdf)

Download

Contact

Getting here (IMPORTANT VISA INFORMATION):

Entry requirements for Canada; please consult https://www.canada.ca/en/immigration-refugees-citizenship/services/visit-canada/entry-requirements-country.html


There are flights to the Montreal-Trudeau International airport (YUL) from many cities worldwide. 


City taxis and Uber  cars operate from the airport. You may also care to take the 747 bus that takes you one block away from the two recommended  hotels (and the seminar venue).

Do not forget to register (see top of page)

Get in Touch!

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Lodging In montreal

Square Phillips (booking by email only)


 Intercontinental (booking online) 

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