Journal AwardS

Donald Hardigree MEMORIAL AWARD

In honor of a beloved colleague and friend of the Western Risk and Insurance Association, in 1998 the Outstanding Journal of Insurance Issues Article Award was renamed the Donald Hardigree Memorial Award. Each year, the award is presented to the author of the article deemed to be the “best” for the past year. Previous winners include:

2021 Bisco, Jill, Stephen Fier, and Ashley Holder (2021) “A.M. Best Ratings Outlooks and Financial Strength Rating Changes” 44(1): 1-37.

2020 Born, Patricia, Linda Hughenrmans, and Tice Sirmans (2020) “The Impact of Market Power and Economies of Scale on Large Group Health Insurer Profitability” 43(2): 43-63.

2019 Che, Xin (2019) “Reserve Management: Evidence from U.S. Property‐Liability Insurance Companies, 42(2):1-38.

2018  Carson, James, Randy Dumm, Martin Halek, Andre Liebenberg (2018) “What Factors Portend Changes in Household Relative Risk Aversion?” 41(1): 1‐21

2017 Born, Patricia (2017) “The Influence of Tort Reform on the Auto Liability Losses and Premiums” 40(1):61-89.

2016 Fier, Stephen G., and David M. Pooser (2016) “Advertising Effectiveness for Financial Services Firms: Evidence from the Life Insurance Industry” 39(2): 137-169.

2015 Braun, Alexander, Hato Schmeiser, and Florian Schreiber (2015) “Solvency II’s Market Risk Standard Formula: How credible is the proclaimed ruin probability?” 38(1): 1-30.

2014 Chen, Lih Ru and Michael J. McNamara (2014) “An Examination of the Relative Efficiency of Fraternal Insurers” 37(1): 1-31.

2013 Fier, Stephen G., and Andre P. Liebenberg, “Market Reaction to Potential Federal Regulation in the Insurance Industry” 36(1): 1-34.

2012 Kerr, Dana A., “Exploring the Role of Psuedodeductibles in Auto Insurance Claims Reporting,” 35(1): 1-43.

2011 Kerr, Dana A., and Bert J. Smoluk, “Macroeconomic Influences on Social Security Disability Insurance Application Rates,” 34(2): 112-150.

2010 Lei, Yu, and Joan T. Schmit, “Influences of Organizational Structure and Diversification on Medical Malpractice Insurer Performance,” 33(2): 152-177.

2009 Akhigbe, Aigbe, Anna D. Martin, and Ann Marie Whyte, “Capital Market Risk Implications of Governance and Disclosure for the Insurance Industry: The Case of Sarbanes-Oxley,” 32(1): 78-104.

2008 Scordis, Nicos A., James Barrese, and Ping Wang, “The Impact of Cash Flow Volatility on Systematic Risk,” 31(1): 43 -71.

2007 Ligon, James, and Paul Thistle, “A Behavioral Model of Insurance Pricing,” 30(1): 46-61.

2006 Kelly, Mary, and Anne Kleffner, “The Distribution of Property/Liability Insurance in Canada: Costs and Market Structure,” 29(1): 51-70.

2005 Min-Ming, Wen, and Patricia Born, “Firm-Level Data Analysis of the Effects of Net Investment Income on Underwriting Cycles: An Application of Simultaneous Equations,” 28(1): 14-32.

2004 Yu, Tong, Bingxuan Lin, Mulong Wang, and William R. Feldhaus, “Capacity Constraints and IPO Underpricing in the Property and Liability Insurance Industry,” 27(2): 104-122.

2003 Ostaszewski, Krzystof, “Is Life Insurance a Human Capital Derivatives Business?” 26(1): 1-14.pdf

2002 Lai, Gene C., Michael J. McNamara, and Henry R. Oppenheimer, “Large Losses and Firm Value: Investor Response and Managerial Decisions,” 25(1): 63-84.

2001 Nissan, Edward, and Regina Caveny, “A Comparison of Large Firm Dominance in Property and Liability Insurance with Major Industries,” 24(1/2): 58-73.

2000 Aiuppa, Thomas A., and Lise Graham, “Measuring the Value of an Exposure: A Capital Budgeting Approach,” 23(1): 1-29.

1999 Louberge, Henri, Evis Kellezi, and Manfred Gilli, “Using Catastrophe-Linked Securities to Diversify Insurance Risk: A Financial Analysis of Cat Bonds,” 22(2): 125-146.

1998 Carson, James M., Mark D. Forster, and Michael J. McNamara, “Changes in Ownership Structure: Theory and Evidence from Life Insurer Demutualizations,” 21(1): 1-22.

1997 Pottier, Steven W., “Life Insurer Risk Characteristics and the Rating Process,” 20(2): 111-130.

1996 Sommer, David W., “Solvency Regulation through Risk-Based Capital and Risk-Based Guaranty Fund Premiums: An Analysis of Incentive Effects,” 19(2): 94-106.

1991 Power, Fred B., E. Warren Shows, and Robert L. Meyer, “The Role of State Guaranty Funds in the Property Casualty Insurance Industry,”14(2): 51-72.

1990 Hardigree, Donald W., and Vince Howe, “The Insurer Selection Process by Independent Insurance Agents,” 13(1): 27-46.

1989 Hoyt, Robert E., “Hedging a Credited Rate for a Universal Life Policy,” 12(2): 22-37.


In recognition of the dedicated and conscientious efforts of our many academic colleagues who give so freely of their time to ensure the quality of the Journal of Insurance Issues content, we recognize the especially outstanding efforts of (a) reviewer/s each year. Thank you for all that you do to promote our discipline.

2022 Sebastian Schlütter, Hochschule Mainz

2021 Sojung Park, Seoul National University

2020 Yifei Li, University of Nevada, Reno

2019 Xin Che, California State University, Fullerton

2010 Joseph S. Ruhland, Georgia Southern University

2009 Michael McNamara, Washington State University

Kathleen McCullough, Florida State University

2008 Thomas R. Berry-Stoelzle, University of Georgia

2007 Steve Fier, Florida State University

Kevin Gatzlaff, Florida State University

Yuling Wang, Florida State University

2006 Kathleen McCullough, Florida State University

Michael McNamara, Washington State University

2005 Ryan B. Lee, University of Calgary

David L. Eckles, University of Georgia

2004 Kevin Ahlgrim, Illinois State University

Martin Halek, University of Georgia

2003 Dana Kerr, St. Mary’s University

Ryan Lee, University of Calgary

Yuluen Ma, Illinois State University

Charles Nyce, University of Georgia

2001 Kathleen McCullough, Florida State University