Details about John Cummins

Homepage:	http://fic.wharton.upenn.edu/fic/
Phone:	2158985644
Postal address:	Wharton School 3641 Locust Walk Philadelphia, PA 19104
Workplace:	Fox School of Business and Management, Temple University, (more information at EDIRC)

Access statistics for papers by John Cummins.

Last updated 2024-12-06. Update your information in the RePEc Author Service.

Short-id: pcu15

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Working Papers

2013

1. Systemic Risk and Regulation of the U.S. Insurance Industry
   NFI Policy Briefs, Indiana State University, Scott College of Business, Networks Financial Institute View citations (9)

2008

2. Insurance market dynamics: Between global developments and local contingencies
   Post-Print, HAL View citations (11)
   Also in Post-Print, HAL (2008) View citations (11)
   See also Journal Article Insurance Market Dynamics: Between Global Developments and Local Contingencies, Risk Management and Insurance Review, American Risk and Insurance Association (2008) View citations (12) (2008)
3. The Costs and Benefits of Reinsurance
   Cahiers de recherche, HEC Montréal, Institut d'économie appliquée View citations (11)

2007

4. Handbook of international insurance. Between global dynamics and local contingencies
   Post-Print, HAL View citations (17)

2006

5. Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities
   Cahiers de recherche, CIRPEE View citations (10)
   Also in Cahiers de recherche, HEC Montréal, Institut d'économie appliquée (2006) View citations (5)
   See also Journal Article Efficiency of insurance firms with endogenous risk management and financial intermediation activities, Journal of Productivity Analysis, Springer (2009) View citations (19) (2009)

2004

6. An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
   See also Journal Article An empirical analysis of the economic impact of federal terrorism reinsurance, Journal of Monetary Economics, Elsevier (2004) View citations (40) (2004)
7. International Comparison of Interest Rate Guarantees in Life Insurance
   Discussion Papers, Norwegian School of Economics, Department of Business and Management Science View citations (7)

2002

8. Catastrophic Events, Parameter Uncertainty and the Breakdown of Implicit Long-term Contracting in the Insurance Market: The Case of Terrorism Insurance
   Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (3)

2001

9. Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry
   Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (9)
   See also Journal Article Deregulation, Consolidation, and Efficiency: Evidence from the Spanish Insurance Industry, Journal of Money, Credit and Banking, Blackwell Publishing (2006) View citations (85) (2006)

2000

10. Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (110)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (3)
    See also Journal Article Conglomeration versus Strategic Focus: Evidence from the Insurance Industry, Journal of Financial Intermediation, Elsevier (2000) View citations (109) (2000)
11. The Basis Risk of Catastrophic-Loss Index Securities
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (15)
    See also Journal Article The basis risk of catastrophic-loss index securities, Journal of Financial Economics, Elsevier (2004) View citations (65) (2004)

1999

12. Can Insurers Pay for the "Big One"? Measuring the Capacity of an Insurance Market to Respond to Catastrophic Losses
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (18)
    See also Journal Article Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses, Journal of Banking & Finance, Elsevier (2002) View citations (56) (2002)
13. The Incentive Effects of No Fault Automobile Insurance
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (6)
    See also Journal Article The Incentive Effects of No-Fault Automobile Insurance, Journal of Law and Economics, University of Chicago Press (2001) View citations (22) (2001)

1998

14. Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (28)
15. Consolidation and Efficiency in the U.S. Life Insurance Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (1)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1998) View citations (15)
    See also Journal Article Consolidation and efficiency in the US life insurance industry, Journal of Banking & Finance, Elsevier (1999) View citations (93) (1999)
16. Derivatives and Corporate Risk Management: Participation and Volume Decisions in the Insurance Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (17)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (1997)
17. Organizational Form and Efficiency: An Analysis of Stock and Mutual Property-Liability Insurers
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (15)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1998) View citations (2)
18. Pricing Excess-of-loss Reinsurance Contracts Against Catastrophic Loss
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (21)
    See also Chapter Pricing Excess-of-Loss Reinsurance Contracts against Cat as trophic Loss, NBER Chapters, National Bureau of Economic Research, Inc (1999) View citations (4) (1999)
19. Regulatory solvency prediction in property-liability insurance: risk-based capital, audit ratios, and cash flow simulation
    Working Papers, Federal Reserve Bank of Philadelphia View citations (21)

1997

20. Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (14)
    See also Journal Article Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry, Journal of Productivity Analysis, Springer (1998) View citations (119) (1998)

1996

21. Corporate Hedging in the Insurance Industry: The Use of Financial Derivatives by U.S. Insurers
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (4)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (1996) View citations (6)
22. Financial Pricing of Insurance in the Multiple Line Insurance Company
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (28)
23. Productivity and Technical Efficiency in the Italian Insurance Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (26)

1995

24. The Coexistence of Multiple Distributions Systems for Financial Services: The Case of Property-Liability Insurance
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (9)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1995) View citations (12)
    See also Journal Article The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance, The Journal of Business, University of Chicago Press (1997) View citations (91) (1997)
25. nsolvency Experience, Risk-Based Capital, and Prompt Corrective Action in Property-Liability Insurance
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (9)
    See also Journal Article Insolvency experience, risk-based capital, and prompt corrective action in property-liability insurance, Journal of Banking & Finance, Elsevier (1995) View citations (54) (1995)

1993

26. An Asian Option to the Valuation of Insurance Futures Contracts
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (5)
27. The Tort System "Lottery" and Insurance Fraud
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (2)

1988

28. APPLICATIONS OF THE GB2 FAMILY OF DISTRIBUTIONS IN THE MODELING INSURANCE LOSS PROCESSE
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1988)
    See also Journal Article Applications of the GB2 family of distributions in modeling insurance loss processes, Insurance: Mathematics and Economics, Elsevier (1990) View citations (39) (1990)

1987

29. Applications of the Gb2 Family of Probability Distributions in Collective Risk Theory
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques

1972

30. A Comparison of Some Limited Information Estimators for Dynamic Simultaneous Equations Models with Autocorrelated Errors
    UCLA Economics Working Papers, UCLA Department of Economics
    See also Journal Article A Comparison of Some Limited Information Estimators for Dynamic Simultaneous Equations Models with Autocorrelated Errors, Econometrica, Econometric Society (1974) (1974)

Journal Articles

2015

1. Mergers and Acquisitions in the Global Insurance Industry: Valuation Effects
   The Geneva Papers on Risk and Insurance - Issues and Practice, 2015, 40, (3), 444-473 View citations (6)

2014

2. Introduction: Symposium on Convergence, Interconnectedness, and Crises: Insurance and Banking
   Journal of Risk & Insurance, 2014, 81, (3), 473-476
3. Systemic Risk and The U.S. Insurance Sector
   Journal of Risk & Insurance, 2014, 81, (3), 489-528 View citations (54)
4. Systemic Risk and the Interconnectedness Between Banks and Insurers: An Econometric Analysis
   Journal of Risk & Insurance, 2014, 81, (3), 623-652 View citations (83)

2013

5. Efficiency, productivity, and scale economies in the U.S. property-liability insurance industry
   Journal of Productivity Analysis, 2013, 39, (2), 141-164 View citations (28)

2010

6. Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry
   Journal of Banking & Finance, 2010, 34, (7), 1525-1539 View citations (90)
7. Longevity bond premiums: The extreme value approach and risk cubic pricing
   Insurance: Mathematics and Economics, 2010, 46, (1), 150-161 View citations (21)
8. Performance measurement in the financial services sector: Frontier efficiency methodologies and other innovative techniques
   Journal of Banking & Finance, 2010, 34, (7), 1413-1416 View citations (8)

2009

9. Convergence of Insurance and Financial Markets: Hybrid and Securitized Risk‐Transfer Solutions
   Journal of Risk & Insurance, 2009, 76, (3), 493-545 View citations (101)
10. Efficiency of insurance firms with endogenous risk management and financial intermediation activities
    Journal of Productivity Analysis, 2009, 32, (2), 145-159 View citations (19)
    See also Working Paper Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities, Cahiers de recherche (2006) View citations (10) (2006)
11. Securitization, Insurance, and Reinsurance
    Journal of Risk & Insurance, 2009, 76, (3), 463-492 View citations (49)

2008

12. CAT Bonds and Other Risk‐Linked Securities: State of the Market and Recent Developments
    Risk Management and Insurance Review, 2008, 11, (1), 23-47 View citations (68)
13. Dynamics of insurance markets: Structure, conduct, and performance in the 21st century
    Journal of Banking & Finance, 2008, 32, (1), 1-3
14. Hedging under counterparty credit uncertainty
    Journal of Futures Markets, 2008, 28, (3), 248-263 View citations (5)
15. Insurance Market Dynamics: Between Global Developments and Local Contingencies
    Risk Management and Insurance Review, 2008, 11, (2), 295-326 View citations (12)
    See also Working Paper Insurance market dynamics: Between global developments and local contingencies, Post-Print (2008) View citations (11) (2008)
16. Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects
    Journal of Banking & Finance, 2008, 32, (1), 30-55 View citations (76)

2007

17. Reinsurance for Natural and Man‐Made Catastrophes in the United States: Current State of the Market and Regulatory Reforms
    Risk Management and Insurance Review, 2007, 10, (2), 179-220 View citations (15)
18. Risky Loss Distributions and Modeling the Loss Reserve Pay-out Tail
    Review of Applied Economics, 2007, 03, (01-2), 23 View citations (4)

2006

19. Deregulation, Consolidation, and Efficiency: Evidence from the Spanish Insurance Industry
    Journal of Money, Credit and Banking, 2006, 38, (2), 323-355 View citations (85)
    See also Working Paper Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry, Center for Financial Institutions Working Papers (2001) View citations (9) (2001)
20. Introduction: Special section on operational risk
    Journal of Banking & Finance, 2006, 30, (10), 2599-2604 View citations (2)
21. Should the government provide insurance for catastrophes?
    Review, 2006, 88, (Jul), 337-380 View citations (21)
22. The Economics of Insurance Intermediaries
    Journal of Risk & Insurance, 2006, 73, (3), 359-396 View citations (46)
23. The Insurance Brokerage Industry Post‐October 2004
    Risk Management and Insurance Review, 2006, 9, (2), 89-108 View citations (1)
24. The market value impact of operational loss events for US banks and insurers
    Journal of Banking & Finance, 2006, 30, (10), 2605-2634 View citations (89)

2005

25. Convergence in Wholesale Financial Services: Reinsurance and Investment Banking
    The Geneva Papers on Risk and Insurance - Issues and Practice, 2005, 30, (2), 187-222 View citations (7)
26. Estimating the Cost of Equity Capital for Property‐Liability Insurers
    Journal of Risk & Insurance, 2005, 72, (3), 441-478 View citations (23)
27. Securitization of Life Insurance Assets and Liabilities
    Journal of Risk & Insurance, 2005, 72, (2), 193-226 View citations (59)

2004

28. An empirical analysis of the economic impact of federal terrorism reinsurance
    Journal of Monetary Economics, 2004, 51, (5), 861-898 View citations (40)
    See also Working Paper An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance, NBER Working Papers (2004) View citations (41) (2004)
29. The Demand for Insurance With an Upper Limit on Coverage
    Journal of Risk & Insurance, 2004, 71, (2), 253-264 View citations (35)
30. The basis risk of catastrophic-loss index securities
    Journal of Financial Economics, 2004, 71, (1), 77-111 View citations (65)
    See also Working Paper The Basis Risk of Catastrophic-Loss Index Securities, Center for Financial Institutions Working Papers (2000) View citations (15) (2000)
31. The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry
    Journal of Banking & Finance, 2004, 28, (12), 3113-3150 View citations (64)

2003

32. Catastrophic Events, Parameter Uncertainty and the Breakdown of Implicit Long-Term Contracting: The Case of Terrorism Insurance
    Journal of Risk and Uncertainty, 2003, 26, (2-3), 153-78 View citations (34)
33. Optimal Insurance with Divergent Beliefs about Insurer Total Default Risk
    Journal of Risk and Uncertainty, 2003, 27, (2), 121-38 View citations (33)
34. Ownership Structure Changes in the Insurance Industry: An Analysis of Demutualization
    Journal of Risk & Insurance, 2003, 70, (3), 401-437 View citations (29)

2002

35. Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses
    Journal of Banking & Finance, 2002, 26, (2-3), 557-583 View citations (56)
    See also Working Paper Can Insurers Pay for the "Big One"? Measuring the Capacity of an Insurance Market to Respond to Catastrophic Losses, Center for Financial Institutions Working Papers (1999) View citations (18) (1999)
36. Capitalization of the Property-Liability Insurance Industry: Overview
    Journal of Financial Services Research, 2002, 21, (1), 5-14 View citations (12)
37. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry
    Journal of Financial Services Research, 2002, 21, (1), 15-53 View citations (73)

2001

38. The Incentive Effects of No-Fault Automobile Insurance
    Journal of Law and Economics, 2001, 44, (2), 427-64 View citations (22)
    See also Working Paper The Incentive Effects of No Fault Automobile Insurance, Center for Financial Institutions Working Papers (1999) View citations (6) (1999)

2000

39. Allocation of Capital in the Insurance Industry
    Risk Management and Insurance Review, 2000, 3, (1), 7-27 View citations (18)
40. Conglomeration versus Strategic Focus: Evidence from the Insurance Industry
    Journal of Financial Intermediation, 2000, 9, (4), 323-362 View citations (109)
    See also Working Paper Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry, Center for Financial Institutions Working Papers (2000) View citations (110) (2000)

1999

41. Consolidation and efficiency in the US life insurance industry
    Journal of Banking & Finance, 1999, 23, (2-4), 325-357 View citations (93)
    See also Working Paper Consolidation and Efficiency in the U.S. Life Insurance Industry, Center for Financial Institutions Working Papers (1998) View citations (1) (1998)
42. Organizational Form and Efficiency: The Coexistence of Stock and Mutual Property-Liability Insurers
    Management Science, 1999, 45, (9), 1254-1269 View citations (111)

1998

43. Alternative Models for Estimating the Cost of Equity Capital for Property/Casualty Insurers
    Review of Quantitative Finance and Accounting, 1998, 10, (3), 235-67 View citations (1)
44. Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry
    Journal of Productivity Analysis, 1998, 10, (2), 131-152 View citations (119)
    See also Working Paper Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry, Center for Financial Institutions Working Papers (1997) View citations (14) (1997)
45. The rise of risk management
    Economic Review, 1998, 83, (Q 1), 30-40 View citations (11)

1997

46. Price, Financial Quality, and Capital Flows in Insurance Markets
    Journal of Financial Intermediation, 1997, 6, (1), 3-38 View citations (107)
47. The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance
    The Journal of Business, 1997, 70, (4), 515-46 View citations (91)
    See also Working Paper The Coexistence of Multiple Distributions Systems for Financial Services: The Case of Property-Liability Insurance, Center for Financial Institutions Working Papers (1995) View citations (9) (1995)

1996

48. Capital and risk in property-liability insurance markets
    Journal of Banking & Finance, 1996, 20, (6), 1069-1092 View citations (94)
49. Moral Hazard in Insurance Claiming: Evidence from Automobile Insurance
    Journal of Risk and Uncertainty, 1996, 12, (1), 29-50 View citations (49)

1995

50. Insolvency experience, risk-based capital, and prompt corrective action in property-liability insurance
    Journal of Banking & Finance, 1995, 19, (3-4), 511-527 View citations (54)
    See also Working Paper nsolvency Experience, Risk-Based Capital, and Prompt Corrective Action in Property-Liability Insurance, Center for Financial Institutions Working Papers (1995) View citations (9) (1995)

1994

51. Capital structure and the cost of equity capital in the property-liability insurance industry
    Insurance: Mathematics and Economics, 1994, 15, (2-3), 187-201 View citations (13)
52. Tax management and investment strategies of property-liability insurers
    Journal of Banking & Finance, 1994, 18, (1), 43-72 View citations (17)

1993

53. Measuring cost efficiency in the property-liability insurance industry
    Journal of Banking & Finance, 1993, 17, (2-3), 463-481 View citations (71)

1992

54. Adverse Selection and Equilibrium in Liability Insurance Markets
    Journal of Risk and Uncertainty, 1992, 5, (3), 273-88 View citations (1)
55. Controlling Automobile Insurance Costs
    Journal of Economic Perspectives, 1992, 6, (2), 95-115 View citations (38)
56. Reinsurance and the Liability Insurance Crisis
    Journal of Risk and Uncertainty, 1992, 5, (3), 253-72 View citations (43)

1991

57. The Effects of No Fault on Automobile Insurance Loss Costs
    The Geneva Papers on Risk and Insurance - Issues and Practice, 1991, 16, (1), 20-38 View citations (5)
58. The structure, conduct, and regulation of the property-liability insurance industry
    Conference Series ; [Proceedings], 1991, 35, 117-164 View citations (9)

1990

59. Applications of the GB2 family of distributions in modeling insurance loss processes
    Insurance: Mathematics and Economics, 1990, 9, (4), 257-272 View citations (39)
    See also Working Paper APPLICATIONS OF THE GB2 FAMILY OF DISTRIBUTIONS IN THE MODELING INSURANCE LOSS PROCESSE, Cahiers de recherche (1988) (1988)

1985

60. Forecasting automobile insurance paid claim costs using econometric and ARIMA models
    International Journal of Forecasting, 1985, 1, (3), 203-215 View citations (5)

1984

61. Some microeconomic evidence concerning the determinants of saving through private pension funds in the U.S
    Economics Letters, 1984, 15, (3-4), 351-356

1981

62. Portfolio Optimization Models for Property-Liability Insurance Companies: An Analysis and Some Extensions
    Management Science, 1981, 27, (4), 414-430 View citations (6)

1979

63. A Note on the Relative Efficiency of Property-Liability Insurance Distribution Systems
    Bell Journal of Economics, 1979, 10, (2), 709-719 View citations (38)

1974

64. A Comparison of Some Limited Information Estimators for Dynamic Simultaneous Equations Models with Autocorrelated Errors
    Econometrica, 1974, 42, (2), 311-32
    See also Working Paper A Comparison of Some Limited Information Estimators for Dynamic Simultaneous Equations Models with Autocorrelated Errors, UCLA Economics Working Papers (1972) (1972)

Books

2009

1. Catastrophe Risk Financing in Developing Countries: Principles for Public Intervention
   World Bank Publications - Books, The World Bank Group View citations (53)

Chapters

1999

1. Pricing Excess-of-Loss Reinsurance Contracts against Cat as trophic Loss
   A chapter in The Financing of Catastrophe Risk, 1999, pp 93-148 View citations (4)
   See also Working Paper Pricing Excess-of-loss Reinsurance Contracts Against Catastrophic Loss, Wharton School Center for Financial Institutions, University of Pennsylvania (1998) View citations (21) (1998)

1975

2. Federal Financial Exposure to Natural Catastrophe Risk
   A chapter in Measuring and Managing Federal Financial Risk, 1975, pp 61-92