Five U.S. researchers and one from the U.K. will be honored next week for their writings on insurance industry topics, The Geneva Association, Switzerland, and the International Insurance Society Inc. in New York announced.

Their research will be presented at the International Insurance Society's seminar July 16-19 in Chicago, and the award-winning papers will receive a $10,000 prize, the organizations said.

The three papers chosen are:

o “Investigating the development of Enterprise Risk Management in Insurance Industry: an empirical study on four major European Insurers,” Madhusudan Acharyya, University of Southampton, United Kingdom.

o “Integrated Risk Management in Life Insurance Companies,” Etti G. Baranoff, Virginia Commonwealth University, and Thomas W. Sager, University of Texas at Austin.

o “How Does Background Risk Affect Investment Risk-taking? Evidence from Insurers' Corporate Bond Portfolios,” Xuanjuan Chen, University of North Carolina College of Business; Tong Yao, University of Arizona, and Tong Yu, University of Rhode Island, USA.

The two nonprofit educational organizations awarding the prize said it is designed to foster high-quality practical research on current issues. The research program is supported by Kyobo Life, Korea; Munich Re, Germany; Partner Re, Bermuda; and The Starr Foundation, New York.

The Geneva Association, headed by Patrick Liedtke, secretary general, is supported by large worldwide private insurers. The International Insurance Society, headed by Patrick Kenny, president and chief executive officer, is a nonprofit corporation with almost 1,000 members from 90 countries.

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