1993: Health Insurance Derivatives: the Newest Application of Modern Financial Risk Management

  • James A. Hayes
  • Joseph B. Cole
  • David I. Meiselman


We are in the midst of a giant economic, business and financial revolution, particularly with respect to understanding and managing risk and uncertainty. The revolution is worldwide and is an important factor in globalizing markets. This revolution has significantly changed the way businesses and financial firms are managed, the way markets, products, and services are structured and analyzed, and the way economists and financial experts perform their analytical and operating tasks.


Loss Ratio Future Price Future Contract Claim Cost Pool Manager 
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  1. 1.
    For additional discussion of conditions for a successful futures contract, see Richard Sandor, “Financial Futures Markets,” Proceedings from Conference Honoring Dewey Daane, April 13, 1989; Vanderbilt University.Google Scholar

Copyright information

© James A. Hayes, Joseph B. Cole and David I. Meiselman 2016

Authors and Affiliations

  • James A. Hayes
    • 1
  • Joseph B. Cole
    • 2
  • David I. Meiselman
    • 3
  1. 1.James A. Hayes & Associates, Inc.USA
  2. 2.Kiddler, Peabody & Co.USA
  3. 3.Virginia Polytechnic Institute & State UniversityUSA

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