Knowledge & Expertise

Faculty and Instructors

Wisconsin School of Business

Mark Browne

Department Chair for Actuarial Science, Risk Management and Insurance

Professor - Actuarial Science, Risk Management & Insurance
Gerald D. Stephens CPCU Chair in Risk Management & Insurance

Mark Browne is the Gerald D. Stephens CPCU Professor of Risk Management and Insurance at the Wisconsin School of Business. He chairs the school’s Department of Actuarial Science, Risk Management and Insurance.

Browne is a past president of both the American Risk and Insurance Association (ARIA) and the Risk Theory Society (RTS). His research has appeared in the Journal of Risk and Insurance, the Journal of Insurance Regulation, the CPCU Journal, Inquiry, the Journal of Risk and Uncertainty, the Geneva Papers on Risk and Insurance Theory, the North American Actuarial Journal, and the Journal of Legal Studies. He is an associate editor of the Journal of Risk and Insurance.

Browne's research has examined issues including adverse selection in health insurance markets, the demand for property and liability insurance, the insurance underwriting cycle, insurer insolvencies, health insurance underwriting, and the demand for flood insurance. He has been awarded the Shin Award for Research Excellence by the International Insurance Society three times.

Browne has provided expert testimony on issues related to insurance and risk management. He has calculated damages in complex tort cases and defended his estimates. He has successfully led teams of assistants in support of his analyses. He testified before the United States Senate Committee on Banking, Housing and Urban Affairs on the future of the National Flood Insurance Program (NFIP).

He teaches courses in risk management, employee benefits, and health insurance at the Wisconsin School of Business. He has received the American Risk and Insurance Association (ARIA) Award for Teaching Excellence. In addition, he has received the Beta Gamma Sigma Dean’s Award for Teaching Excellence and the Lawrence J. Larson Excellence in Teaching Award from the Wisconsin School of Business.

Browne earned his Ph.D. from the University of Pennsylvania.
 

Selected Accepted Journal Articles

Browne, M., Ju, L., & Lei, Y. Reinsurance Purchases, Contingent Commission Payments and Insurer Reserve Estimation . The Geneva Papers on Risk and Insurance - Issues and Practice (forthcoming)
Browne, M., Pryor, E., & Puelz, R. The Effect of Bad Faith Laws on the Value of Economic and Non-Economic Damages,. Journal of Legal Studies (33)

Selected Published Journal Articles

Browne, M., & Kamiya, S. (2012). A Theory of the Demand for Underwriting. Journal of Risk and Insurance
Zhou-Richter, T., Browne, M., & Grundl, H. (2010). Don't They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long-Term Care Insurance". Journal of Risk and Insurance (77), 715-747.
Browne, M., Ma, Y., & Wang, P. (2009). Executive Stock Option Compensation and Reserve Errors in the Property and Casualty Insurance Industry. Journal of Insurance Regulation (27), 35-54.
Lei, Y., & Browne, M. (2008). Medical Malpractice Insurance Market Entry and Exit: 1994 - 2006. Journal of Insurance Regulation (27), 47-72.
Browne, M., & Schmit, J. (2008). Litigation Patterns in Automobile Bodily Injury Claims 1977-1997. Journal of Risk and Insurance (75), 83-100.
Browne, M., & . (2007). Equilibrium in an Insurance Market with Imperfect Information and Transaction Costs. Different titles First-Best Equilibrium in Insurance Markets with Transaction Costs and Heterogeneity . Journal of Risk and Insurance (74), 739-760.
Browne, M. (2006). Adverse Selection in the Long-Term Care Insurance Market,. Insurance: Theoretical Analysis and Policy Implications
Ma , Y., & Browne, M. (2005). Premium Cross-Subsidization and Choice in the Group Health Insurance Market,. Journal of Risk and Insurance
Browne, M., Pryor, E., & Puelz, R. (2004). The Effect of Bad-Faith Laws on First-Party Insurance Claims Decisions. Journal of Legal Studies (33), 335.
Browne, M. (2003). Risk Management and Insurance Research: 1980 - 2002. Risk Management and Insurance Review (6)
Browne, M., Carson, J., & Hoyt, R. (2001). Dynamic Financial Models of Life Insurers,. North American Actuarial Journal (5)
Rosenberg, M., & Browne, M. (2001). The Impact of the Inpatient Prospective Payment System and Diagnosis Related Groups: A Survey of the Literature. North American Actuarial Journal (5)
, & Browne, M. (2000). Equilibrium in Competitive Insurance Markets Under Adverse Selection and Yaari's Dual Theory of Risk. The Geneva Papers on Risk and Insurance - Theory (25)
Browne, M., Jaewook, C., & Frees, E. (2000). International Property-Liability Insurance Consumption. Journal of Risk and Insurance (67), 18.
Browne, M., & Robert, H. (2000). The Demand for Flood Insurance: Empirical Evidence. Journal of Risk and Uncertainty (20), 16.
Browne, M., & Anderson, D. (1996). Managed Care in Workers Compensation. CPCU Journal (49)

Selected Submitted Journal Articles

Browne, M., Ma, Y., & Wang, P. (2008). Executive Compensation and Reserve Errors in the Property and Casualty Insurance Industry. Journal of Risk and Insurance

Submitted Working Papers

Browne, M., Dehring, C., Eckles, D., & Lastrapes, W. Does National Flood Insurance Program Participation Induce Excessive Development in High-Risk Areas? Evidence from Florida Counties.
Frees, E., & Browne, M. Prohibitions on Health Insurance Underwriting: A Means of Making Health Insurance Available Or a Cause of Market Failure?.

Undergraduate Courses

Employee Benefits Managemnt (RMI 620 Section 94), Fall 2011.



Graduate Courses

Smr-Act Sci,Risk Mgmt & Ins II (RMI 930 Section 3), Fall 2011.



Presentations

American Risk and Insurance Association
Reserve Errors and Stock Options

American Risk and Insurance Association
On the Escalating Medical Malpractice Insurance Premium Rates

American Risk and Insurance Association
Insurance Claims and Legal Filings: Trends from 1977-1997

American Risk and Insurance Association Annual Meeting
Managing Flood Risk: A Discussion of The National Flood Insurance Program and Alternatives

Annual Meeting of the Geneva Association
The Effect of Bad Faith Laws on the Value of Economic and Non-Economic Damages

ARIA Annual Meeting
Adverse Selection with Underwriting Costs

ARIA Annual Meeting
Executive Compensation and Reserve Errors in the Property and Casualty Insurance Industry

ARIA Annual Meeting
Coalition Proof Incentives and the Use of Contingent Commissions: Evidence from the Insurance Underwriting Cycle

ARIA Annual Meeting
Reinsurance Purchases as a Financial Market Signal: Evidence from Reserve Estimation

ARIA Annual Meeting
Contingent Commissions and Market Cycles

ARIA Annual Meeting
The Effect of Organizational Form and Market Concentration on Automobile Insurance Claims Settlement

ARIA Annual Meeting
Do They Know At All? Analyzing Children's Exposure to Their Parents' Long-Term Care Risk

ASSA
One-Sided Commitment in Dynamic Insurance Contracts: Evidence from Private Health Insurance in Germany

ASSA
Does National Flood Insurance Program Participation Induce Excessive Development in High-Risk Areas? Evidence from Florida Counties

CESifo Conference
Adverse Selection in the Long-Term Care Insurance Market

EGRIE Annual Meeting
The Demand for Underwriting

European Group of Risk and Insurance Economists
Insurance Claims and Legal Filings: Trends from 1977-1997

European Group of Risk and Insurance Economists Annual Meeting
Don't They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long-Term Care Insurance

German Risk and Insurance Association (Jahrestagung)
Are they aware, do they care? Analyzing adult children's demand for insuring their parents' long-term care risk

International Insurance Society, Inc.
Adverse Selection in the Long-Term Care Insurance Market

International Insurance Society, Inc.
Stock Options and Reserve Errors

International Insurance Society, Inc.
Insurance Claims and Legal Filings: Trends from 1977-1997

Private Markets and Public Insurance Programs
Managing Flood Risk: A Discussion of the National Flood Insurance Program and Alternatives

Program Seminar
Litigation Patterns in Auto BI Claims 1977-97

Risk Theory Seminar
A Theory of the Demand for Underwriting

SCOR - Journal of Risk and Insurance Conference
Reinsurance Purchases as a Financial Market Signal: Evidence from Reserve Estimation

The 8th Risk Management Theory Seminar
Insurance Economics and Social Policy

World Risk and Insurance Economics Congress
The Bowman Paradox in the U.S. Property and Casualty Insurance Industry

Photograph of Mark Browne

Mark Browne

Department Chair for Actuarial Science, Risk Management and Insurance
 
Professor | Actuarial Science, Risk Management & Insurance
Gerald D. Stephens CPCU Chair in Risk Management & Insurance
(608) 263-3030
5295 Grainger Hall