Knowledge & Expertise

Faculty and Instructors

Wisconsin School of Business

Martin Halek

Senior Lecturer - Actuarial Science, Risk Management & Insurance

Dr. Martin Halek (Ph.D., Wharton School, University of Pennsylvania, M.S., University of Wisconsin-Madison, and B.A., Whitman College) joined the Actuarial Science, Risk Management and Insurance Department at the University of Wisconsin in January 2008. Prior to this position, he was an assistant professor at the University of Georgia and the University of North Carolina – Charlotte. Dr. Halek has published and refereed articles in a number of peer-reviewed journals and is a member of several professional organizations. His areas of research include insurance economics, insurer ratings and financial markets, insurer loss reserving practices, adverse selection, hazard risk assessment, and transitioning insurance markets of Eastern Europe.
 

Selected Published Journal Articles

Eckles, D., Halek, M., He, E., Sommer, D., & Zhang, R. (2011). Earnings Smoothing, Executive Compensation, and Corporate Governance: Evidence from the Property-Liability Insurance Industry. Journal of Risk and Insurance (78), 761-790.
Halek, M., & Eckles, D. (2010). Effects of Analysts’ Ratings on Insurer Stock Returns: Evidence of Asymmetric Responses. Journal of Risk and Insurance (77), 801-827.
Eckles, D., & Halek, M. (2010). Insurer Reserve Error and Executive Compensation. Journal of Risk and Insurance (77), 329-346.
Venard, B., Halek, M., & Dorfman, M. (2008). The Hungarian Insurance Market: Economic Transition in the Insurance Sector. Risk Management and Insurance Review (11), 377-396.
Eckles, D., & Halek, M. (2007). The Problem of Asymmetric Information: A Simulation of How Insurance Markets Can Be Inefficient. Risk Management and Insurance Review (10), 93-105.
Eckles, D., Halek, M., & Wells, W. (2006). Making the Mortgage Insurance Purchase Decision. Journal of Financial Planning (19), 66-73.
Halek, M., & Eisenhauer, J. (2001). Demography of Risk Aversion. Journal of Risk and Insurance (68), 1-24.
Eisenhauer, J., & Halek, M. (1999). Prudence, Risk Aversion, and the Demand for Life Insurance. Applied Economics Letters (6), 239-242.

Selected Submitted Journal Articles

Eckles, D., & Halek, M. (2012). Determinants of Abnormal Reactions to Ratings Downgrades: An Investigation of Insurer Ratings. Journal of Risk and Insurance
Dehring, C., & Halek, M. (2008). Do Coastal Building Codes Mitigate Hurricane Damage to Residential Property?. Land Economics

Submitted Working Papers

Carson, J., Dumm, R., Halek, M., & Liebenberg, A. Consumer Financial Decisions and Risk Aversion.

Undergraduate Courses

Principles of Risk Management
Course DescriptionPrecedes advanced work in insurance; the nature of risk, principal techniques of risk management and the bases for decision making in management of business and personal risks.
(RMI 300 Section 1), Fall 2011.

Contemporary Topics
Course DescriptionA course for the exploration of subject areas possibly to be introduced into the business curriculum.
(RMI 365 Section 1), Fall 2011.

Liability Risk Management
Course DescriptionComprehensive analysis of economic services, benefits, rates and rating theory, loss adjustment problems, legal theory factors, risk management concepts, loss prevention and transfer techniques and government regulation of public liability insurance. Topi
(RMI 615 Section 1), Fall 2011.

Principles of Risk Management
Course DescriptionPrecedes advanced work in insurance; the nature of risk, principal techniques of risk management and the bases for decision making in management of business and personal risks.
(RMI 300 Section 1), Summer 2011. Download Syllabus

Loss Models II
Course DescriptionThis course continues a study of the loss modeling processes introduced in Loss Models I. After a review of mathematical statistics, we will examine the application of statistical methods to sample data to both calibrate and evaluate the various models presented. Credibility theory and the valuation of financial derivatives will also be discussed. Throughout the semester students will have the opportunity to demonstrate their understanding through practice problems, quizzes, computer assignments and exams. The course is guided toward the professional actuarial exams; however, the actuarial exams will not determine the entire content or pace of the class. The course syllabus provides a general plan for the course; deviations announced to the class by the professor may be necessary.
(ACT 653 Section 1), Spring 2011. Download Syllabus

Principles of Risk Management
Course DescriptionThis course provides an introduction to the different types of risks faced by businesses and individuals along with alternative methods of treating such risks. We will examine applications of these methods with regards to life, health, property, casualty and liability exposures. First, we will gain a clear understanding of risk, the risk management process and risk analysis. Next, we will investigate noninsurance risk management techniques followed by a discussion of insurance. We will also examine contemporary issues and challenges in risk management and insurance. Time permitting, the ultimate section of the course will cover individual and corporate risk management decision making. This course is designed for non-majors as well as a foundation for more advanced risk management and insurance courses. The course syllabus is a general plan for the course; deviations announced to the class by the instructor may be necessary.
(RMI 300 Section 1), Spring 2011. Download Syllabus

Contemporary Topics
Course DescriptionThis course provides a unique, structured leadership learning experience for officers of the Actuarial Science Club and Risk Management Insurance Society. Officers will have the opportunity to improve their own leadership skills and better fulfill their duties as club officers. Club goals can be set and measured to determine success. The course allows officers to have a regular place for weekly meetings and allows for better coordination across both clubs. Both faculty advisors co-teach this course to facilitate improved communication between the clubs and the advisors. This course is required for all officers of the Actuarial Science Club and Risk Management Insurance Society.
(RMI 365 Section 1), Spring 2011.



Professional Organizations

American Risk and Insurance Association


Presentations

American Risk and Insurance Association Annual Meeting
Determinants of Abnormal Reactions to Ratings Downgrades: An Investigation of Insurer Ratings

GISA Annual Meeting
An Empirical Analysis of Consumer Financial Decisions and Risk Aversion

World Risk and Insurance Economics Congress
An Examination of Adverse Selection in Residual Markets

Audencia Research Seminar
Effects of Analysts’ Ratings on Insurer Stock Returns: Evidence of Asymmetric Responses

GISA Annual Meeting
An Examination of Adverse Selection in Residual Markets

American Risk and Insurance Association Annual Meeting
Information Risk and the Price of Insurance

American Risk and Insurance Association Annual Meeting
On Predicting Property-Liability Insurer Downgrades: The Power of Accounting and Market Information

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

Faculdade de Ciências Económicas e Empresariais Seminar Series
Earnings Smoothing, Executive Compensation, and Corporate Governance: Evidence from the Property-Liability Insurance Industry

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

Southern Risk and Insurance Association Annual Meeting
On Predicting Property-Liability Insurer Downgrades: The Power of Accounting and Market Information

Southern Risk and Insurance Association Annual Meeting
Information Risk and the Price of Insurance

Department of Actuarial Science, Risk Management and Insurance Seminar Series
Information Risk and the Price of Insurance

American Risk and Insurance Association Annual Meeting
Effects of Analysts’ Ratings on Insurer Stock Returns: Evidence of Asymmetric Responses

Department of Actuarial Science, Risk Management and Insurance Seminar Series
Do Coastal Building Codes Mitigate Hurricane Damage to Residential Property?

Southern Risk and Insurance Association Annual Meeting
An Examination of Adverse Selection Behavior in the Residual Market

Southern Risk and Insurance Association Annual Meeting
Earnings Smoothing, Executive Compensation, and Corporate Governance: Evidence from the Property-Liability Insurance Industry

American Risk and Insurance Association Annual Meeting
Earnings Smoothing, Executive Compensation, and Corporate Governance: Evidence from the Property-Liability Insurance Industry

Western Risk and Insurance Association Annual Meeting
An Examination of Adverse Selection Behavior in the Residual Market

Southern Risk and Insurance Association Annual Meeting
Do Coastal Building Codes Mitigate Hurricane Damage to Residential Property?

Southern Risk and Insurance Association Annual Meeting
Effects of Ratings on Insurer Stock Returns: Are Best Ratings Senior to Bond Ratings?

American Risk and Insurance Association Annual Meeting
Do Coastal Building Codes Mitigate Hurricane Damage to Residential Property?

American Risk and Insurance Association Annual Meeting
The Problem of Asymmetric Information: A Simulation of How Insurance Markets Can Be Inefficient

Southern Risk and Insurance Association Annual Meeting
Insurer Reserve Error and Executive Compensation

World Risk and Insurance Economics Congress
Insurer Reserve Error and Executive Compensation

Southern Risk and Insurance Association Annual Meeting
On the Mortgage Insurance Purchase Decision

American Risk and Insurance Association Annual Meeting
Insurance Consumption of Central and Eastern European Countries in Transition

American Risk and Insurance Association Annual Meeting
On the Mortgage Insurance Purchase Decision

Southern Risk and Insurance Association Annual Meeting
Crowd Out Effects of Social Security on Life Insurance Demand: An Examination of the Health and Retirement Study Data

Southern Risk and Insurance Association Annual Meeting
Insurance Consumption of Central and Eastern European Countries in Transition

American Risk and Insurance Association Annual Meeting
Crowd Out Effects of Social Security on Life Insurance Demand: An Examination of the Health and Retirement Study Data

Department of Finance and Business Law Seminar Series
Measuring Individual Risk Aversion: An Examination of the Health and Retirement Study Data

Southern Risk and Insurance Association Annual Meeting
Examining the Social Security Payroll Tax: Is An Age-Weighted Taxation Scheme Optimal?

American Risk and Insurance Association Annual Meeting
An Analysis of Stockholder Dividend Payout Policies of Publicly Traded Insurers

American Risk and Insurance Association Annual Meeting
Examining the Social Security Payroll Tax: Is An Age-Weighted Taxation Scheme Optimal?

Risk Management and Insurance Seminar Series
Measuring Individual Risk Aversion: An Examination of the Health and Retirement Study Data

Rosen – Huebner – McCahan Seminar Series
Demography of Risk Aversion

Rosen – Huebner – McCahan Seminar Series
Effects of Analysts’ Ratings on Stock Returns: Evidence from the Insurance Industry

American Risk and Insurance Association Annual Meeting
Effects of Analysts’ Ratings on Stock Returns: Evidence from the Insurance Industry

American Risk and Insurance Association Annual Meeting
Demography of Risk Aversion

Editorial Boards

Risk Management and Insurance Review - September 2007 - January 2008
Other

Photograph of Martin Halek

Martin Halek

 
Senior Lecturer | Actuarial Science, Risk Management & Insurance
(608) 262-1848
5299 Grainger Hall