The demand for homeowners insurance with bundled catastrophe coverages : Wharton project on managing catastrophic risks

In this paper, we estimate the demand for homeowner insurance in Florida. Since we are interested in a number of factors influencing demand, we approach the problem from two directions. We first estimate two hedonic equations representing the premium per contract and the price mark-up. We analyze how the contracts are bundled and how contract provisions, insurer characteristics and insured risk characteristics and demographics influence the premium per contract and the price mark-up. Second, we estimate the demand for homeowners insurance using two-stage least squares regression. We employ ISO's indicated loss costs as our proxy for real insurance services demanded. We assume that the demand for coverage is essentially a joint demand and thus we can estimate the demand for catastrophe coverage separately from the demand for noncatastrophe coverage. We determine that price elasticities are less elastic for catastrophic coverage than for non-catastrophic coverage. Further estimated income elasticities suggest that homeowners insurance is an inferior good. Finally, we conclude based on the results of a selection model that our sample of ISO reporting companies well represents the demand for insurance in the Florida market as a whole

The Demand for Homeowners Insurance with Bundled Catastrophe Coverage

This paper analyzes the demand for homeowners insurance in markets subject to catastrophe losses and where consumers have choices in configuring their coverage for catastrophe and non-catastrophe perils. We estimate the demand for homeowner insurance in Florida and New York using two-stage least squares regression with advisory indicated loss costs as our proxy for the quantity of real insurance services demanded. We decompose the demand for insurance into the demand for coverage of catastrophe perils (i.e., hurricanes or windstorms) and the demand for non-catastrophe coverage and estimate these demand functions separately. Our results are relatively consistent in New York and Florida, including evidence that catastrophe demand is more price elastic than non-catastrophe demand. We also find evidence that consumers value options that expand coverage, buy more insurance when it is subsidized through regulatory price constraints, and consider state guaranty fund provisions when purchasing insurance.

Testing limits to airflow perturbation device (APD) measurements

<p>Abstract</p> <p>Background</p> <p>The Airflow Perturbation Device (APD) is a lightweight, portable device that can be used to measure total respiratory resistance as well as inhalation and exhalation resistances. There is a need to determine limits to the accuracy of APD measurements for different conditions likely to occur: leaks around the mouthpiece, use of an oronasal mask, and the addition of resistance in the respiratory system. Also, there is a need for resistance measurements in patients who are ventilated.</p> <p>Method</p> <p>Ten subjects between the ages of 18 and 35 were tested for each station in the experiment. The first station involved testing the effects of leaks of known sizes on APD measurements. The second station tested the use of an oronasal mask used in conjunction with the APD during nose and mouth breathing. The third station tested the effects of two different resistances added in series with the APD mouthpiece. The fourth station tested the usage of a flexible ventilator tube in conjunction with the APD.</p> <p>Results</p> <p>All leaks reduced APD resistance measurement values. Leaks represented by two 3.2 mm diameter tubes reduced measured resistance by about 10% (4.2 cmH₂O·sec/L for control and 3.9 cm H₂O·sec/L for the leak). This was not statistically significant. Larger leaks given by 4.8 and 6.4 mm tubes reduced measurements significantly (3.4 and 3.0 cm cmH₂O·sec/L, respectively). Mouth resistance measured with a cardboard mouthpiece gave an APD measurement of 4.2 cm H₂O·sec/L and mouth resistance measured with an oronasal mask was 4.5 cm H₂O·sec/L; the two were not significantly different. Nose resistance measured with the oronasal mask was 7.6 cm H₂O·sec/L. Adding airflow resistances of 1.12 and 2.10 cm H₂O·sec/L to the breathing circuit between the mouth and APD yielded respiratory resistance values higher than the control by 0.7 and 2.0 cm H₂O·sec/L. Although breathing through a 52 cm length of flexible ventilator tubing reduced the APD measurement from 4.0 cm H₂O·sec/L for the control to 3.6 cm H₂O·sec/L for the tube, the difference was not statistically significant.</p> <p>Conclusion</p> <p>The APD can be adapted for use in ventilated, unconscious, and uncooperative patients with use of a ventilator tube and an oronasal mask without significantly affecting measurements. Adding a resistance in series with the APD mouthpiece has an additive effect on resistance measurements, and can be used for qualitative calibration. A leak size of at least the equivalent of two 3.2 mm diameter tubes can be tolerated without significantly affecting APD measurements.</p

Late Miocene to early Pliocene biofacies of Wanganui and Taranaki Basins, New Zealand: Applications to paleoenvironmental and sequence stratigraphic analysis

The Matemateaonga Formation is late Miocene to early Pliocene (upper Tongaporutuan to lower Opoitian New Zealand Stages) in age. The formation comprises chiefly shellbeds, siliciclastic sandstone, and siltstone units and to a lesser extent non-marine and shallow marine conglomerate and rare paralic facies. The Matemateaonga Formation accumulated chiefly in shelf paleoenvironments during basement onlap and progradation of a late Miocene to early Pliocene continental margin wedge in the Wanganui and Taranaki Basins. The formation is strongly cyclothemic, being characterised by recurrent vertically stacked facies successions, bounded by sequence boundaries. These facies accumulated in a range of shoreface to mid-outer shelf paleoenvironments during conditions of successively oscillating sea level. This sequential repetition of facies and the biofacies they enclose are the result of sixth-order glacio-eustatic cyclicity. Macrofaunal associations have been identified from statistical analysis of macrofossil occurrences collected from multiple sequences. Each association is restricted to particular lithofacies and stratal positions and shows a consistent order and/or position within the sequences. This pattern of temporal paleoecologic change appears to be the result of lateral, facies-related shifting of broad biofacies belts, or habitat-tracking, in response to fluctuations of relative sea level, sediment flux, and other associated paleoenvironmental variables. The associations also show strong similarity in terms of their generic composition to biofacies identified in younger sedimentary strata and the modern marine benthic environment in New Zealand

Classification cards applied to team and individual learning.

Thesis (Ed.M.)--Boston Universit

Maritime Economics in a Post-Expansion Panama Canal Era

(First paragraph) The 2016 opening of an expanded Panama Canal will allow for Post-Panamax containerships up to 12 500 twenty-foot equivalent unit (TEU) in size to transit the Panama Canal. In response, some US East Coast container ports are having their channels and berths dredged deeper—to allow Post-Panamax containerships from Asia (transiting the expanded canal) to call at their ports. What are the implications for the US West Coast ports? Will there be a cargo shift from West Coast to East Coast ports? These topics as well as the impacts of other changes in global shipping lanes (e.g., the Suez Canal and the Arctic shipping lanes) on global trade and ports in the Post-Expansion Panama Canal Era were discussed in various sessions of the International Association of Maritime Economists (IAME) 2014 Conference. This special issue is dedicated to the study of the above impacts. The goal of this special issue is to encourage research in this important area by highlighting the influence of the Panama Canal expansion to the global maritime sectors and examining the potentially dramatic changes in the Post-Expansion Era. Hence, five IAME conference papers and an additional paper by Ducruet are chosen for this reason

HIV-1 Tat stimulates transcription complex assembly through recruitment of TBP in the absence of TAFs

The human immunodeficiency virus type I (HIV-1) transactivator protein Tat is an unusual transcriptional activator that is thought to act solely by promoting RNA polymerase II processivity. Here we study the mechanism of Tat action by analyzing transcription complex (TC) assembly in vivo using chromatin immunoprecipitation assays. We find, unexpectedly, that like typical activators Tat dramatically stimulates TC assembly. Surprisingly, however, the TC formed on the HIV-1 long terminal repeat is atypical and contains TATA-box-binding protein (TBP) but not TBP-associated factors (TAFs). Tat function involves direct interaction with the cellular cofactor positive transcription elongation factor b (P-TEFb). Artificial tethering of P-TEFb subunits to HIV-1 promoter DNA or nascent RNA indicates that P-TEFb is responsible for directing assembly of a TC containing TBP but not TAFs. On the basis of this finding, we identify P-TEFb-dependent cellular promoters that also recruit TBP in the absence of TAFs. Thus, in mammalian cells transcription of protein-coding genes involves alternative TCs that differ by the presence or absence of TAFs

Corneoscleral laceration and ocular burns caused by electronic cigarette explosions

PURPOSE: To report cases of acute globe rupture and bilateral corneal burns from electronic cigarette (EC) explosions. METHODS: Case series. RESULTS: We describe a series of patients with corneal injury caused by EC explosions. Both patients suffered bilateral corneal burns and decreased visual acuity, and one patient sustained a unilateral corneoscleral laceration with prolapsed iris tissue and hyphema. A review of the scientific literature revealed no prior reported cases of ocular injury secondary to EC explosions; however, multiple media and government agency articles describe fires and explosions involving ECs, including at least 4 with ocular injuries. CONCLUSIONS: Given these cases and the number of recent media reports, ECs pose a significant public health risk. Users should be warned regarding the possibility of severe injury, including sight-threatening ocular injuries ranging from corneal burns to full-thickness corneoscleral laceration

Analisis Penerapan Akuntansi Forensik Dan Audit Investigatif Terhadap Pencegahan Dan Pengungkapan Fraud Dalam Pengelolaan Keuangan Daerah Pada Perwakilan Bpkp Provinsi Sulawesi Utara

The purpose of this study is to explore and analyze: (1) the implementation of forensic accounting is applicable and effective functioning of the fraud prevention (preventive); (2) the implementation of forensic accounting is applicable and effective functioning of the fraud detection (detective); and (3) the implementation of investigative audit applicable and effective functioning of the fraud investigation (repressive) in the local ​​financial management. The analytical method used is descriptive qualitative methods that examines the participants perspective and some informations from the key informan through in-depth interviews and additional questions instrument by using purposive sampling, then make data triangulation obtained sources and collection techniques for analysis interactively by reducing, displaying in the form of a narrative texts, tables, matrix, charts, and then drawn a conclusion. The results of research and analysis states that forensic accounting is applicable and effective function to be applied to the fraud prevention (preventive) in the local financial management through the FCP, SPIP and SIMDA; forensic accounting is also applicable and effective function to be applied to the fraud detection (detective) in the local financial management through Operational Audit, Audit of Government goods and services Procurement (Probity Audit), EDP Audit: Computer Forensic, and Whistleblowers System; and the Audit Investigative very applicable and effective function to be applied to the fraud investigation (repressive) in the local financial management through investigative audits, in order to calculate losses of the state financial audits, and the provision of expert witness

Physics-Informed Machine Learning of Argon Gas-Driven Melt Pool Dynamics

Melt pool dynamics in metal additive manufacturing (AM) is critical to process stability, microstructure formation, and final properties of the printed materials. Physics-based simulation including computational fluid dynamics (CFD) is the dominant approach to predict melt pool dynamics. However, the physics-based simulation approaches suffer from the inherent issue of very high computational cost. This paper provides a physics-informed machine learning (PIML) method by integrating neural networks with the governing physical laws to predict the melt pool dynamics such as temperature, velocity, and pressure without using any training data on velocity. This approach avoids solving the highly non-linear Navier-Stokes equation numerically, which significantly reduces the computational cost. The difficult-to-determine model constants of the governing equations of the melt pool can also be inferred through data-driven discovery. In addition, the physics-informed neural network (PINN) architecture has been optimized for efficient model training. The data-efficient PINN model is attributed to the soft penalty by incorporating governing partial differential equations (PDEs), initial conditions, and boundary conditions in the PINN model