Dr. Bill Y. Chen, CFO and Professor in the Department of Business Administration received the confirmation that his paper, titled “ The Review and Analysis of Compulsory Insurance” will be published soon by an academic referred international journal—Insurance Markets and Companies.
This paper is co-authored with Professor Dongmei Chen at Fudan University, China. Their paper was presented at the annual conference of the Asian Pacific Risk and Insurance Association, Seoul, July, 2012. Dr. Bill Chen received the UWest’s Institutional Grant for his relevant proposal last year.
The paper provides the most comprehensive review of different type of compulsory insurance implemented in the United States of America and the world; it reviews and analyzes effects of compulsory insurance on individuals and the society, based on theoretical studies and empirical evidence; and explores what we can learn to better develop and implement compulsory insurance. The paper also develops a theoretical model that can be used to analyze whether individuals and/or public will accept/support a proposed compulsory insurance. Through this review and analysis of the compulsory insurance, the paper has also identified some areas that need further theoretical and empirical studies. The results from this study will be very valuable to countries, particularly developing countries like China, that plan to implement some kind of compulsory insurance.