By Kang Seung-woo
Georgia State University professor Robert Klein and a three-member team, led by Mary Kelly, a professor of Wilfrid Laurier University, received the Shin Research Award for Excellence at the annual International Insurance Society (IIS) meeting in Toronto, Kyobo Life Insurance said Tuesday.
The annual award, which is endowed by Kyobo Life, is one of the biggest prizes for insurance researchers around the world.
The award was created in 1997 to honor the contribution of Shin Yong-ho, the founder of Kyobo Life Insurance, to the global insurance industry.
It is the only one presented under the name of a Korean.
Klein was honored for his paper “Principles for Insurance Regulation: An Evaluation of Current Practices and Potential Reforms,” while the Canadian team was awarded for “Structure, Principles and Effectiveness of Insurance Regulation in the 21st Century: Insights from Canada.”
The IIS is the largest organization of its kind in the insurance industry and it is a non-profit organization of almost 1000 insurance executives globally.
Korea is scheduled to host the IIS meeting again in 2013, after holding it in 1987.