David A. Cather

Color portrait of David A. Cather

Clinical Professor

Department Risk Management
Office Address 316 Business Building
Phone Number 814-863-5455
Email Address dac32@psu.edu

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Dave Cather joined the Smeal College of Business in 2006. Prior to his current position at Penn State, Dr. Cather taught at the Wharton School at the University of Pennsylvania. He holds a B.S.B.A. from Bowling Green State University and an M.B.A. and Ph.D. in Risk Management and Insurance from the University of Georgia. Dr. Cather's research interests include corporate risk management, insurance data analytics, auto insurance, and corporate governance. His research has been published in a variety of journals, including Journal of Risk and Insurance, Risk Management and Insurance Review, Journal of Banking and Finance, and the Geneva Papers on Risk and Insurance. In the classroom, Dr. Cather is an accomplished instructor who has received several teaching awards. He was the 2008 recipient of the Les Strickler Innovation in Instruction Award, presented by the American Risk and Insurance Association. While at Wharton, he was the recipient of the Sigma Kappa Phi Outstanding Professor Award. Before starting his academic career, Dr. Cather worked in the property-liability insurance industry as a licensed independent agent.

Expertise

Corporate Risk Management, Corporate Governance, Risk and Insurance

Education

Ph D, Risk Management and Insurance (Finance, Economics, Statistics), The University of Georgia, 1985

Courses Taught

RM 302 – Risk and Insurance (3)
Introduction to the principles and methods of handling business and personal risks; emphasis on insurance techniques.

RM 430 – Life and Hlth Ins (3)
Industrial organization of the US life-health insurance industry; economic issues related to organizational structure, operational functions, and the supply and demand for life-health products.

RM 497 – Special Topics (3)
Formal courses given infrequently to explore, in depth, a comparatively narrow subject which may be topical or of special interest.

RM 405 – Corp Risk Mgmt (3)
Risk management for firms and organizations; loss control, risk transfer, and loss financing alternatives; Corporate employee benefit program design and financing.

RM 494H – Research Project (3)
Supervised honor student research projects identified on an individual or small-group basis.

RM 875 – Risk Management & Compliance (2)
Risk management and compliance (RMC) is a process that organizations can use to limit excessive risk taking and unlawful corporate behavior. This class covers the losses resulting from ineffective risk management and compliance, such as business interruption, class action lawsuits, product recalls, reputational harm, and increased regulation. A variety of risk handling techniques are introduced, with an emphasis on how risk management can increase firm value. Using lectures and cases, the class examines how firms can implement risk management and compliance systems to better monitor and control corporate risk-taking behavior. Throughout the class, the legal, financial, and regulatory incentives to engage in corporate risk-taking are examined across a variety of corporate stakeholders, including managers, senior executives, corporate directors, customers, shareholders, institutional investors, and regulators.

INS 575 – Risk Management (2)
Develop an understanding of the risks facing corporations and the methods available to deal with those risks.

R M 302 – Risk and Insurance (3)
Introduction to the principles and methods of handling business and personal risks; emphasis on insurance techniques.

R M 405 – Corporate Risk Management (3)
Risk management for firms and organizations; loss control, risk transfer, and loss financing alternatives; Corporate employee benefit program design and financing.

R M 494H – Honors Research Project (3)
Supervised honor student research projects identified on an individual or small-group basis.

R M 494 (6)

R M 430 – Life and Health Insurance (3)
Industrial organization of the US life-health insurance industry; economic issues related to organizational structure, operational functions, and the supply and demand for life-health products.

INS 301 – Risk and Insurance (3)
Introduction to the principles and methods of handling business and personal risks; emphasis on insurance techniques.

INS 320 – Life Insurance (3)
Protection and savings features of the life insurance contract as they affect the individual; business uses of life insurance.

INS 494H – Insurance Honors Thesis Research (variable)
Supervised student activities on research projects identified on an individual or small-group basis.

INS 496 – Independent Studies (variable)
Creative Projects, including research and design, which are supervised on an individual basis and which fall outside the scope of formal courses.

Selected Publications

Cather D. A., "Addressing Insurance Price Discrimination in an Era of Diversity, Equity, and Inclusion." Risk Management and Insurance Review, vol. 26, no. 3, 2023, pp. 23
(Invited Article)
Cather D. A., "Insurance Pricing Discrimination and Aristotelian Equality: An Application to Annuity Pricing." Journal of Insurance Regulation, vol. 40, no. 9, 2022
Cather D. A., "Reconsidering Insurance Discrimination and Adverse Selection in an Era of Data Analytics." Geneva Papers on Risk and Insurance, vol. 45, no. 1, 2020
Cather D. A., "Cream Skimming: Innovations in Insurance Risk Classification and Adverse Selection." Risk Management and Insurance Review, vol. 21, no. 2, 2018, pp. 335-366
Cather D. A., "The Limits of Insurance Risk Pooling for Large-Scale Loss Events." The CIP Report, Center for Infrastructure Protection and Homeland Security, vol. 13, no. 2, 2014
Dorfman M. S., Cather D. A., "Introduction to Risk Management and Insurance." (Pearson Prentice Hall), 2013
Cather D. A., "A Gentle Introduction to Risk Aversion and Utility Theory." Risk Management & Insurance Review, vol. 13, no. 1, 2010, pp. 127-145
Cather D. A., Ligon J. A., "The Informational Value of Insurance Purchases: Evidence from the Property Liability Insurance Markets." Journal of Banking and Finance, 1997
Cather D. A., Cooperman E. S., Wolfe G. A., "Excess Pension Asset Reversions and Corporate Acquisition Activity." Journal of Business Research, 1991
Cather D. A., Howe V., "Conflict and Channel Management in Property-Liability Distribution Systems." Journal of Risk and Insurance, 1989
Cather D. A., Leverett E., "Relationship Marketing: A Framework for Effective Agency Management." Best's Review, 1989
Cather D. A., "Property Liability Insurance Marketing: a Comparison of Independent Agency and Direct Writer Insurers." CPCU Journal, 1986
Cather D. A., Gustavson S. G., Trieschmann J. S., "A Profitability Analysis of Property-Liability Insurers Using Alternative Distribution Systems." Journal of Risk and Insurance, 1985

Research Impact and Media Mention

Editorship

Journal of Risk and Insurance, Book Review Editor, July 2006 - September 2020
Book Review Editor

Honors and Awards