King William’s Tontine: Why the Retirement Annuity of the Future Should Resemble Its Past, by York University finance professor Moshe Milevsky, has received the 2017 Kulp-Wright Book Award from the American Risk and Insurance Association.
The prize, awarded annually by ARIA since 1944, goes to the previous year’s most influential book on risk management and insurance.
“This honor shows that tontine thinking, in the design of personal risk management products, is a concept with a high likelihood of catching-on in both academia and industry,” Milevsky said in a release.
“It also proves that there are valuable lessons to be learned from 17th century financial and insurance history, even in the rapidly changing 21st century.” Milevsky said he is about to publish a “prequel” titled The Day the King Defaulted: Lessons from the Stop of the Exchequer in 1672.
The award was presented at the annual ARIA conference in Toronto this week. Articles on Milevsky’s research on tontines and the history of financial retirement products appeared in the Economist in June and The New York Times in April.
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