At the Fourth Annual Conference of the Eastern European Risk and Insurance Association, held in Sarajevo, Bosnia and Herzegovina, on 25–27 September 2025, the Center for the Study of Insurance Regulation, St. John’s University – IIF Robert J. Gibbons Best Paper Award was awarded to the article “Banking and Insurance Sector versus Energy Transition: Exploring Volatility Spillovers Between U.S. and European Markets.”

The paper was authored by Alessia Palma, Renata Karkowska, Andrea Paltrinieri, and Szczepan Urjasz.

The awarded article analyses volatility spillovers between the banking and insurance sectors and energy-related financial markets in the United States and Europe, contributing to the understanding of how the energy transition affects financial stability and cross-sectoral risk transmission.

The award recognises the high academic quality and policy relevance of research presented at EERIA conferences and reflects the continuing role of EERIA as a forum for research at the intersection of insurance, finance and economic transformation.