The CAS Reserves Committee concluded another successful call paper program that features four papers, which were presented at the CLRS and are posted in the 2016 Summer E-Forum on the CAS website.
This year the Ronald Bornhuetter Loss Reserve Prize for Best Paper was awarded to Jake Morris for his paper “Hierarchical Compartmental Models for Loss Reserving.” Cited for its originality, the paper was described as “a fresh and different parameterization of the loss process” and that it “moves the current reserving research in the right direction.” Morris is an actuary at Liberty Specialty Markets in London, England, and is a Fellow of the Institute and Faculty of Actuaries.
The Reserves Committee also a prize for the Best Practical Tool to accompany a paper. This prize had been in existence for a few years, but this year was the first time it was ever awarded. Mark Shapland and Jeff Courchene received the award for their paper “The Actuary and Enterprise Risk Management: Integrating Reserve Variability.” Shapland and Courchene included two Excel spreadsheets along with their paper, which the committee found immediately practical.
Morris and Shapland were on hand at the seminar to accept their awards.
To read all the Reserves Call Papers, visit http://bit.ly/Su16EForum.
