A joint working party of the Casualty Actuarial Society’s Casualty Actuaries in Reinsurance (CAS-CARe) and the U.K. Institute and Faculty of Actuaries’ General Insurance Research Organization (IFoA-GIRO) was awarded the 2016 Brian Hey Prize for its pricing paper, “Analyzing the Disconnect Between the Reinsurance Submission and Global Underwriter’s Needs.” The announcement was made at the recent 2016 GIRO Conference in Dublin, Ireland.
The Brian Hey Prize is given by the IFoA in honor of Brian Hey, a senior and respected actuary who worked in general insurance. The Brian Hey Prize is awarded for the best paper submitted to each year’s GIRO Conference.
Released in March 2016, the winning paper analyzes international property per risk exposures, emphasizing the critical importance of properly assessing the valuations of properties and related rating variables. The paper is now being used as a reference document by primary companies, brokers, and reinsurers globally to highlight the need for capturing the most important data elements used by reinsurers and forge a deeper understanding of how each of the elements fits together. The paper is available for free download on the CAS website.
Earlier this year, John Buchanan, FCAS, MAAA, chair of the joint CAS/IFoA International Pricing Research Working Party and one of the paper’s authors, presented findings from the report at the CAS Seminar on Reinsurance.
To view past winners of the Brian Hey Prize, visit the IFoA website.
