RAD, or the Risk Assessment Database, is a wide-ranging analysis of the theory and empirics of risk assessment in property-casualty insurance.
Formerly known as the Risk Premium Project II (RPP II), RAD was initiated by the Committee on Theory of Risk (COTOR) and began in 2000 with RPP I, which was a review of the actuarial and finance research done to that date. In 2010 RPP II was conducted to extend the research findings from RPP I, primarily due to the vast development of research in finance and actuarial science during the last decade, but other challenges for future research were also identified. Martin Eling and Hato Schmeiser took on the RPP II project in 2010. COTOR contracted Eling for subsequent updates annually from 2012-2014. Eling submitted the 2014 update in May 2015, which encapsulates of his findings from the previous year.
Eling conducted the RAD 2014 update during December 2014 and March 2015, adding 96 new qualified papers into the RAD literature database. These additions stem from a thorough search of new literature conducted by researchers at University of St. Gallen in Switzerland. Other additions of papers and research reports were recommended by the CAS and COTOR members. The search methodology was based on the literature search strategy and results evaluation process used in RPP II.
More in-depth information on the current update as well as access to the RAD database can be found on the CAS website.
