Casualty Actuarial Society Award

The Casualty Actuarial Society award is given each year to the paper published in an ARIA journal that provides the most valuable contribution to casualty actuarial science. The award is $1,000 plus an expense paid trip for the author to one of the CAS meetings to present the paper. The first award was presented at the 1997 ARIA Annual Meeting based on articles published in the Journal of Risk and Insurance in 1996 and in later years included articles published in the newer ARIA journal, Risk Management and Insurance Review. The dual objectives of this award are to promote research on topics of concern to casualty actuaries and to make members of the CAS more aware of current research findings. This award is one of several approaches that are being adopted to foster greater interaction between ARIA and the CAS. By making ARIA members more aware of the casualty actuarial profession, the CAS hopes to attract more highly qualified students. Also, ARIA members will be encouraged to participate in research projects on topics that are identified as critical by the CAS.

2022 Winners

Karthik Sriran, Peng Shi, University of Wisconsin–Madison, "Stochastic loss reserving: A new perspective from a Dirichlet model," JRI 88(1): 195-230

  • 2021 - Alexander Barinov, University of California, Riverside, Jianren Xu, University of North Texas, Steven W. Pottier, University of Georgia, "Estimating the Cost of Equity Capital for Insurance Firms with Multiperiod Asset Pricing Models, " JRI 87(1): 213-245
  • 2020 - John Major, "Methodological Considerations in Statistical Modeling of Cat Bond Prices," RMIR 22(1): 39-56
  • 2019 not awarded
  • 2018 - Peng Shi, "A Multivariate Analysis of Intercompany Loss Triangles," JRI 84(2): 717–737
  • 2017 - Alexander Braun, University of St. Gallen, “Pricing in the Primary Market for Cat Bonds: New Empirical Evidence,” JRI 83(4): 811-847
    • Honorable Mention - Valeria Bignozzi, University of Firenze, Andreas Tsanakas, Cass Business School, “Parameter Uncertainty and Residual Estimation Risk," JRI 83(4): 949-978
  • 2016 - Milton Boyd, University of Manitoba, Jeffrey Pai, University of Manitoba, Lysa Porth, University of Manitoba, "Insurance Premium Calculation Using Credibility Analysis: An Example from Livestock Mortality Insurance ", JRI 82(2): 341-357
  • 2015 - Edward Frees, University of Wisconsin-Madison, Glenn Meyers, ISO Innovative Analytics, David Cummings, ISO Innovative Analytics, "Insurance Ratemaking and a Gini Index, " JRI 81(2): 335-366
  • 2014 - Yanwei Zhang, CNA Insurance Company, Vanja Dukic, University of Colorado-Boulder "Predicting Multivariate Insurance Loss Payments Under the Bayesian Copula Framework", JRI 80(4): 891-
  • 2013 - M. Martin Boyer, HEC Montréal, Eric Jacquier, HEC Montréal, Simon van Norden, HEC Montréal, "Are Underwriting Cycles Real and Forecastable?," JRI, 79 (4): 995-1016
  • 2012 - Richard A. Derrig, OPAL Consulting LLC, Sharon Tennyson, Cornell University, "The Impact of Rate Regulation on Claims Evidence from Massachusetts Automobile Insurance," RMIR 14(2): 173-199
  • 2011 - George Zanjani, Georgia State University, "An Economic Approach to Capital Allocation," JRI 77(3):  523-549
  • 2010 - David Cummins, Temple University, Philippe Trainar, SCOR Paris, Securitization, Insurance, and Reinsurance, JRI 76(3): 463-492
  • 2009 - Pierre Picard, Ecole Polytechnique “Natural Disaster Insurance and the Equity-Efficiency Trade-off,” JRI 75(1): 7-38
  • 2008 - Patrick Brockett, University of Texas-Austin, Linda Golden, University of Texas-Austin “Biological and Psychobehavioral Correlates of Risk Taking, Credit Scores, and Automobile Insurance Losses: Toward an Explication of Why Credit Scoring Works,“ JRI 74(1): 23-63
  • 2007 - Michael Sherris, "Solvency, Capital Allocation and Fair Rate of Return in Insurance", JRI, 73(1): 71-96
  • 2006 - J. David Cummins and  Richard D. Phillips, "Estimating the Cost of Equity Capital for Property-Liability Insurers," JRI, 72(3): 441-478
  • 2005 - Steve D'Arcy and Rick Gorvett, "The Use of Dynamic Financial Analysis to Determine Whether an Optimal Growth Rate Exists for a Property-Liability Insurer," JRI 71(4): 583-616
  • 2004 - Natacha Brouhns, Montserrat Guillen, Michel Denuit, and Jean Pinquet, for "Bonus-Malus Scales in Segmented Tariffs with Stochastic Migration Between Segments", JRI 70(4): 577-599
  • 2003 - Patrick Brockett, Richard Derrig, Linda Golden, Arnold Levine, and Mark Alpert, for "Fraud Classification Using Principal Component Analysis of RIDITs", JRI, Vol. 69, No. 3 (Sept. 2002), pp. 341-371.
  • 2002 - Stewart C. Myers and James A. Read, Jr. for "Capital Allocation for Insurance Companies", JRI, Vol. 68, No. 4 (Dec. 2001), pp. 545-580.
  • 2001 - Patrick Brockett, Gene C. Lai, Robert C. Witt, Hung-Gay Fung, and Richard D. MacMinn, "Great (and not so Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises" JRI (Dec. 2000), Vol. 67, No. 4.
  • 1998 - Joan Lamm-Tennant and Mary A. Weiss for "International Insurance Cycles: Rational Expectations/Institutional Intervention", JRI, Vol. 64, No. 3 (Sep. 1997), pp. 415-439