Reserving Research Hall of Fame
Purpose, Caveat, and Criteria
The CAS Reserves Committee established the Reserving Research Hall of Fame (“RRHOF”) to honor and draw attention to important reserving-related papers and research. The inclusion or exclusion of any papers or other materials from the RRHOF should not be considered as an endorsement or denigration by the CAS or by the Reserves Committee of any papers for any particular reason or circumstance. The CAS and the Reserves Committee may cancel or make changes to the RRHOF at any time. Questions or concerns can be addressed to Jody Allen, CAS Professional Education and Research Coordinator.
The following is not a strict set of requirements, but rather a list of matters to favorably consider when evaluating possible RRHOF membership. While most RRHOF members may end up being papers or articles, it is also possible for other member types (e.g., presentations, models, authors) to be included.
- Originality / Value Added – Does the research introduce new concepts or provide a new and interesting perspective on existing research?
- Wide Applicability – Can the concepts presented in the research be applied to a wide number of property/casualty business situations? Separately and relatedly, not just “can”, but “have” the concepts been widely applied?
- Frequently Referenced – Related to the above point, but a bit more conceptual than practical – Has the research been frequently referenced by (and perhaps incorporated into) other research?
- Readability / User friendliness – Is the research presented in a way that is reasonably easy to grasp and put to use? Is it of reasonable size and clear as opposed to being overly long and technical? Is it well written or presented?
- Test of Time / Staying Power / Lasting Influence – Has sufficient time passed (maybe 5 years) to allow the research to be considered critically and put to use? During that time, has the research stayed relevant or at least avoided early obsolescence? How well has the research avoided negative reviews or commentary that is either compelling or widespread? Research that was considered favorably and widely used for many years before being replaced would still be considered to have had a lasting influence even if it has now lost some portion of its relevance.
- Author-specific – Was the author a frequent contributor of research that met (much of) the above criteria even if some or all of that research is not itself included in the RRHOF?
[Reference above to “research” is intended to make the criteria more general, but substituting the word “paper” for “research” above may make the concepts clearer.]
- The Actuary and IBNR, by Ronald L. Bornhuetter, Ronald and Ronald E. Ferguson. 1972 CAS Proceedings.
- Loss Reserve Adequacy Testing: A Comprehensive Systematic Approach, by James R. Berquist and Richard E. Sherman. 1977 CAS Proceedings.
- Distribution-Free Calculation of the Standard Error of Chain Ladder Reserve Estimates - by Thomas Mack. 1993 ASTIN Bulletin.
Suggest a Nominee for RRHOF’s Next Class!
To suggest a nominee, please fill out this short form.
Should you have any feedback to share on the Hall of Fame, please email Jody Allen, CAS Professional Education and Research Coordinator.