David L. Ruhm and Gary G. Venter were awarded top CAS prizes for papers written for the Proceedings of the Casualty Actuarial Society.
A 1999 Fellow, Ruhm won the 2003 Woodward-Fondiller Prize for his paper, "Distribution-Based Pricing Formulas Are Not Arbitrage-Free," which will be published in the 2003 Proceedings. The Woodward-Fondiller Prize commemorates the work of Joseph H. Woodward and Richard Fondiller and is intended to stimulate original thinking and research. The prize is given to the best eligible paper each year submitted by an Associate or Fellow who has attained his or her designation within the last five years.
The 2003 Dorweiler Prize marks the third win for Venter, who also won the award in 1986 and 1999. Venter's paper, "Tails of Copulas," is published in the 2002 Proceedings.
The two awards were announced at the 2003 CAS Annual Meeting held last November in New Orleans.