by Mary Frances Miller

Incoming CAS President, Mary Frances Miller (left),
is passed the gavel from 2002 President Gail M. Ross.

On November 19, 2003, two ratings agencies issued press releases that held casualty actuaries accountable for the recent increases in property/casualty loss reserves in the United States. Fitch Ratings pointed out that while the industry had seen favorable reserve development for a number of years in the 1990's, in 2001 and 2002 the development was decidedly unfavorable.

Full Story...

Based on our annual survey of CAS leaders, we have compiled a list of the top ten news stories affecting casualty actuaries in 2003. This listing, as seen in the accompanying chart, (.pdf) reflects a wide variety of issues and illustrates the diverse areas where casualty actuaries influence the insurance industry.

This year, an unusually large number of the stories are about actuaries, including the CAS approval of mutual recognition, actuarial malpractice, and the role of actuaries in evaluating loss reserves.

Continued...

• Comments Sought on CAS Research Initiatives
• CAS and SOA To Hold Second Joint ERM Symposium at Chicago in April
• Sign Up for the 2004 Ratemaking Seminar
• CAS Recognizes Members With "Above and Beyond Achievement"
• CAS Member Named to All-America Research Team
• Discipline Committee Issues 2003 Report
• The State of the Actuarial Employment Market-
  Part One
• Spring 2004 CAS Meeting Set For The Broadmoor in Colorado Springs
• 2004 Discussion Paper Program Centers on GLMs
• Featured Spring Meeting Speaker:
  Terry "Moose" Millard
• New Fellows and Associates Honored at the 2003 CAS Annual Meeting
• Tales of Examinations- Tell Us Your Stories
• CAS Awards Woodward-Fondiller and Dorweiler Prizes
• D.W. Simpson Makes CAS Trust Donation
• CAS Trust Scholarships Open For 2004-2005
• In Memoriam