The CAS Committee on Reinsurance Research is sponsoring a call for papers on the topic "Aggregation and Correlation of Reinsurance Exposures." Authors of accepted papers may be invited to present their work at the 2003 CAS Seminar on Reinsurance scheduled for June 2-3, 2003 in Philadelphia, Pennsylvania. Accepted papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the Seminar.
Papers submitted in response to the call will be considered for the inaugural Ronald Ferguson Reinsurance Prize. The amount of the Ronald Ferguson Reinsurance Prize is currently $2,000. Both CAS members and non-members are invited to submit proposals for papers.
This call paper program will focus on the "Aggregation and Correlation of Reinsurance Exposures." The various events of the last year, including Enron and the World Trade Center disaster, have shown the insurance and reinsurance industry that accumulation of risks can happen in ways we never before considered. There are correlations between lines of business that were previously considered virtually impossible. Corporate aggregates previously devoted to property business can also be eroded by casualty lines. Armed with this new knowledge, how do we measure and track these accumulations (from both an insurer and reinsurer perspective)? What data elements, exposure information, or other factors do we need to capture? How can we consider the proper charge for this capacity? How do we measure the newfound risks to the company portfolio? What products may assist in managing these exposures?
Call Paper Timetable
Timely submission of papers is critical to the success of the call. The procedures and timetable enumerated below will apply.
- Deadline for Proposals
- Acceptance of Proposals
- Monitoring Progress
- Completion Date
- Approving the Completed Paper
- Prize Competition
By September 4, 2002, authors should submit proposals for their papers including a short description of the approach that will be taken. Proposals should be submitted electronically via e-mail to the Casualty Actuarial Society at email@example.com. Please put "2003 Reinsurance Call Paper Proposal" in the subject line of the e-mail message.
By September 25, 2002, the Committee will make a decision on all proposals. The number of accepted proposals may be limited. The Committee will contact authors regarding their proposals.
A Committee member will be assigned to work with each author to monitor the paper's progress and to provide general guidance in completing the paper within the timeframes. The author will be required to submit an interim draft.
By January 10, 2003, a completed draft of the author's paper will be submitted to the assigned Committee member for review.
By February 7, 2003, the Committee member will forward review comments on the draft to the author.
By March 7, 2003, the Committee must receive the completed paper and a 200-word abstract for its review. Each paper will be screened by the Committee to assure its quality of exposition and relevance to the call. The Committee may require further rewriting of the paper to bring it to an acceptable standard.
By March 28, 2002, all authors will have been notified as to the results of this screening process, and final approvals will have been provided. Accepted papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the 2003 CAS Seminar on Reinsurance. Authors may be invited to present their papers at the Seminar, scheduled for June 2-3, 2003 in Philadelphia, Pennsylvania.
All papers submitted and accepted in response to the call and meeting the minimum standards established by the Committee will be considered for the inaugural Ronald Ferguson Reinsurance Prize. The amount of the Ronald Ferguson Reinsurance Prize is currently $2,000. If awarded, the prize will be announced and presented to the author(s) at the 2003 CAS Seminar on Reinsurance. An independent review committee will judge the papers anonymously.
The criteria for evaluation will include:
- Originality of ideas;
- Understanding of complex concepts;
- Contribution to the literature on reinsurance;
- Thoroughness of ideas expressed; and
- Clarity of presentation.
Papers must be no more than 10,000 words and should be prepared in accordance with the procedures outlined in the "Guide for Submission to CAS Forum" on the CAS Web Site at www.casact.org/about/index.cfm?fa=forum. Additional guidance for the preparation of technical papers for publication is provided in the "Guides for the Submission of Papers" in the 2002 CAS Yearbook (pages 337-345) and on the CAS Web Site at www.casact.org/about/index.cfm?fa=guides. In addition to a hard copy of the paper, authors will be required to provide an electronic copy of the paper on diskette or by e-mail, and will be asked to sign a "Permission to Publish" form allowing the CAS to publish the paper.
Authors are encouraged to submit working templates in spreadsheet form for models or methods discussed or developed in their papers. The spreadsheets will be posted on the CAS Web Site along with the paper. It is hoped that authors will also submit their papers for publication in the Proceedings in accordance with the procedures in the Yearbook. However, acceptance of a paper for this call does not guarantee its acceptance for publication in the Proceedings.
The Committee on Reinsurance Research looks forward to receiving proposals in response to the call, and is happy to respond to inquiries from interested parties. Questions may be addressed to the Committee on Reinsurance Research at the CAS office address or via e-mail to firstname.lastname@example.org.