2005 Call for Ratemaking Discussion Papers
From: Ratemaking Discussion Paper Chairperson
The Casualty Actuarial Society is again pleased to extend a call for discussion papers on ratemaking topics. As ratemaking is one of the casualty actuary's major areas of expertise, it is important that we foster and publish timely, relevant, and high-quality research. The Ratemaking Discussion Paper Program is offered to accomplish these goals and to provide additional material for basic and continuing education purposes. Papers will be reviewed for acceptance based on:
- Originality of ideas;
- Understandability of complex concepts;
- Contribution to the ratemaking literature;
- Thoroughness of ideas expressed; and,
- Timeliness and relevance of research.
Authors of accepted papers may be invited to present their work at the 2005 Ratemaking Seminar, scheduled for March 10-11, 2005 in New Orleans, LA. In addition, the papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the Seminar. A prize fund of $2,500 is available for the outstanding papers submitted in response to the call. Both CAS members and non-members are invited to submit proposals for papers.
We welcome all papers on ratemaking topics, but prefer papers that focus on the considerations listed in the CAS Statement of Principles Regarding Property and Casualty Ratemaking. In addition, we have listed below ratemaking topics that are of interest as current events and issues or subjects in which various committees of the CAS have expressed a desire to expand the body of available literature.
- Use of Scoring Models, including:
- Methodology for disparate impact analysis in Credit Scoring
- Uses of Credit Scoring outside of personal lines
- Extending models beyond credit variables
- Actuaries and the Medical Malpractice Insurance "Crisis"
- Support for the term "Crisis"
- Pricing economic versus non-economic damages
- Tort reform effects on pricing
- Bringing stability to the market
- Alternative Risk-transfer Instruments, including:
- Reflecting the cost of capital in alternative risk transfer arrangements
- Pricing of risk securitization
- Ratemaking for Captives
- Reinsurance, including:
- Current best practices in pricing reinsurance contracts
- Impact of reinsurance costs in pricing primary coverage
- Impact of Shocks to Insurance Markets
- Profitability Considerations
- Ratemaking for unanticipated exposures (e.g. mold)
- Legislative/Court decisions (e.g. diminished value, non-OEM parts)
- Underwriting Cycle
Call Paper Timetable
Timely submission of the discussion 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
- By June 11, 2004, a completed draft of the author's paper will be submitted to the assigned Committee member for review.
- By August 6, 2004, the Committee member will forward review comments on the draft to the authors.
- Completion Date
- Approving the Completed Paper
- Presenting the Paper
- Prize Competition
By February 20, 2004, authors should submit proposals for their papers including the suggested title, a short description of the topic(s) to be addressed, the approach that will be taken, and a survey of existing actuarial literature on the subject (title and abstract of a maximum of the five most relevant papers). Authors should review the criteria for acceptance shown above, and the format of papers shown below. Proposals should be submitted electronically, including contact information, via e-mail to the Casualty Actuarial Society.
By March 12, 2004, the Committee on Ratemaking will have made a decision on all proposals. Preference will be given to papers that specifically address the topics listed above. The Ratemaking Discussion Paper Chairperson will contact the authors regarding the acceptance of 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 September 10, 2004, the Committee on Ratemaking must receive the completed paper including a 200-word abstract. Each paper will be screened by the Committee to assure its quality of exposition and relevance to the call. The Committee reserves the right to not publish a submission that does not meet an acceptable standard.
By November 26, 2004, authors will have been notified as to the results of the screening process. Accepted papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the 2005 Ratemaking Seminar.
Authors may be invited to present their papers at the CAS Ratemaking Seminar, scheduled for March 10-11, 2005 in New Orleans, LA. These authors will be contacted in advance of the meeting regarding their presentations.
All papers submitted and accepted in response to the call and meeting the minimum standards established by the Committee will be included in the prize competition. A prize fund of $2,500 is available for the best paper(s) submitted in response to the call, and will be presented to the author(s) at the Ratemaking Seminar. An independent review committee that will judge the papers anonymously will select the best paper(s). If no paper is considered eligible, the award shall not be made.
Format of Papers
Papers must be no more than 10,000 words and should be prepared in accordance with the Research Paper Template, and the procedures in the Guide for Submission to CAS Forum. Key words in the abstract should be based on the CAS Research Taxonomy. Additional guidance for the preparation of technical papers for publication is provided in the Guides for the Submission of Papers.
Authors will be required to execute a "Permission to Publish" form, which formally grants the CAS permission to publish the paper. Authors are encouraged to submit working templates in spreadsheet form for models or methods discussed or developed in their papers and/or PowerPoint presentations incorporating the details of the paper's calculations. The spreadsheets and presentations will be posted on the CAS Web Site along with the paper.
It is hoped that the authors will also submit their papers for publication in the Proceedings in accordance with the procedures in the Yearbook. However, acceptance of a discussion paper for this call does not guarantee its acceptance for publication in the Proceedings.
The Committee on Ratemaking 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 Ratemaking at the CAS Office via e-mail to firstname.lastname@example.org.
Your participation in this effort to produce new papers will contribute to the written body of knowledge for the CAS and to the success of the 2005 Ratemaking Discussion Paper Program.