Casualty Actuarial Society


Committee on Reserves - 2002 Call Paper Program

Note: The Committee on Reserves has extended the deadline for proposals for the 2002 Reserves Call Paper Program. The new deadline is September 4, 2001.

External influences have brought with them new reporting and calculation requirements for property/casualty insurance company reserving. There has been some debate in the actuarial community on how to interpret these new opinion and statutory accounting requirements. At the same time, there have been considerable advancements in new tools available to assist reserving actuaries with these new requirements.

Reserving papers related (though not limited) to the following list of topics are being sought: (The Committee encourages the submission of supporting spreadsheets and/or PowerPoint presentations incorporating the details of the paper's calculations, along with the paper itself.)

  • Opinion Issues: Issues related to new requirements for reserving including materiality, ranges of reasonable reserve estimates, adverse deviation, risk margins, and other issues related to the Actuarial Standard of Practice #36.

  • Codification: Issues related to new statutory accounting requirements, including the recording of management's best estimate of reserves, reserving by line, premium deficiency reserves, and the discounting of reserves. In addition, we welcome papers on the role of dynamic financial analysis in loss reserving, new simulation techniques, and other models that address the NAIC codification project.

  • Pollution Liabilities: The committee is seeking papers that provide alternative or improved techniques in reserving for pollution liabilities. New cost estimate standards for pollution liabilities have been issued by the American Society for Testing and Materials. Papers are encouraged that incorporate the new ASTM standards in establishing reserves. The Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters (E2137-01) is available through the ASTM Web Site at

  • Run-off Reserving: Issues relating to reserving in a "run-off" environment. This includes situations where a company has become insolvent or has voluntarily withdrawn from a line of business. Topics include how guaranty fund coverage (or its absence) may affect ultimate claim payments and estimates, change in the claim handling process including loss of economies of scale, defense costs, fair value accounting, how the valuation of assets could influence the value of loss reserves, and other factors that can change or distort estimates of ultimate claim costs.

Call Paper Timetable

Timely submission of papers is critical to the success of the call. The procedures and timetable enumerated below will apply.

  1. Deadline for Proposals
    By September 4, 2001, authors should submit proposals for their papers including the title, a short description of the topic(s) to be addressed, and the approach that will be taken. Proposals should be submitted to:

    Casualty Actuarial Society
    1100 North Glebe Road, Suite 600
    Arlington, VA 22201
    Attn: Committee on Reserves
    Fax: 703-276-3108; Email:

  2. Acceptance of Proposals
    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.

  3. Monitoring Progress
    A Committee member will be assigned to work with each author to monitor the paper's progress and provide general guidance in completing the paper. By mutual agreement, the author and the assigned Committee member will establish a schedule for the production of interim drafts.
    By December 17, 2001, a first draft of the completed paper will be submitted to the assigned Committee member for review.
    By April 15, 2002, all comments on the first draft will have been forwarded to the author.

  4. Completion Date
    By June 3, 2002, the Committee on Reserves must receive the completed paper and a short abstract (no more than 200 words) for their review. Authors will receive further instructions from the Committee for the name and address of the Committee member to receive the completed paper. 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.

  5. Approving the Completed Paper
    By July 15, 2002, all authors will have been notified as to the results of this screening process. Accepted papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the 2002 Casualty Loss Reserve Seminar. Authors may be invited to present their papers at the CLRS scheduled for September 23-24, 2002 in Arlington, VA. Each author should make every effort to attend the CLRS and present his/her paper.

  6. Prize Competition
    A prize fund of $2,500 is available for the best papers submitted in response to the call, and if awarded, prizes will be announced and presented to the authors at the CLRS. Papers will be evaluated by an independent review committee that will judge the papers anonymously. The criteria for evaluation will include:
    • Originality of ideas;
    • Clarity of presentation;
    • Contribution to the literature on reserving; and,
    • Thoroughness of analysis.

  7. Submission Guidelines
    Papers must be no more than 10,000 words and should be prepared in accordance with the procedures in the "Guide for Submission to CAS Forum" on the CAS Web Site at Additional guidance for the preparation of technical papers for publication is provided in the "Guides for the Submission of Papers" in the 2001 CAS Yearbook (pages 323-330) and on the CAS Web Site at 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 Reserves 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 Giuseppe Russo at (212) 898-5294 or Deborah Rosenberg at (212) 480-5519 or via e-mail to