Ronald Bornhuetter Loss Reserve Prize

(Formerly the Reserves Prize)

This award commemorates the work of Ronald Bornhuetter, FCAS (1957). The award was renamed in November 2006 from the Reserves Prize. The award is made to the author(s) of the best paper submitted in response to a call for papers regarding reserves, whenever the program is conducted by the Reserves Committee of the Casualty Actuarial Society. Papers are judged by a specially appointed review committee on the basis of originality of ideas, clarity of presentation, contribution to the literature on loss reserving, and thoroughness of analysis. The committee's decision will be final. If no paper is considered eligible in a given year, the award shall not be made. Recipients need not be members of the Casualty Actuarial Society. The announcement of the award is made at the Casualty Loss Reserve Seminar at which the papers are presented.

The amount of the Reserves Prize is determined annually.

Recipients of the Ronald Bornhuetter Loss Reserve Prize


1st Place
Lahiru H. Somaratne
Ultimate Loss Reserve Forecasting Using Bidirectional LSTMs

2nd Place
David R. Clark, Hang Ding and Lianmin Zhou
Making Bootstrap Reserve Ranges More Realistic

Yu Shi Feng and Ira Robbin
Quantifying Reserve Risk Based on Volatility in Triangles of Estimated Ultimate Losses

Bertram A. Horowitz
Relative Unpaid Claims Loss Reserving

Jake Morris
Hierarchical Compartmental Models for Loss Reserving

Best Practical Tool to Accompany a Paper
Mark R. Shapland and Jeffrey A. Courchene
The Actuary and Enterprise Risk Management: Integrating Reserve Variability

David R. Clark and Diana Rangelova
Accident Year / Development Year Interactions

Peng Shi & Brian Hartman
Credibility in Loss Reserving

Rajesh Sahasrabuddhe
Applying Credibility Concepts to Develop Weights for Ultimate Claim Estimators

Marc B. Pearl and Jeremy Smith
An Enhanced On-Level Approach to Calculating Expected Loss Costs

Karen H.S. Adams
Chain Ladder Reserving Methods for Liabilities with Per Occurrence Limits

Bertram A. Horowitz
Aggregate Loss Reserve Analysis by Accounting Date

Jessica (Weng Kah) Leong, Shaun Wang, and Han Chen
Back-Testing the ODP Bootstrap of the Paid Chain-Ladder Model with Actual Historical Claims Data

Second Place:
Ira Robbin, Ph.D.
A Practical Way to Estimate One-Year Reserve Risk

No program held.

Tapio Boles and Andy Staudt
On the Accuracy of Loss Reserving Methodology

Second Place:
Hou-Wen Jeng
On Small Samples and the Use of Robust Estimators in Loss Reserving

No Program Held

James Guszcza
Hierarchical Growth Curve Models for Loss Reserving

No Program Held

Glenn G. Meyers
"Estimating Predictive Distributions for Loss Reserve Models"

No Award

Richard E. Sherman and Gordon F. Diss
"Estimating the Workers' Compensation Tail"

David R. Clark
"LDF Curve-Fitting and Stochastic Reserving: A Maximum Likelihood Approach"

No Award

Aaron Halpert, ACAS, MAAA, Scott Weinstein, FCAS, MAAA, and Christopher Gonwa
"Evaluating Reserves in a Changing Claims Environment"

Daniel D. Heyer
"A Random Walk Model for Paid Loss Development"

Allen J. Gould, ACAS, MAAA, and Orin M. Linden, FCAS, MAAA,
"Estimating Satellite Insurance Liabilities"

Thomas Struppeck,
"Premium Earning Patterns for Multi-Year Policies with Aggregate Deductibles"

Chandrakant C. Patel and Alfred Raws III,
"Statistical Modeling Techniques for Reserve Ranges: A Simulation Approach"

Prakash Narayan and Thomas V. Warthen III,
A Comparative Study of the Performance of Loss Reserving Methods Through Simulation"

Jeffrey J. Scott,
"Workers Compensation Medical Reserving with Calendar Year Payments in a Cost Containment Environment"

No Program Held

Susan L. Cross and John P. Doucette,
"Measurement of Asbestos Bodily Injury Liability"