PROCEEDINGS May 15, 16, 17, 18, 2005 - Casualty Actuarial Society

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772 MINUTES OF THE 2005 ANNUAL MEETINGAll meeting participants and their guests enjoyed dinner andentertainment at the Maryland Science Center from 6:30 p.m. to9:30 p.m.Wednesday, November 16, 2005A continental breakfast was held from 7:00 a.m. to 9:00 a.m.In addition to concurrent sessions that had been given previouslyand which were repeated, the following concurrent sessionswere presented from 8:00 a.m. to 9:30 a.m.1. The Road to 2014: The Centennial Goal/Long RangePlanning Committee ReportModerator: Aaron M. HalpertPrincipalKPMG LLPPanelist: Larry A. HaefnerVice President and ActuarySt. Paul Travelers Inc.2. Progress Reports: The Tail Factor Working Party and theBornhuetter-Ferguson-Initial Expected Losses Working PartyModerator: Thomas A. RyanConsulting ActuaryMilliman Inc.Chairperson of the Committee on ReservesPanelists: F. Douglas RyanConsulting ActuaryMBA Actuaries Inc.Mark R. ShaplandActuaryMilliman Inc.Members of the Tail Factor Working Party andthe Bornhuetter-Ferguson-Initial ExpectedLossesWorking Party
MINUTES OF THE 2005 ANNUAL MEETING 7733. Advancements in Hurricane Risk ManagementModerator: Michael A. WaltersConsulting ActuaryTowers PerrinPanelists: Richard R. AndersonChief ActuaryRisk Management Solutions Inc.Sean R. DevlinChief Pricing Actuary–P&C ReinsuranceGE Insurance SolutionsAlice H. GannonSenior Vice PresidentUnited Services Automobile Association4. Progress Report: Elicitation and Elucidation of RiskPreferences Working PartyModerator/ David L. RuhmPanelists: Portfolio Risk ManagerHartford Investment ManagementParr T. SchoolmanManagerErnst & Young LLPThe following Proceedings papers were presented:1. Discussion of “The ‘Modified Bornhuetter-Ferguson’Approach To IBNR Allocation”Author: Glenn M. WalkerG. M. Walker Actuarial Services2. Author Response to a Discussion of “Application of theOption Market Paradigm to the Solution of Insurance Problems”Author: Michael G. WacekOdyssey America Reinsurance Corporation3. Discussion of “Distribution-Based Pricing Formulas arenot Arbitrage-Free”
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VOLUME XCII NUMBERS 176 and 177PROC
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FOREWORDActuarial science originate
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2005 PROCEEDINGSCONTENTS OF VOLUME
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2005 PROCEEDINGSCONTENTS OF VOLUME
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Editorial Committee, Proceedings Ed
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2 AN EXAMINATION OF THE INFLUENCE O
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10 AN EXAMINATION OF THE INFLUENCE
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AN EXAMINATION OF THE INFLUENCE OF
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RISKINESS LEVERAGE MODELSRODNEY KRE
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RISKINESS LEVERAGE MODELS 33There a
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RISKINESS LEVERAGE MODELS 35where f
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RISKINESS LEVERAGE MODELS 37where a
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RISKINESS LEVERAGE MODELS 39Various
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RISKINESS LEVERAGE MODELS 41Then, f
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RISKINESS LEVERAGE MODELS 47differe
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RISKINESS LEVERAGE MODELS 49The las
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RISKINESS LEVERAGE MODELS 51ple. Th
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RISKINESS LEVERAGE MODELS 53the TVA
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RISKINESS LEVERAGE MODELS 55We also
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RISKINESS LEVERAGE MODELS 57Mean Va
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RISKINESS LEVERAGE MODELS 59APPENDI
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DISCUSSION OF A PAPER PRESENTED AT
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RISKINESS LEVERAGE MODELS 63known t
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RISKINESS LEVERAGE MODELS 65to be a
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RISKINESS LEVERAGE MODELS 67implies
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RISKINESS LEVERAGE MODELS 69bad res
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RISKINESS LEVERAGE MODELS 71a maxim
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RISKINESS LEVERAGE MODELS 734. INTE
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RISKINESS LEVERAGE MODELS 75the two
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RISKINESS LEVERAGE MODELS 79REFEREN
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RISKINESS LEVERAGE MODELS 81EXHIBIT
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RISKINESS LEVERAGE MODELS 83
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WHY LARGER RISKS HAVE SMALLER INSUR
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ADDRESS TO NEW MEMBERS 151ateship a
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ADDRESS TO NEW MEMBERS 153You shoul
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ADDRESS TO NEW MEMBERS 155strength
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MINUTES OF THE 2005 CAS SPRING MEET
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MINUTES OF THE 2005 SPRING MEETING
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Volume XCII, Part 2 No. 177PROCEEDI
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MODELING FINANCIAL SCENARIOS 179Bab
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MODELING FINANCIAL SCENARIOS 209TAB
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MODELING FINANCIAL SCENARIOS 213FIG
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MODELING FINANCIAL SCENARIOS 215str
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MODELING FINANCIAL SCENARIOS 223are
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MODELING FINANCIAL SCENARIOS 233ete
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MODELING FINANCIAL SCENARIOS 235[10
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MODELING FINANCIAL SCENARIOS 237[30
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WHEN CAN ACCIDENT YEARS BE REGARDED
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THE APPLICATION OF FUNDAMENTAL VALU
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A NEW METHOD OF ESTIMATING LOSS RES
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ARCHITECTURE FOR RESIDENTIAL PROPER
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ESTIMATING THE WORKERS COMPENSATION
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INCORPORATION OF FIXED EXPENSESGEOF
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DISCUSSION OF PAPER PUBLISHED INVOL
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APPLICATION OF THE OPTION MARKET PA
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OBITUARIESROBERT GRANT ESPIECLYDE H
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OBITUARIES 825SIDNEY M. HAMMER1931
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OBITUARIES 827J. GARY LaROSE1947—
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OBITUARIES 829PAUL J. SCHEEL SR.193
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OBITUARIES 831LEO M. STANKUSCirca 1
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INDEX TO VOLUME XCIIPage2005 EXAMIN
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835GRAVES, CLYDE H.INDEX—CONTINUE
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837INDEX—CONTINUEDREPORT OF THE V
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PROCEEDINGS May 15, 16, 17, 18, 2005 - Casualty Actuarial Society

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