Clarion Call Paper Program "Reserved" for '98 CLRS

The Committee on Reserves has received an excellent response to its 1998 Call for Papers, entitled "Best Estimates for Reserves." Eleven papers have been accepted in the program, which will be presented at five sessions at the 1998 Casualty Loss Reserve Seminar in Philadelphia on September 28-29. The call explores the issues that actuaries face in recommending the "best" estimate to book. The diversity in the papers submitted reflects a lack of consensus concerning the selection of a best estimate. The first session will specifically cover accounting and actuarial issues that arise in selecting the best estimate. Another session will explore the cognitive issues that affect the quality of the actuary's reserve estimate. The three remaining sessions will offer technical approaches to estimating the variability in loss reserves and selecting the best estimate. These papers include the application of utility theory, regression, and simulation techniques.

All the call papers will be included in the CAS Forum, Fall 1998 edition, which will be distributed in late August. A $1,000 prize will be awarded at the Casualty Loss Reserve Seminar to the best paper submitted in response to the call.