Seven Award Winners Honored

Winners of annual CAS Awards and the first American Risk and Insurance Association (ARIA) Prize were honored at the CAS Business Session held during the 1997 CAS Annual Meeting last November in Palm Desert, California.

Among the honorees, Paul M. Otteson was awarded the Matthew Rodermund Service Award. The award recognizes a CAS member, or members, who have made significant volunteer contributions to the actuarial profession. Otteson earned his Fellowship in 1957 and has been involved in numerous CAS committees for over three decades.

Stephen P. Lowe and James N. Stanard received the Hachemeister Prize for their paper entitled, "An Integrated-Dynamic Financial Analysis and Decision Support System for Property Catastrophe Reinsurers." The Hachemeister Prize is awarded to the author of an ASTIN paper selected by the CAS as having a significant impact for North American actuaries and practicality of application.

Leigh J. Halliwell tapped the 1997 Woodward-Fondiller Prize for his paper "Loss Prediction by Generalized Least Squares." Commemorating the work of Joseph H. Woodward and Richard Fondiller, the award is intended to stimulate original thinking and research and is given to the best eligible paper each year submitted by an Associate or Fellow who has attained his or her designation within the last five years.

Sholom Feldblum and Glenn G. Meyers shared the 1997 Dorweiler Prize which commemorates the work of Paul Dorweiler. The award is subject to the same conditions as those specified for the Woodward-Fondiller Prize, except that the Dorweiler Prize will be awarded to the best eligible paper each year submitted by an Associate or Fellow who has attained his or her designation more than five years ago. Feldblum won for his paper "Personal Automobile Premiums: An Asset Share Pricing Approach for Property-Casualty Insurance" and Meyers for his paper "The Competitive Market Equilibrium Risk Load Formula for Catastrophe Ratemaking."

The first-ever ARIA Prize winner, Daniel Zajdenweber, presented his paper, "Extreme Values in Business Interruption Insurance" at the CAS Annual Meeting. Zajdenweber was awarded the prize at the annual ARIA Meeting, held in August 1997. The prize is made to the author of a paper published by ARIA that provides the most valuable contribution to casualty actuarial science. Papers eligible for the prize include articles, workshop articles, and invited papers published in the Journal of Risk and Insurance during the preceding year. Papers published in new ARIA journals may also be eligible for this award.