(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
2022
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
2019
Bertram A. Horowitz
Relative Unpaid Claims Loss Reserving
2016
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
2015
David R. Clark and Diana Rangelova
Accident Year / Development Year Interactions
2014
Peng Shi & Brian Hartman
Credibility in Loss Reserving
Runner-Up
Rajesh Sahasrabuddhe
Applying Credibility Concepts to Develop Weights for Ultimate Claim Estimators
2013
Marc B. Pearl and Jeremy Smith
An Enhanced On-Level Approach to Calculating Expected Loss Costs
Runners-up
Karen H.S. Adams
Chain Ladder Reserving Methods for Liabilities with Per Occurrence Limits
Bertram A. Horowitz
Aggregate Loss Reserve Analysis by Accounting Date
2012
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
2011
No program held.
2010
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”
2009
No Program Held
2008
James Guszcza
“Hierarchical Growth Curve Models for Loss Reserving”
2007
No Program Held
2006
Glenn G. Meyers
"Estimating Predictive Distributions for Loss Reserve Models"
2005
No Award
2004
Richard E. Sherman and Gordon F. Diss
"Estimating the Workers' Compensation Tail"
2003
David R. Clark
"LDF Curve-Fitting and Stochastic Reserving: A Maximum Likelihood Approach"
2002
No Award
2001
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"
2000
Allen J. Gould, ACAS, MAAA, and Orin M. Linden, FCAS, MAAA,
"Estimating Satellite Insurance Liabilities"
1999
Thomas Struppeck,
"Premium Earning Patterns for Multi-Year Policies with Aggregate Deductibles"
1998
Chandrakant C. Patel and Alfred Raws III,
"Statistical Modeling Techniques for Reserve Ranges: A Simulation Approach"
1997
Prakash Narayan and Thomas V. Warthen III,
A Comparative Study of the Performance of Loss Reserving Methods Through Simulation"
1996
Jeffrey J. Scott,
"Workers Compensation Medical Reserving with Calendar Year Payments in a Cost Containment Environment"
1995
No Program Held
1994
Susan L. Cross and John P. Doucette,
"Measurement of Asbestos Bodily Injury Liability"
