CAS Releases the 2021 Fall E-Forum Featuring Prize-Winning Reinsurance Paper

The CAS is pleased to release the Fall 2021 E-Forum, which includes the winner of the 2021 CAS Reinsurance Prize  — “The Roulette Wheel and the Drunken Sailor: Principal-Agent Theory and its Ramifications for Insurance and Reinsurance Risk Management,” by Neil M. Bodoff, FCAS, MAAA.

The paper unlocks new insights that differ from prior paradigms, which have overlooked the role of human motivations, and better explains observable phenomena in the insurance market. Bodoff contends that non-systemic and non-tail risks should be incorporated into the cost of insurance risk.

The release of the Fall 2021 E-Forum represents CAS’s on-going commitment to advancing the field of actuarial science and preparing its members for opportunities and challenges in the future.