Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update

Abstract

This article reports the main results of the 2013 Risk Premium Project update, a yearly review of actuarial and finance literature on the theory and empirics of risk assessment for property-casualty insurance. The literature review reveals a broad variety of topics, with a strong leaning toward catastrophe risk, market efficiency, and new valuation techniques. Within the field of catastrophe risk, the role of weather and climate-related risks for the insurance sector is reviewed and both the threats and the opportunities arising from the changing risk landscape are discussed.

Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2014 Update

“…RPP has received a great deal of attention from both CAS members and the nonlife insurance community, evidenced by the frequent visits to the RPP webpage (http://www.casact.org/rpp2) since January 2011. Thus, COTOR has conducted RPP updates yearly since 2012 (see Biener and Eling, ; Biener et al., ; Eling, ). The annual RPP updates have two core elements: (1) an update of the RPP literature collection (bibliography database), which provides up‐to‐date knowledge on and techniques for nonlife risk assessment, and (2) the annual update report, which structuralizes and synthesizes new knowledge and techniques, thus highlighting and analyzing important developments in nonlife risk assessment.…”