The Committee on Theory of Risk (COTOR) began the Risk Premium Project (RPP) in 2000 with RPP I, which represented an extensive, thorough, and up-to-date analysis of the theory and empirics of risk assessment for property-casualty insurance. Given the vast development in this field, the RPP II update extended the findings from RPP I with research done through 2010, and has continued with annual updates since then.
COTOR is extremely proud of the RPP II Database, and we’d like to make sure members of the CAS are aware of its existence and all the resources it has to offer. The project has three goals:
- Maintain and update the literature bibliography, incorporating literature from reinsurance, risk management and catastrophe sources,
- Revise the key conclusions included in RPP I and II in light of additional literature and results of empirical studies, and
- Derive recommendations for potential empirical studies in order to enhance the understanding of the current theories, further quantify particular aspects, and update and provide alternatives to recent models produced.
The RPP II Database provides users with access to over 1,000 articles on a variety of topics and categories including Catastrophe Risk, Capital Allocation, and CAPM/Asset Pricing. Many of these articles are free to the public, but some link to paid journals. There are various methods of searching the database to achieve a user’s desired results, including author search, topic, and year of publication.
Dr. Martin Eling is the main researcher behind the annual updates, and also provides a report on his findings which is published in conjunction with the update. The report highlights the main findings of the year’s publications that were added to the database. In addition, Dr. Eling presented Webinars in 2012 and 2013 in which he outlined his findings for the previous years.
COTOR invites anyone interested in finding out more about specific topics or looking to browse subjects casually to spend time exploring the RPP II Database. Have you used RPP II? Have you found any articles that you’d like to share with the CAS community at large? Be sure to post your favorites in the comments!