Orio Giarini, the developer of an insurance institute, and Siegfried Sellitsch, retired chief executive of Austria's largest insurance group, have been named to the Insurance Hall of Fame, the International Insurance Society Inc. announced.
Mr. Giarini, the first secretary general of the Geneva Association in Switzerland, and Mr. Sellitsch, who is retired from Wiener Staedtische, will be honored July 17 in Chicago at the International Insurance Society's (IIS) annual seminar at the Westin Chicago River North hotel.
IIS said that in Hong Kong it is honoring Arthur Bailey, 1905-1954, for pioneering use of the "Bayesian approach" to credibility theory for property-liability insurance companies.
Mr. Giarini, IIS said, is being honored for his work in developing his risk and insurance research institute in Geneva. He holds associate professorships of economics at the European Institute of the University of Geneva and the University of Geneva.
Mr. Sellitsch, IIS said, became the "face" of the insurance industry in Austria after he joined Wiener Staedtische in 1966.
The two newest members of the Insurance Hall of Fame join 116 other laureates. IIS said all have been honored because of their contributions to the advancement of insurance locally or globally and innovation in developing insurance benefits for the well-being of society and individuals.
The Insurance Hall of Fame is sponsored in New York by the International Insurance Society Inc., a nonprofit educational enterprise of insurance executives with almost 1,000 members representing 90 nations.
Biographies, photos and other Insurance Hall of Fame material are available online at www.InsuranceHallofFame.org. and in New York City at the St. John's University Claire and Joseph Smetana Gallery.
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