Professional Development
AE Seminar

Actuarial Evidence Seminar

Toronto: Eaton Chelsea Hotel, 33 Gerrard Street

September 12-13, 2014


Thursday, September 11, 2014

16:30 – 18:30 – Committee on Actuarial Evidence annual planning meeting
                          Observers are welcome.

Friday, September 12, 2014

07:30 – 17:00 – Registration and CIA Information Desk

07:30 – 08:30 – Buffet Breakfast

08:30 – 08:45 – Welcoming remarks and overview of the seminar
Mike Kavanagh and Mel Norton

08:45 – 09:15 – Session 1 • Update from the Committee on Actuarial Evidence
Kelley McKeating (FCIA), consulting actuary, Dilkes, Jeffery & Associates
Brian Burnell (FCIA), actuary, Burnell Actuarial Consulting
David Wolgelerenter (FCIA), actuary, DSW Actuarial Services

Members of the Committee on Actuarial Evidence (AEC) will provide an update on its recent activities and a summary of its plans and priorities for the coming year. This is your opportunity to ask questions and give input to the AEC.

09:15 – 10:00 – Session 2 • AE and the CIA’s Strategic Objectives
Kelley McKeating (FCIA), consulting actuary, Dilkes, Jeffery & Associates
Sharon Giffen (FCIA), president, Foresters Life Insurance Company and CIA Board member

At present, the CIA’s top two strategic objectives are to “influence policy setting” and “build the Canadian brand”. Several initiatives of the AEC for 2013–2014 and 2014–2015 are aligned with these priorities, and have proceeded/will proceed with support from the CIA Head Office. Learn more about the initiatives taken by the CIA to raise the profile of the AE practice area with key stakeholders and also to better serve our small practice area.

10:00 – 10:15 – Networking Break

10:15 – 11:15 – Session 3 • A Refresher Course on Landmark Legal Decisions
Normand Gendron (FCIA), Gendron actuaire-conseil
Kelley McKeating (FCIA), consulting actuary, Dilkes, Jeffery & Associates
An actuarial consultant from Broch Consulting

Most AE actuaries are somewhat familiar with the Supreme Court of Canada trilogy. But could we explain the key principles of those important decisions to a client or to a colleague? Since 1978, the courts have rendered many other important legal decisions related to personal injury and wrongful death damages that are relevant to actuarial practice. Are we familiar with those cases? Maybe not. Come along on a voyage through the past 35 years of jurisprudence as the speakers explore selected legal decisions of national and regional importance. The discussion will begin with the trilogy and move on to more recent developments of interest to actuaries.

11:15 – 12:00 – Session 4 • StatsCan Earnings Tabulations – A Hands-On Primer
Moderator and speaker:
Maryse Larouche (FCIA), GML Actuarial Services

Thanks to the new open licence agreements offered by Statistics Canada, the CIA has made earnings tables derived from the 2011 census available to CIA members free of charge. Thus, actuaries who may not have subscribed to the earnings tabulations in the past can now take advantage of these tables to assist in the quantification of lost earnings. This will be a hands-on introduction to the tables. Bring your laptops!

12:00 – 13:15 – Luncheon

13:15 – 14:15 – Session 5 • Professionalism
David Dickson (FCIA)
Doug Brooks (FCIA), president and CEO, Transamerica Life Canada
Karl Delwaide*, partner, Fasken Martineau Dumoulin
David Dickson

We all think we know the Rules of Professional Conduct, but do we really appreciate all of the inherent nuances? Two members of the Committee on Professional Conduct and legal counsel for the CIA will review the practical and legal considerations of our Rules.

14:15 – 15:15 – Session 6 • Mandated Discount Rates in Civil Litigation in Canada
Louis Martin (FCIA), Groupe-conseil CGAS
Peter Gorham (FCIA), president, JDM Actuarial Expert Services

A review of the findings from the recently-completed CIA-sponsored research project. The research looked at stakeholder attitudes towards mandated discount rates across Canada, and modelled how—with the benefit of hindsight—those rates have performed in the past for plaintiffs and defendants. What level of precision is necessary in order to satisfy government, the courts, and other interested stakeholders that pecuniary damage economic loss calculations are appropriate?  What are some other countries doing?

15:15 – 15:30 – Refreshment Break

15:30 – 16:45 – Session 7 • Role of the Expert Witness in Canada and the U.S.
Tom Schinbein (FCIA), actuary, Thomas Schinbein Actuarial Services
Craig Allen (FCIA), Commonwealth Research Group
Robert Harrison*, partner, Fasken Martineau Dumoulin

Many legal decisions rely on the testimony of expert witnesses. Sometimes most of the decision is focused on the role of the experts retained by one or both parties. The speakers will summarize some of the established and newly evolving practices that apply to opinion witnesses across Canada. They will introduce the audience to important recent guidance from the bench in Canada, and outline the role of an economic loss expert witness in the United States.

16:45 – 17:15 – Session 8 • The Inside Scoop on Structured Settlements
Kelley McKeating (FCIA), consulting actuary, Dilkes, Jeffery & Associates
Carlo Di Stefano (FCIA), Sun Life Financial

Structured settlements have long been a popular approach for pecuniary damage awards in personal injury cases. But how does the quantum paid by the defendant compare to the damages calculated according to the relevant mandated discount rates and rules of civil procedure? A life insurance actuary will provide a primer on how structured settlements are underwritten and priced. 

18:00 – 20:30 – Networking Dinner at Terroni Restaurant, 57 Adelaide Street East

Enjoy traditional Italian cuisine at this networking opportunity being held inside the historic former Adelaide court house.   Your classic Southern Italian dinner will be served Family Style and will include appetizers, salads, several choices of pasta, dessert and coffee.

Spouses and partners are welcome, but please note that advance registration and payment are required. No registrations for the dinner will be accepted after September 5 and no on-site reservations are permitted. The cost of the dinner is $45 per person, gratuity included. All beverages are extra.

No refunds are available if you are unable to attend after registering.


Saturday, September 13, 2014

07:30 – 08:30 – Buffet Breakfast

08:30 – 09:15 – Session 9 • Issues in Marriage Breakdown – Ontario and Beyond
Mel Norton, president, J.M. Norton Consulting

The Ontario government has effectively removed about 80 percent of the traditional “marriage breakdown pension valuation” role previously filled by AE practitioners by requiring pension administrators to provide pension valuations for matrimonial property equalization purposes. No other province has (yet?) followed suit. Despite the recent changes, Ontario AE practitioners may still provide a number of pension-related services to family lawyers. These include reviewing the appropriateness of the assumptions and the accuracy of the administrators’ valuation, valuing excluded pension benefits, calculating appropriate disposition costs (i.e., the income tax adjustment), explaining the tax consequences of partitioning the pension, and assisting with the drafting of the separation agreement. For the most part, these are services that actuaries outside of Ontario could also provide to clients. This will be an interactive session, so please bring your ideas and observations.

09:15 – 10:15 – Session 10 • Fatalities
Ian Karp (FCIA), consulting actuary, Karp Actuarial Services
Jay Jeffery (FCIA), Dilkes, Jeffery & Associates
Luc Rivest (FCIA), idML

Even the most experienced actuary may shudder at the inherent complexities of a wrongful death file: self-employment, pension loss, dependency rates, collateral benefits, and more. The speakers, all very experienced, will address the current issues, offer their insights, and answer questions from the floor.

10:15 – 10:30 – Networking Break

10:30 – 11:45 – Session 11 • Hot Topics in Actuarial Evidence
Peter Martin (FCIA), Golden Actuarial
Craig Allen (FCIA), Commonwealth Research Group
Ian Karp (FCIA), consulting actuary, Karp Actuarial Services
Mike Kavanagh (FCIA), principal, Townsend & Kavanagh, Actuarial Consultants
Luc Rivest (FCIA), idML
Peter Martin

In this highly interactive session, several AE practitioners will present problems of a professional or technical nature. The audience will be invited to offer answers and perspectives regarding the issues at hand: health-adjusted life expectancies, valuation of life interests, valuation of pension property under forfeiture scenarios (family law), valuation of pension losses (class actions), and complying with the Rules of Professional Conduct.

11:45 – 12:00 – Concluding Remarks
Mike Kavanagh and Mel Norton

12:00 – 13:30 – Joint lunch with Entrepreneurial Workshop attendees
                           Keynote Speaker: Peter Carayiannis

13:45 – 17:00 – Entrepreneurial Workshop: The Solo Actuary: Reinvent YOUR Future
Please click on this link for further information on this workshop and to register.

* Not of a member of the CIA.




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