Professional Development
2017 Actuarial Evidence Seminar

Montréal: ITHQ – Québec Tourism and Hotel Institute, 3535 St-Denis

Program at a Glance

Sunday, September 24
12:00 – 17:00 Registration/Information Desk
13:00 – 15:00 Sessions
15:00 – 15:15 Networking Break
15:15 – 16:45 Sessions
17:00 – 18:30 Reception

Monday, September 25
 7:30 – 16:00 Registration/Information Desk
 7:45 – 08:30 Continental Breakfast
 8:30 – 10:15 Sessions
10:15 – 10:30 Networking Break
10:30 – 12:15 Session
12:15 – 13:15 Luncheon
13:15 – 15:00 Sessions
15:00 – 15:15 Networking Break
15:15 – 16:00 Session
16:00 – 16:05 Closing Remarks


Sunday, September 24, 2017

10:00 – 12:00 Meeting of the Committee on Actuarial Evidence
Observers are welcome.

Sunday, September 24, 2017

12:00 – 17:00 Registration and CIA Information Desk

13:00 – 13:05 Opening Remarks and Seminar Overview
Craig Allen (FCIA), Chair, Committee on Actuarial Evidence

13:05 – 14:05 Session 1 • Wrongful Dismissal Matters and Actuarial Evidence

Don Tettmar (FCIA), president, DT&A

This session will offer an introduction to wrongful dismissal litigation, and the role of the actuarial expert. This is a market that can involve large and complex files, often with corporate clients. Many issues are not prescribed, which makes the files challenging.

14:05 – 15:00 Session 2 • An Oversight in Pension Values

Frank Reynolds (FCIA), president, Reynolds, Thorvardson

What effect does permanent disability have on a pension's value for marital breakdown when the plan continues to accrue benefits as long as the person is disabled? What is the effect on the pension's value when a non-Canadian jurisdiction is the site of the court proceedings? This session will examine these two questions.

15:00 15:15 Networking Break

15:15 – 16:15 Session 3 • Income Tax Gross-up: A Primer

Carolyn Jolly (ACIA), actuarial associate, McKeating Actuarial Services
Kelley McKeating (FCIA), actuary, McKeating Actuarial Services

This session will provide an overview of everything you’ve always wanted to know about income tax gross-up, and more! Topics will include a review of which damage awards are taxable and which are not; the most common approaches to dealing with income tax gross-up in each of those categories; and at least one relevant legal decision. The speakers will provide an overview of how gross-up is handled (or not handled) in the various Canadian jurisdictions, and then introduce the educational resources available to AE actuaries. If there’s time, there may even be a numerical example! 

16:15 – 16:45 Session 4 Update from the Committee on Actuarial Evidence

Craig Allen (FCIA), Chair, Committee on Actuarial Evidence

Members of the Committee on Actuarial Evidence 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 provide comments.

17:00 - 18:30   Reception
Take this opportunity to meet with colleagues and enjoy some light refreshments.

Monday, September 25, 2017

7:45 – 8:30 Continental Breakfast

8:30 – 9:30 Session 5 • The Valuation of Life Estates

Craig Allen, (FCIA), senior consultant, Commonwealth Research Group,
Stephen Cheng (FCIA), managing director and senior consulting actuary, Westcoast Actuaries

A life estate is the ownership of real property that ends at death. Actuaries have a long history of providing valuation of life estates. This session will provide a how-to guide for the valuation methodology, and illustrate applications of the valuation of life interests.

Brian Burnell, FCIA, is unable to attend the session but contributed to its content.

9:30 – 10:15 Session 6 • Actuarial Evidence in Tax Cases

Pooja Mihailovich*, partner, Osler, Hoskin & Harcourt
Hemant Tilak (FCIA), partner, Osler, Hoskin & Harcourt

Actuaries may be called upon in tax cases to provide advice either at the audit or appeals stage, or to serve as a witness if the case proceeds to litigation. To be an effective advisor or witness, it is important to understand the differences between fact and expert evidence. This session will review the differing roles and responsibilities of fact and expert witnesses in the Tax Court. It will also review practice-specific standards and additional procedural rules governing the admission of expert evidence.

10:15 10:30 Networking Break

10:30 – 11:15 Session 7 • The Impact of Insurance Company Claims Department Analytics

Carl Lambert*, vice-president, national P&C business intelligence, The Co-operators

Analytics has become a powerful tool for the management of insurance company claims, and may have an impact on the engagement of actuarial evidence practitioners. This session will outline the conditions that create a true partnership between claims operations and analytics. Illustrative examples will include claim fraud detection, fast tracking, vendor evaluations, and the involvement of lawyers. The session will conclude with a preview of the impact of artificial intelligence in insurance.

11:15 – 12:15  Session 8 • Potential Pitfalls in Quantifying Lost Business Income
Simon Gosselin*, senior manager, Quotient Forensic Accountants

Mr. Gosselin will provide an overview of best practices in the quantification of business income. He will also discuss how to avoid a potential duplication of the damages claimed, and many other traps and pitfalls which may arise.

12:15 – 13:15 Luncheon

13:15 – 14:00 Session 9 • Economic Scenario Generators: Implications of the Persistent Low Interest Rate Environment

Blair Manktelow (FCIA), principal, property and casualty, Eckler 

Economic scenario generators (ESGs) are tools for modelling interest rates, among other economic variables. This session will present models that incorporate monetary policy rules and implications of the neutral rate of interest; the integration of publicly available forecasts; difficulties in fitting the shape of the yield curve; strength of mean reversion; and applicable CIA guidance.

14:00 – 15:00  Session 10 • The Marshall Report on Ontario Auto Insurance

David Marshall*, advisor to the Ontario government on pensions and auto insurance

David Marshall, the former president and CEO of Ontario’s Workplace Safety and Insurance Board, was commissioned by the Ontario Ministry of Finance to make recommendations to improve health outcomes for those injured in collisions while reducing insurance costs for Ontario drivers. His report was issued in April 2017. Mr. Marshall will outline and discuss the recommendations in his report. 

15:00 – 15:15 Networking Break

15:15 – 16:00
  Session 11 • The Resolution of Personal Injury Matters – a New Paradigm
Michele Bruton*, director, Isthmus Analytics, Isthmus Legal
Sandeep Jindal*, legal counsel, Isthmus Group of Companies

Managing the total outcome of the claimant's injuries to achieve the most effective mitigation of loss is a powerful innovation that is mutually beneficial for both claimant and defendant/insurer. Such an approach moves the assessment of damages to an earlier stage of the handling of the matter. The speaker will outline this approach and how it has proven effective for all involved. 

16:00 – 16:05 Concluding Remarks

Craig Allen (FCIA), Chair, Committee on Actuarial Evidence

*Not a member of the CIA.