charles l. mcclenahan 10 south wacker drive, chicago, il 60606 reg-1 the actuary as an expert...
TRANSCRIPT
Charles L. McClenahan10 South Wacker Drive, Chicago, IL 60606
REG-1The Actuary as an Expert Witness
The Care and Feeding of Lawyers
CAS Seminar on Ratemaking - March, 2006
A C T U A R I A L C O N S U L T I N G
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The Care and Feeding of Lawyers
The only downside of expert witness work is the requirement that one deal with lawyers
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The Care and Feeding of Lawyers
Problems Created by Lawyers
– Attempting to paraphrase
– Attempting to stretch or bend opinion
– Attempting to summarize
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The Care and Feeding of Lawyers
Attempting to Paraphrase
– Expert has obligation to avoid misleading testimony
– Limitations and underlying assumptions must be disclosed
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The Care and Feeding of Lawyers
Attempting to Stretch or Bend Opinion
– Language of actuarial science very precise
– Each word can be important
– Proper questions yield predictable answers
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The Care and Feeding of Lawyers
Attempting to Summarize
– Lawyers like simple answers
– Rarely are the answers simple
– Expert has obligation to avoid misleading
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The Care and Feeding of Lawyers
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The Care and Feeding of Lawyers
Lawyers Can Be Trained!
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The Care and Feeding of Lawyers
• Educate Lawyer on Actuarial Language
- Analogize with contracts (where lawyers are familiarwith verbal precision)
- Correct misunderstandings before you testify
- Explain technical issues and why precise wording is necessary
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The Care and Feeding of Lawyers
• Set Precise Limits on Opinions
- State them early
- State them in writing
- Make certain lawyers know limits
- Resist fuzziness
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The Care and Feeding of Lawyers
• Focus on Questions (Answers are Easy!)
- Discuss goals of your testimony
- You should draft questions
- Make certain lawyers understand technical terms
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The Care and Feeding of Lawyers
“An expert knows all the answers - if you ask the right questions.”
- Unknown
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The Care and Feeding of Lawyers
Actuaries Create Problems Too!
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The Care and Feeding of Lawyers
Problems Presented by Actuaries
– Threatening Subject
– Personality (or Lack Thereof)
– Complex Issues
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The Care and Feeding of Lawyers
Threatening Subject
– Lawyers hate, don’t understand math
– Actuary must make it interesting
– Actuary must keep it simple
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The Care and Feeding of Lawyers
Personality
– “I’m not weird, just unusual”
– “I understand this is difficult”
– “I’m here to help you understand”
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The Care and Feeding of Lawyers
Complex Issues
– Actuary must simplify
– Visual aids where possible
– Do not condescend or patronize
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The Care and Feeding of Lawyers
A Roadmap to Successful Testimony
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The Care and Feeding of Lawyers
Your Testimony
– Be clear on your opinions
– Write out your direct testimony
– Anticipate weaknesses
– Roll-play your cross examination
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The Care and Feeding of Lawyers
Opposing Expert’s Testimony
– Help your lawyer understand opinion
– Write out cross examination
– Roll-play your opponent’s testimony