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The Actuarial Standards Board (ASB) recently approved an exposure draft of a revision of Actuarial Standard of Practice (ASOP) No. 17, Expert Testimony by Actuaries. The proposed revised standard will apply to actuaries who are qualified as experts under the evidentiary rules applicable in a forum when they provide testimony in court hearings, dispute resolutions, depositions or other adversarial proceedings, and in rate hearings. The proposed revised standard will not apply to an individual whose testimony and qualification as an expert is unrelated to the individual’s education, training, experience, or employment as an actuary.
The comment deadline for the exposure draft is June 30, 2017. Information on how to submit comments can be found in the draft.
Key changes from the existing ASOP No. 17 include addressing some provisions that might be construed as inconsistent with the rules of evidence or procedure or any other rules that may be applicable in any particular forum, and clarifying that an actuary does not violate the standard if the actuary reasonably relies on the advice or instruction of an attorney or other representative of the principal about the proper application of the rules of evidence or procedure or any other rule applicable in the particular forum.
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