The actuarial profession has made a significant contribution to the prudential governance of long-tailed statutory insurance classes for the past 30 years. Our work in general insurance business began in earnest during the 1970s and accelerated after the work of Sir Owen Woodhouse introduced a...

There is a gap in tort recovery for many hazardous release victims. Hazardous spill victims receive different damage compensation based solely upon the type of hazardous substance released, with oil spill victims benefiting from a number of statutory damage recovery mechanisms that victims of...

Little is known about the economics of plaintiff-side law firms, which typically work on a contingency fee basis. We begin here to fill that gap. We report on the fees received by 124 plaintiff-side personal injury firms located in four states (Illinois, Texas, and two additional undisclosed...

In this “scholarative,” combining personal narrative and traditional doctrinal scholarship, the author uses a story about personal loss to argue for a new type of wrongful death damages.When a tortiously caused death occurs, five losses/injuries result: (1) the decedent's life itself; (2) the...

This article deals with the method of calculating lost profits, or determining the relevant basic formula, respectively. The aim is to summarise the knowledge about the used calculations, evaluate them and comment on the possibility of their use with regard to the purpose of the prepared...