The ASB adopted new a revision of No. 17, Expert Testimony by Actuaries. The revision of ASOP No. 17 applies 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, rate hearings, legislative hearings, or other similar proceedings. The exposure draft was issued in April 2017, and 11 comment letters were received and considered in making changes that are reflected in the final ASOP. Notable changes to the revision include rewording section 1.2, Scope, to provide additional guidance regarding the circumstances under which the standard applies and clarifying the definition of “expert.” The standard will be effective for all expert testimony provided by the actuary on or after Dec. 1, 2018. ASOP No. 17 can be viewed here.
