Actuarial Tables with Explanatory Notes for use in Personal Injury and Death Claims

The courts use the multiplier/multiplicand methodology to ascertain the lump sum compensation paid to a person who has been injured or, in the case of death, his or her dependants. These tables do not address the multiplicand; these tables assist in the ascertainment of a suitable multiplier to be applied for loss of future earnings and future medical or other recurring expenses caused by the event leading to the loss.

Also included in the book are hypothetical scenarios to illustrate how the tables are to be used to assist in the calculations of the lump sum damages.

CONTENTS

Explanatory Notes

               Examples

Table 1 – Multipliers for Males

               Table 1-1: Age up to 10 at end of payments

               Table 1-2: Age up to 20 at end of payments

               Table 1-3: Age up to 30 at end of payments

               Table 1-4: Age up to 40 at end of payments

               Table 1-5: Age up to 50 at end of payments

               Table 1-6: Age up to 60 at end of payments

               Table 1-7: Age up to 70 at end of payments

               Table 1-8: Age up to 80 at end of payments

               Table 1-9: Age up to 90 at end of payments

               Table 1-10: Age up to 100 at end of payments

Table 2 – Multipliers for Females

               Table 2-1: Age up to 10 at end of payments

               Table 2-2: Age up to 20 at end of payments

               Table 2-3: Age up to 30 at end of payments

               Table 2-4: Age up to 40 at end of payments

               Table 2-5: Age up to 50 at end of payments

               Table 2-6: Age up to 60 at end of payments

               Table 2-7: Age up to 70 at end of payments

               Table 2-8: Age up to 80 at end of payments

               Table 2-9: Age up to 90 at end of payments

               Table 2-10: Age up to 100 at end of payments

Table 3 – Multipliers for Annuity Term Certain

Annex I – When the Tables are Not Applicable

Annex II – Members of the Personal Injury (Claims Assessment) Review Committee

Author(s)/Editor(s)/Contributor(s):

Members of the Personal Injury (Claims Assessment) Review Committee:

Mrs Hauw Soo Hoon (Chairperson)

Mr Frank Matthew McInerney

Dr Leow Yung Khee

Mr A K Cher

Mr Teo Weng Kie

Mdm Renuka Chettiar

Mr Colin Pakshong

Ms Lee Wai Yi

Members of the Personal Injury (Claims Assessment) Review Committee Subcommittees

Subcommittee 1 – Basic Multiplier Tables

Mr Frank McInerney (Chair)

Ms Lee Wai Yi

Mr Colin Pakshong

Mr Joey Zhou

Subcommittee 2 – Adjustment Tables

Mr Teo Weng Kie (Chair)

Mr Colin Pakshong

Mdm Renuka Chettiar

Dr Leow Yung Khee

Mr A K Cher

Mr Anthony Wee, Director, United Legal Alliance LLC

Ms Vivienne Sandhu, Partner, Clifford Law LLP

Subcommittee 3 – Discount Rates

Mr Colin Pakshong (Chair)

Mr Frank McInerney

Mr Fong Wai Seng, Director and Head of Division 3, Insurance Department, MAS

ABOUT THE EDITOR(S)/AUTHOR(S)

Mrs Hauw Soo Hoon is Operating Partner at iGlobe Partners (“iGlobe”). She has close to 30 years of corporate and regulatory experience in the local and international insurance industry. Prior to joining iGlobe in 2008, she was Senior Managing Director at Great Eastern Life Assurance, responsible for business strategies of the established markets of Singapore and Malaysia. From 2000 to 2005, Mrs Hauw was Executive Director of the Insurance Supervision Department at the Monetary Authority of Singapore (“MAS”). She was also active as a former member of the Executive Committee of the International Association of Insurance Supervisors. She is a former panel member of the Singapore Central Provident Fund (“CPF”) Board’s International Advisory Panel and of the Medishield Life Review Committee. She currently serves on the Medishield Life Council and the CPF Advisory Panel.

Mr Frank McInerney is a consultant actuary and former adviser in General Reinsurance AG Singapore Branch. He is Chair of Professional Affairs Subcommittee of the Singapore Actuarial Society.

Dr Leow Yung Khee was formerly Medical Director and Head of Group Insurance of Great Eastern Life Assurance Company Ltd. She is a trained medical doctor and has held several senior positions, including Head of Group Insurance and General Insurance and Head of New Business and Claims, in two major local insurance companies. She was previously a director with MAS, specialising in health insurance. She is currently the Convenor of the Group Insurance Subcommittee of the Life Insurance Association.

Mr A K Cher is currently Chief Executive Officer of Tokio Marine Insurance Singapore and Past President of the General Insurance Association Management Committee.

Mr Teo Weng Kie is a Senior Partner of Tan Kok Quan Partnership. He is currently the Head of the firm’s Insurance Practice Group.

Mdm Renuka Chettiar is a Partner of Karuppan Chettiar & Partners.

Mr Colin Pakshong is an independent actuarial consultant. He was formerly a member of the academia, specialising in actuarial science, Nanyang Business School, Nanyang Technological University.

Ms Lee Wai Yi is currently the Director and Head of the Supervisory and Analytics Division, Insurance Department, MAS.