The Smart Tables® is a tool to be used to assist in the valuation of loss of future earnings in matters in common law jurisdictions which involve injury, disability and death. It will produce multipliers that are based on actuarial principles.

Anyone. Access to the use of The Smart Tables® is not restricted.

To reduce the cost, time and uncertainty associated with litigation and to bring consistency to awards for Loss of Future Earnings, using actuarial principles, applied in the context of data available in Trinidad and Tobago.

Trinidad and Tobago is the first jurisdiction in which The Smart Tables® methodology has been introduced. Though The Smart Tables® themselves have not been used, the underlying principles have long been applied with judicial support in the UK. The Smart Tables® is the first attempt at localizing the supporting data.

Actuaries are able to apply established statistical models, economic assumptions, and professional standards to develop fair and consistent multipliers. Their experience ensures that the calculation of the multiplier is evidence-based, objective, and aligned with the long-term financial and demographic expectations. As a result, actuarial input helps to determine a multiplier that is transparent, technically sound, and equitable.

No.

Yes. The Smart Tables® are premised upon demographic assumptions. However, multipliers generated by The Smart Tables® are always within the context of the evidence in any particular case - so that there may be adjustment to The Smart Tables® multiplier by the court based on evidence of comorbidity, shortened life-span, other mortality or health risk factors.

The traditional approach to multipliers was to reduce the number of years during which a person was likely to earn an income by an often arbitrary estimate to take into account uncertainties. By factoring into local and relevant data, The Smart Tables® produces a more certain result.

Yes. Loss of future earnings is often the largest component of an award of damages in personal injury cases; and so, the multiplier is usually a point of divergence between the parties which results in the failure of negotiations. The Smart Tables® removes that uncertainty.

Yes. The Smart Tables® would be reviewed at intervals to ensure its underpinnings remain apt.

The multiplier generated by The Smart Tables® may be relied upon in any case through agreement between the parties. If there is no agreement, the party propounding the multiplier generated by The Smart Tables® may adduce expert evidence thereon from any of the actuaries on The Smart Tables® Team.