Actuarial Notes

CAS Exam 6C Spring 2017, Question 6

Study guide: Exam 6C

Part a (0.5 points)

Describe the concept of joint and several liability.

Part b (0.5 points)

Briefly describe two arguments in favour of joint and several liability.

Part c (0.25 points)

Briefly describe one argument against joint and several liability.

Part d (0.25 points)

Briefly describe the concept of proportionate liability.

Part e (0.5 points)

Briefly describe two reforms to joint and several liability which may reduce settlement costs for the defendant.

Part f (0.25 points)

Briefly describe the term "peripheral asbestos defendants".

Part g (0.25 points)

Briefly describe how peripheral asbestos defendants may be disadvantaged in a jurisdiction that applies joint and several liability.

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