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Why You Need the Best Actuaries
Our actuaries boast over a decade of experience each with multiple degrees pertaining to their areas of expertise. We pride ourselves on only hiring the best in the industry with a minimum requirement of being a fellow within a recognised actuarial society.
At Kühlanthal Actuaries we perform actuarial calculations for a wide range of legal matters that can stem from causes such as motor vehicle accidents (MVA’s), medical negligence, wrongful dismissal, maintenance, divorce settlements or commercial matters. In particular, we specialise in actuarial reports for third party claims against the Road Accident fund (RAF).
Our Areas Of Expertise
Services
Road Accident Fund (RAF)
The Road Accident Fund (RAF) compensates any person injured in a motor vehicle collision in proportion to their responsibility in causing the accident, for the loss they incur because of such collision
Divorce Matters
At the dissolution of a marriage or civil partnership appropriate financial provision needs to be made for each of the parties. Pension entitlements are often the most important financial resource for a couple – apart from their home.
Deceased Estates
Our law provides for certain claims to be made against a deceased’s estate. Such claims are usually made by the spouse or the dependants of the deceased. While the law sets out the legal basis for such a claim to be successful, for the estate to be wound up, the claim must be paid out as a lump sum.
Personal Injuries
The law of delict in South Africa allows for any person injured or the dependants of any person killed, by the negligent act of another, to claim from the responsible party, for the loss incurred because of such a negligent act.
Medical Negligence
The law of delict in South Africa allows for a victim (or a deceased’s dependants) of medical negligence to be compensated by the responsible party for any loss of earnings (or loss of support in the case of the dependants of a deceased) and future medical costs incurred as a result of such negligence.
Employee Benefits Valuations
When an employee loses their livelihood as a result of redundancy or unfair dismissal, actuarial calculations need to be made as to the value of the loss of their net income and other benefits, with a view to placing the individual back in the position that would have applied had the loss not occurred.
Loss of Support Claims
We provide the financial calculations that quantify the loss of income to the injured party or the loss of support to the dependants of the breadwinner in the event of a fatal accident.
Road Accident Fund (RAF)
The Road Accident Fund (RAF) compensates any person injured in a motor vehicle collision in proportion to their responsibility in causing the accident, for the loss they incur because of such collision. An actuary is required to calculate the loss of earnings an injured person suffers as a result of such an accident by comparing the difference between the financial situations prior to and after the accident in terms of the law of delict. The actuary applies certain legal, mortality, interest, and inflation assumptions, amongst others, to earnings data provided by an Industrial Psychologist, to arrive at the monetary loss which is then paid in a lump sum to the victim.
Deceased Estates
Our law provides for certain claims to be made against a deceased’s estate. Such claims are usually made by the spouse or the dependants of the deceased. While the law sets out the legal basis for such a claim to be successful, for the estate to be wound up, the claim must be paid out as a lump sum. The actuary is called upon to calculate that lump sum by applying mortality, inflation, and interest assumptions based on the data provided by the party. We provide a list of all the information required to do a calculation that will fully comply with the Maintenance Act for children, or the Maintenance of Surviving Spouses Act for the spouse.
Divorce Matters
During a divorce it often happens that parties want to settle the monthly maintenance obligation in the form of a lump sum payment. The actuary projects these monthly payments into the future in line with the applicable inflation rate, and then calculates a capitalised value (i.e. replaced with a lump sum) by considering the interest that will be earned on the lump sum, and the recipient’s probability of survival (mortality). The actuary can either provide a report reflecting the capital value for each R1 000 maintenance per month based on the age and gender of the recipient, or a more detailed report capitalising individual expense items.
