IARP New England Spring Webinar Series - May 7

Implications of Proposed Legislation To Ban Consideration of Gender and Race on Damages Calculations

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Description:

Steven Shapiro, Ph.D. will discuss the implications of legislation designed to prohibit discrimination on the basis of race or gender in damages awards in personal injury and wrongful death litigation. Dr. Shapiro will discuss the recently enacted California Civil Code §3361 that prohibits “the estimation, measure, or calculation of past, present, or future damages for lost earnings or impaired earning capacity resulting from personal injury or wrongful death from being reduced based on race, ethnicity, or gender.” He will also discuss the Federal Fair Calculations in Civil Damages Act that was introduced in Congress and proposed legislation in other jurisdictions in the context of the current status of the law in various jurisdictions nationally. Dr. Shapiro will provide a brief review of the process by which economists calculate economic loss in personal injury and wrongful death cases. Dr. Shapiro will discuss the implications of such legislation on elements of an economist’s damages calculation, including:

  • Life expectancy;
  • Worklife expectancy;
  • Earnings growth;
  • Estimating the lost earnings of children; and
  • Valuation of life care plans.

Dr. Shapiro will also discuss the mandated use of unisex mortality tables in some jurisdictions and the impact on valuing pensions and life care plans as an element of economic loss.

Objectives:

As a result of this activity, participants

  • Be familiar with existing and proposed laws designed to prohibit discrimination on the basis of race, gender or ethnicity in the calculation of economic damages in personal injury and wrongful death litigation;
  • Learn how proposed and existing laws designed to address discrimination will potentially affect economists, as well as testifying experts in related fields such as life care planners and vocational experts; and
  • Gain an understanding of the implications of existing and proposed legislation on the computed values of economic damages computed by testifying experts.

Presenter:

Steven J. Shapiro, Ph.D.: Steven J. Shapiro, Ph.D. is currently Director of the Risk Management Center, as well as Professor of Finance at New York Institute of Technology. Prior to joining New York Institute of Technology, he was Professor of Economics and Finance at the University of New Haven. He also operates Analytic Resources, LLC. He earned a B.A. in Economics and Mathematics from the University of Virginia, an M.A. in Economics from Georgetown University and a Ph.D. in Economics from Georgetown University. He has over 30 years of experience providing litigation support and expert testimony. He has analyzed economic damages in patent and trademark infringement, breach of contract, antitrust, personal injury, wrongful death and employment litigation. He has also conducted statistical analyses of discrimination. Dr. Shapiro has valued closely held businesses and financial assets, including stock based compensation and pensions. He has also evaluated and reported on issues of earning capacity in actions for dissolution of marriage.  He has testified in Federal courts in Connecticut, Maine, New York and the District of Columbia, as well as State courts in Connecticut, Massachusetts, New York and Rhode Island. He is a former President of the National Association of Forensic Economics (NAFE) and also an Executive Editor of the Journal of Forensic Economics. Dr. Shapiro has published on such topics as estimating damages in personal injury and wrongful death matters in Connecticut and Rhode Island; the estimation of employee stock options; estimating reasonable royalty rates in patent infringement litigation; and scheduled damages in the American tort law environment.

CEUs:

Approval has been received for 6 CEU ethic credits for CRCs (for the Bundle). Approval pending for ABVE and CLCP.

Cost:

Free

If you need to request reasonable accommodations, contact Erin at erin.bailey@crc-s.com.

Event Date(s)

When:  May 7, 2021 from 12:00 PM to 2:00 PM (ET)