n 2005, there was an explosion in a plant in Texas where there were hundreds of injuries and deaths. British Petroleum eventually settled this case with the Plaintiffs. In determining the damages, a certain sub-group of the Plaintiffs is used to calculate the damages for all of the Plaintiffs. Mr. Bass, a Managing Director at Accumyn and Fellow of the Society of Actuaries, was the expert for British Petroleum regarding the losses for all of the Plaintiffs, whether it be Personal Injury, Wrongful Death or Cost of Future Care.
Mr. Bass was an actuarial consultant for the Allied Pilots Association of American Airlines in their dealings with American Airlines and its parent company, AMR. During labor negotiations, they could not come to an amicable arrangement regarding Pension Plans and Health Insurance Plans. The agreed to take the case to Binding Arbitration before a Magistrate where his decision would be final. The case involved a difference of opinion of tens of millions of dollars. It was agreed that there would be a minimum amount (which American Airlines desired) to a maximum amount (which the Allied Pilots Association desired). While there were many parties involved in this matter, Mr. Bass testified on behalf of the Allied Pilots Association as to the economic requirements for the Allied Pilots Association. The final ruling by the Arbitrator was outside the range in favor of the Allied Pilots Association.