The Role of Independent Actuaries in Traffic Accident Damages for Public Interest

Traffic accidents, as well as other accidents in which there is a responsible party for the damages caused, are an area in which actuaries are called upon to play a central role in terms of the "fair" valuation of certain damages suffered by individuals, whether it is a matter of loss of earnings or consequential damages (need for assistance from a third party, for example).This paper will address several issues related to the conceptualization of the compensation system. In particular, we address the special nature of the system as its purpose is to protect the injured parties, not the insurance consumers, which in fact means a protective action of society (concern for the public interest). It is in itself a social protection system, in which citizens, as potential victims, rely on actuaries to obtain a fair value.In short, there is a singular relevance that the role of the actuary gains, which in this case must be independent, and who carries out the assessment of the property damages suffered by the victims and other injured parties (in the event that they die). That is why society as a whole must be interested in protecting this role described and vice versa.