UNITED STATES BANKRUPTCY COURT

FOR THE EASTERN DISTRICT OF VIRGINIA

RICHMOND DIVISION

In re:

PATRIOT COAL CORPORATION, et al.,

Debtors.

Chapter 11

Case No. 15-32450 (KLP)

Jointly Administered

BLACK DIAMOND COMMERCIAL FINANCE, LLC,

Plaintiff,

-againstVIRGINIA CONSERVATION LEGACY FUND, INC. 

and ERP COMPLIANT FUELS, LLC,

Defendants.

Adv. Proc. No. 16-03105 

(KLP)

VIRGINIA CONSERVATION LEGACY FUND, INC. 

and ERP COMPLIANT FUELS, LLC,

Counterclaim-Plaintiffs,

-againstBLACK DIAMOND COMMERCIAL FINANCE, LLC,

Counterclaim-Defendant.

QUALIFICATIONS OF ROBERT K. BRISCOE 

PURSUANT TO LOCAL RULE 9017-1(B)

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Robert K. Briscoe is a Principal of Milliman Inc. (“Milliman”). Milliman is among the 

world’s largest providers of actuarial and related products and services. Founded in 1947, 

Milliman is an independent firm with offices in major cities around the globe. Milliman is 

owned and managed by principals/senior consultants, whose selection is based on their technical, 

professional, and business achievements. Milliman serves the full spectrum of business, 

financial, government, union, education, and nonprofit organizations. In addition to consulting 

actuaries, Milliman’s body of professionals includes numerous other specialists, ranging from 

clinicians to economists to casualty claims professionals, among many other specialists.

Mr. Briscoe holds the Workers Compensation Professional (WCP) designation of the 

American Society of Workers Compensation Professionals (AMComp) and is a member of the 

Board of Directors of AMComp. He is also a recipient of the AMComp Legends award, which 

is given for exemplary service in the workers’ compensation industry.

Mr. Briscoe has over 40 years of experience in the national workers’ compensation field, 

including:

• Reviewing individual workers’ compensation claims, calculating individual case 

reserves, and analyzing the legal basis for the award or denial of workers’ 

compensation benefits, including occupational disease (OD) claims, which include 

black lung claims.

• Calculation of funding models/valuations of the payout of workers’ compensation 

claims (including OD claims) with interest discounts.

• Participation in working groups that led to the amendment of workers’ compensation 

statutes, including OD statutes.

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• Preparation of (i) valuations of state and federal black lung liabilities for coal 

companies and their voluntary insurers, including most of the largest U.S. coal 

operators and a large sampling of second- and third-rank coal producers; 

(ii) valuations of the state and federal black lung liabilities of all of the voluntary 

insurers of coal industry risks; and (iii) valuations of the state and federal black lung 

liabilities for all of the state funds writing coal risks and various special funds 

operated by coal mining states.

• Preparation and use of workers’ compensation claims software to hold extensive 

detail of key information on individual claims and to calculate case reserves.

• Provision of consulting advice to clients who provide for their workers’ compensation 

obligations through self-insurance or loss-sensitive first dollar workers’ compensation 

insurance policies, including security held by state self- insurance authorities and 

carriers to insure the payments of benefits obligated for reimbursement up to selfinsured deductible limits (SIR).

• Extensive experience with heavy industry employers including coal and other types 

of mining, steel mills and foundries, trucking, and other high-risk employer 

classifications.

• Service as consultant to National Council on Compensation Insurance (NCCI) 

committees and other rating bureaus charged with rate making for OD coverage.

• Extensive experience as an expert witness in cases involving claim liabilities, claim 

handling, and the operation of loss-sensitive insurance plans, including cases 

involving OD liabilities.

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• Provision of consulting advice and calculation of present value of future benefit 

payments, including advice as to interest discount rates applicable to workers’ 

compensation claims, including OD claims.

• Provision of consulting advice with respect to traumatic injury loss development 

estimates to clients, Milliman and non-Milliman casualty actuaries, and other parties 

with respect to sources of loss development factors, law changes, changes in case 

reserving procedures, application of specific excess reinsurance limits, and actuarial 

methods. Case reserves produced by the LCase software Mr. Briscoe developed have 

often been used as an alternative actuarial method for tail claim liabilities.

Mr. Briscoe’s involvement with traumatic injury liabilities and state and federal black 

lung liabilities dates back to the fall of 1972, when the original Coal Mine Health and Safety Act 

was amended to assign liability to individual coal operators. Soon thereafter, Mr. Briscoe was a 

participant in the development of actuarial methodologies to value black lung liabilities using a 

combination of pension and casualty methodologies. The same methodologies were 

independently developed by two other actuarial firms and have since been accepted by the 

accounting profession as the only acceptable recognition methodology for financial statement 

purposes.

Mr. Briscoe has provided consulting services to working groups tasked with amending 

workers’ compensation statutes in Kentucky, West Virginia, and New York. In Kentucky in the 

mid-1980s and again in the mid-1990s, Mr. Briscoe was a member of working groups that 

produced amendments to the Kentucky workers’ compensation statute that were subsequently 

enacted. The 1980s amendments were largely focused on the statutory provisions that provided

for compensation to coal miners with black lung diseases and the shared funding of such benefits 

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via the Kentucky Second Injury Fund (“Special Fund”). Mr. Briscoe provided the necessary 

background information on the underlying diseases and the financial impact on the Special Fund 

of the then-current statutory provisions. He drafted statutory language later enacted to address 

the issues. Mr. Briscoe also provided statutory language creating a commission to fund the 

Special Fund debt. To date, that language remains largely unchanged. 

In the mid-1990s, Mr. Briscoe was a member of a second Kentucky working group

formed to refine the 1980s black lung provisions and to fundamentally rewrite many key non–

black lung provisions of the state’s workers’ compensation statute. Mr. Briscoe provided 

information as to how the workers’ compensation statutes in other states addressed many of the

issues that were the subjects of those provisions, and provided insight and advice as to how to 

fashion the statutory language to achieve interested parties’ goals. Once again, Mr. Briscoe 

wrote the language amending the black lung compensation provisions, which was later enacted 

essentially unchanged.

In West Virginia, Mr. Briscoe provided extensive consulting services to executive branch 

officials in connection with the shutdown of the old exclusive state fund and the funding plan of 

the old fund claim runoff, for which he created actuarial models of the old fund runoff. Mr. 

Briscoe provided consulting services with respect to the takeover of the old fund claim 

administration and the creation of the new competitive state fund. 

In New York, Mr. Briscoe provided consulting services to the New York Division of the 

Budget and executive branch officials regarding a lengthy proposed law change. He created

actuarial models of the future costs of the legislative proposal and extensive models of various 

funding alternatives of the Section 15-8 fund’s accumulated debt. 

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In the activities in all three states, Mr. Briscoe interacted directly with the governors and 

other senior executive branch officials in place at the time. 

In addition to his general workers’ compensation experience, Mr. Briscoe performed, in 

the normal course, valuations of Patriot Coal Company’s (“Patriot”) state and federal black lung 

liabilities as of December 31, 2013 and December 31, 2014. Mr. Briscoe had been performing 

annual valuations of Patriot’s black lung liabilities for financial statement purposes since Patriot 

was spun off by Peabody Coal and had performed annual valuations of Peabody Coal back to the 

early 1970s, including the mining operations that were eventually spun off and became Patriot. 

Patriot is no longer a Milliman client by virtue of Patriot’s bankruptcy. Peabody Coal is no 

longer a Milliman client. Mr. Briscoe is not aware of any conflicts of interest preventing him 

from undertaking the task at hand.

Over the course of Mr. Briscoe’s consulting activities for both coal companies and other 

self-insured clients, Mr. Briscoe has participated in frequent meetings with senior company 

officials at which his advice is sought with respect to security requirements including how to 

reduce the burden of those requirements and how to monetize obvious workers’ compensation 

surpluses, either on a current or future basis. Since the late 1990s, when letters of credit became 

the more common method of securing workers’ compensation liabilities, such conversations

regarding collateral/security have become the norm. Mr. Briscoe is often tasked with providing 

actuarial models to support ongoing efforts to reduce collateral requirements, to explore alternate 

funding models, and to pursue monetization strategies to the extent that there is excess collateral. 

Attached as Exhibit 1 is a copy of Mr. Briscoe’s current CV.

Attached as Exhibit 2 is a list of all publications that Mr. Briscoe has authored in the 

previous ten (10) years.

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Attached as Exhibit 3 is a list of all cases in which Mr. Briscoe has testified as an expert 

(at trial or by deposition) in the previous four (4) years.

In performing his work, Mr. Briscoe relied on the consulting input of actuaries Steven P. 

Lattanzio and Mr. Briscoe’s Milliman partner, Chris Tait. Messrs. Lattanzio and Tait have 

decades of experience in the workers’ compensation industry. Messrs. Lattanzio and Tait are 

both fellows of the Casualty Actuarial Society and have the credentials to review and opine upon 

the actuarial analyses contained in the Oliver Wyman reports. The resumes of Messrs. Lattanzio 

and Tait are attached as Exhibits 4 and 5, respectively.

Dated: June 4, 2018

Richmond, Virginia

Respectfully submitted,

By: /s/ John H. Maddock III

Dion W. Hayes (VSB No. 34304)

John H. Maddock III (VSB No. 41044)

McGUIREWOODS LLP

Gateway Plaza

800 East Canal Street

Richmond, VA 23219-3916

Telephone: (804) 775-1178

Facsimile: (804) 698-2186

Email: dhayes@mcguirewoods.com

jmaddock@mcguirewoods.com

C. William Phillips (admitted pro hac vice)

Jonathan M. Sperling (admitted pro hac vice)

Micaela R. McMurrough (admitted pro hac 

vice)

COVINGTON & BURLING LLP

The New York Times Building

620 Eighth Avenue

New York, NY 10018

Telephone: (212) 841-1000

Facsimile: (212) 841-1010

Email: cphillips@cov.com

jsperling@cov.com

mmcmurrough@cov.com

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Counsel to Black Diamond Commercial 

Finance, LLC

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Exhibit 1

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Page 1

R. K. Briscoe

PO Box 25251

Christiansted, VI 00824-1251 (570) 234 7429

ROBERT K. BRISCOE

Employment Information

6/2001 – Present Equity Principal1

MILLIMAN USA, INC.

New York, New York

9/97 - 2001 Principal

MILLIMAN USA, INC.

New York, New York

9/88 - 8/97 Senior Consultant

MILLIMAN AND ROBERTSON, INC.

New York, New York

1983 - 9/88 President

ACTUARIAL RISK SERVICES, INC.2

Lincolnshire, Illinois

1976 - 1983 Vice President

J. HUELL BRISCOE & ASSOCIATES, INC. 

Chicago, Illinois

1970 - 1976 Actuarial Assistant

J. HUELL BRISCOE & ASSOCIATES, INC.

Chicago, Illinois

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R. K. Briscoe

Business Experience

EDP Systems

System analysis, design, and EDP management experience, including the system 

design and supervision of programming of major insurance and risk management EDP 

systems for the following:

- Life insurance reserve valuation systems

- Medical insurance policy issue/claim experience reporting system

- Credit insurance reserve and loss ratio reporting system

- Database systems for workers compensation occupational disease claims

- Life annuity workers compensation reserve systems for workers compensation 

 claims for case reserving and claim handling

- Pension valuation systems

- Claim projection systems for long-term, long-latency claims based on current 

 population censuses and applications of actuarial assumptions

- Database/valuation systems for workers compensation claims

Life Insurance

Activities during the early 1970s included supervisory and consulting 

responsibilities for life insurance reserve valuations; plan design and preparation 

of actuarial memoranda for submission to state regulatory officials; preparation 

of convention form annual statements; preparation of federal income tax returns 

for life insurance companies; preparation of life financial statements, both 

statutory and GAAP. Life insurance activities encompassed more than fifty small 

to medium-sized companies.

Medical Insurance

Consulting experience with respect to policy design, premium rating, claims 

administration and design of EDP record keeping system for major writer of 

group health insurance during the mid-1970s. Annual premium volume of the 

program exceeded $40 million.

Casualty Insurance

Work experience from 1974 to present has centered on consulting activities with 

respect to the workers compensation claim liabilities, including the liabilities 

emerging from occupational lung disease claims against the U. S. coal industry. 

Casualty Insurance Rating

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R. K. Briscoe

Preparation of workers compensation premium rate filings for black lung 

coverages for the Coal Mine Compensation Rating Bureau of Pennsylvania; 

service on National Council On Compensation Insurance rating committees for 

black lung rates in Kentucky, Virginia, Illinois and other states; consulting 

activities with respect to black lung premium rating for West Virginia State Fund; 

testimony as expert witness before state insurance authorities with respect to 

workers compensation rates.

Workers Compensation Self-Insurance

Consultant to self-insured coal operators with respect to black lung liability costs 

and liability recognition. Clients include approximately one-third of the U. S. 

coal industry, including the largest U. S. producer and several of the historical top 

ten coal producers of the 1970s. Consulting activities include the development of 

current industry-wide cost and disclosure methods for black lung liabilities.

Workers Compensation Claims Consulting / Reviews

Participant in the claims audit committees of the National Council on 

Compensation Insurance in the 1970s and early 1980s; active consultant in the 

management and defense tactics used to defer large/long-term workers 

compensation claims in various jurisdictions; designed and executed closed claim 

studies of workers compensation claims; participant in claim audits of insured and 

self insured programs; participated as expert in litigation preparation in state and 

federal litigation regarding claim handling practices and case reserving, Principal 

in charge of large scale claim reviews of large scale claim holders such as 

assigned risk pools, second injury funds and excess insurance carriers.

Government Agencies

Consultant to the U. S. Department of Labor regarding black lung cost 

calculations and emerging claim projections; consultant to the West Virginia 

CWP Fund regarding Fund liability and premium rates; consultant to Finance 

Committee of the Kentucky Reinsurance Association; testimony as expert witness 

before U. S. House of Representatives Ways and Means Committee regarding 

black lung legislation. Representation of Kentucky Workers Compensation 

Funding Commission before Kentucky legislative committees.

Workers Compensation Experience

1969 - 1971 Analysis of NCCI rate filing in Louisiana for Louisiana Insurance 

Rating Commission regulatory approval.

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R. K. Briscoe

1972 - 1978 Preparation of rate filings for workers compensation occupational 

diseases for Coal Mine Compensation Rating Bureau of 

Pennsylvania.

1973 - 1988 Participation in the underwriting, rating, and case reserving of 

major workers compensation retrospective rating plans for 

Old Republic Insurance Company.

1973 - Present Preparation of projections of ultimate liability for self-insured 

employers for traumatic workers compensation and 

occupational lung disease claims.

1980 - 1981 Participant in legislative activities culminating in 1981 

amendments to Federal Black Lung Act.

1974 - 1985 Consultant to or representative on NCCI committees, 

subcommittees, and task forces pertaining to policy language, 

premium rating, coverage issues, and reserving of 

occupational lung disease exposures.

1985 - 1987 Consultant to the Kentucky Reinsurance Association, the Kentucky 

Legislative Research Commission and Governor's Task Force 

on Workers Compensation regarding 1987 Special Session to 

amend the Kentucky workers compensation law.

1989 Review of workers compensation loss experience for dispute with respect 

to the allocation of costs between seller and purchaser of 

major self-insured block of workers compensation claims.

1990 - 1991 Claim review of Texas Residual Market Pool claims.

1990 Review of loss reserves for the Louisiana Workers Compensation Second 

Injury Fund.

1990 - 1993 Designed and programmed commercial workers compensation 

computer software for use in creation of comprehensive 

workers compensation claim database.

1991 Preparation of report on the economic impact of proposed regulation 

changes for Coal Mine Health & Safety Act Occupational 

Lung Disease claims. Testimony at Department of Labor 

hearing.

1991 - 1994 Assisted in preparation of Kentucky assigned risk workers 

compensation premium rate filing for coal classifications.

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R. K. Briscoe

1991 - Present Analysis of disputed retrospectively rated workers compensation 

insurance programs (10 as of December, 1996) for 

policyholders, including evaluation of case reserves and 

recasting of case reserves; evaluation of claims handling; 

recalculation of retro premiums based on alternative case 

reserve ranges; calculation of damages; preparation of expert 

reports; assistance to counsel regarding discovery requests 

and depositions of experts.

1992 - 1994 Analysis and cost projection of bills amending the Federal Black 

Lung Act.

1995 - 1996 Preparation of actuarial valuation of Kentucky Special Fund. 

Testimony before Labor & Industry Committee. Assistance 

in formulation of statutory changes enacted to Kentucky 

Workers Compensation Act.

1996 Preparation of valuation of Kentucky Special Fund and funding model 

used in law change effective December, 1996.

1996 Participant in working group drafting 1996 Kentucky Law Change.

1997 / 1999 Preparation of economic analysis of proposed federal black lung 

regulations for National Mining Association; testimony for 

U.S. Department of Labor.

1998 /1999 Claim review and valuation of Texas Residual Market Pool for 

Swiss Reinsurance Co.

Claim review and valuation of Maine Residual Market Pool. 

Preparation of actuarial valuation of projected future asbestos tort 

losses for major acquisition of chemical manufacturing 

facilities in North and South Carolina.

1999 Claim review and valuation of Nevada State fund.

Claim review and valuation of New Jersey Residual Market Automobile 

Pool.

2000 Testimony before Kentucky Senate Labor Committee re Financial Effect of 

Proposed Law Changes.

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R. K. Briscoe

2001 / 2002 Valuation of the Liabilities of the New York 2nd Injury and Reopened 

Claim Funds.

2004 / 2006 Consultant to the Financial Advisor to the West Virginia's Governors 

office re the Privatization of the West Virginia Workers Compensation System including 

extensive work to begin industry standard case reserving system, implementation of plans 

to move claims handling activities to private sector and monitoring funding of Old Fund 

Liabilities. 

2007 – 2009 Consultant to the New York Office of the Budget and the New York 

Insurance Department including calculation of industry standard case reserves for 

Permanent Partial Disability Benefits state-wide using standardized methodologies as a 

base to compare against proposed law changes. Valuation of open 2nd injury fund claims 

(56,000 claims). Valuation of expected effects or 2007 NY WC Reform Legislation 

including presentations to legislative committees and other groups. 

2007 Co Author of article published in Risk And Insurance -"Breaking the Gridlock in 

New York" 

2008 Unpublished article distributed to clients re medical escalation rates applicable to 

workers compensation claims for differing types of medical costs.

2008 Expert witness for an accounting firm accused of failing to note deficient case 

reserves in time to prevent or mitigate insolvency of workers compensation insurer. Jury 

verdict favorable to client obtained.

2008 – Present Work within Milliman and for a client re predictive modeling for 

workers compensation claims.

2009 - Co Author of article published in Risk And Insurance - All you Need to Know 

about Medicare Set- Asides (R&I tile) Actual title “The impact of new Medicare 

legislation on liability claim settlements”. 

2011 Recipient - AMCOMP Legends award for Recipients who exemplify the highest 

standard of practice, commitment and achievement in the field of workers compensation. 

2012 Author - Best Practices case reserves for U.S. workers compensation.

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R. K. Briscoe

2012 Panel Member - Predictive Modeling For Workers Compensation - AMCOMP 

Fall Meeting NY 

2013 Evaluation of case reserves and expert witness on liabilities and future assessment 

plan for major group self insurance fund in receivership/ 

2014 – Present Expert Witness for California Self Insurance Security Fund –

multiple estates

2015 – Present Valuation of OD liabilities for multiple state funds

2016 Evaluation of WC claim settlement opportunities for major NY agency

2017 Valuation of large block of legacy WC claims for reinsurance commutation

Professional Activities - Bibliography Of Papers Written

1980 "Cost Effect Of The 1978 Amendments To The Federal Coal Mine Health 

And Safety Act" presented before the National Council on 

Compensation Insurance Seminar on Occupational Disease 

Liabilities.

July, 1981 Statement before the Oversight Subcommittee Of The House 

Committee On Ways And Means on the Federal Black Lung 

Disability Trust Fund.

1981 "Accounting For Occupational Disease Liabilities" presented before the 

National Coal Association Accounting Committee Annual 

Seminar.

1982 "1981 Amendments To Federal Coal Mine Health And Safety Act" 

presented before the National Coal Association Accounting 

Committee Annual Seminar.

February, 1985 "The Erosion Of Payout Limitations In Permanent Total 

Workers Compensation Claims" presented before mid-year 

meeting of the Workers Compensation and Employers 

Liability Committee, American Bar Association Tort and 

Insurance Practices Section.

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R. K. Briscoe

August, 1985 "Calculation of Loss Reserves for Self-Insurers" presented before 

National Council Of Self-Insurers.

October, 1985 "Liability Of The Kentucky Special Fund" presented before the 

Kentucky Legislative Research Commission Seminar on 

Workers' Compensation Issues.

April - Oct. 1986 "The Interface Of Statutory Provisions Administrative 

Practices, And The Cost Of Workers Compensation Benefits" 

presented before the American Bar Association National 

Institute, Workers' Compensation and Employer Liability 

Committee, Tort and Insurance Practices Section.

1987 "1987 Amendments To Kentucky Workers' Compensation Act" presented 

before the National Coal Association Accounting Committee 

Annual Seminar.

May, 1987 "Kentucky Workers' Compensation Crisis: Progress Toward 

Resolution" published in the Kentucky Journal of Commerce 

and Industry, Volume 28, No. 10.

December, 1987 "H.B.1 - Kentucky Workers' Compensation Reform - 1987 

Special Session".

August, 1988 "The Politics of Workers' Compensation" presented before the 

Workers' Compensation and Employers Liability Committee 

of the Tort and Insurance Practices Section of the American 

Bar Association, Toronto, Canada.

April, 1989 "Coal Industry Workers' Compensation Costs" presented before 

the Coal Auditing Conference.

June, 1990 "Sources Of Disability in Workers' Compensation Claims", June 

1990 meeting of Southern Association of Workers' 

Compensation Administrations.

1990 Casualty Loss Reserve Seminar - "Active Lives Reserving of Workers' 

Compensation Liabilities".

June, 1991 "Workers Compensation Insurance Arrangements In West 

Virginia", co-authored with Robert Finger, Vol. 4, Number 3, 

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R. K. Briscoe

John Burton's Workers Compensation Monitor, May/June, 

1991.

1991 - 1992 Contribution of chapter on self-insurance to "Workers 

Compensation Health Care Cost Containment", LRP 

Publications, Dept. 450, Suite 500, 740 Drescher Road, 

Horsham, PA - Editors Judith Greenwood and Alfred 

Tarrico.

June, 1993 Utility Coal Auditing Conference, Nashville, TN. "Workers 

Compensation and The Coal Industry - 1993 Overview".

June, 1994 Pennsylvania Self Insurers Association, State College, PA. 

"Reserving for Self Insureds".

September, 1994 National Coal Association Financial & Accounting 

Executives Conference, New Orleans, LA. "Federal Black 

Lung Program".

1996 - 1998 Participant in ABA Subcommittee on Torts and Insurance 

Practices Task Force on Second Injury Funds.

1997 - 1999 Author Review of the Economic effects of US Department of 

Labor proposed regulations for the Federal Black Lung 

program.

1998 Interview published with National Underwriter - "Role of Back Injuries 

and Overall Workers Compensation Issues."

1999 Speaker Casualty Actuarial Society - Loss Portfolio transfers of 2nd injury 

funds and state workers compensation funds.

Education

Culver Military Academy, 1960 - 1964

Ripon College, 1964 - 1968; Bachelor of Arts Degree with a major in Biological Science

U. S. Army Medical Service Corps, 1968 - 1970; First Lieutenant

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Exhibit 2

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List of Publications Authored in Previous Ten Years 

(April 2008 - April 2018) 

Bob Briscoe, Christine Fleming, & Steve Taylor, The Impact of New Medicare 

Legislation on Liability Claims Settlements, P&C Perspectives (Apr. 2009).1

Robert Briscoe, Best Practices Case Reserves for U.S. Workers’ Compensation, 

P&C Perspectives (Jul. 2012). 

Robert K. Briscoe, Consideration in Medical Case Reserving for U.S. Workers 

Compensation Pain Claims (2013). 

Robert Briscoe, Best Practices Case Reserves for U.S. Long Term Liability Claims. 

 

1 This article was republished in Risk & Insurance, under the title All You Need to Know about 

Medicare Set-Asides (Apr. 2009). 

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Exhibit 3

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Prior Deposition and Trial Expert Testimony 

(April 2014 - April 2018)

2015 Deposed in California Self Insurers’ Sec. Fund v. Blue Lake Rancheria, 

 et al., Case No. 34-2011-00113628 (Cal. Super. Ct.).

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Exhibit 4

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STEVEN P. LATTANZIO, FCAS, MAAA, FCA 

Education 

Bachelor of Science, Operations Research, New York University, 1974 

Bachelor of Arts, Physics, Adelphi University, 1973 

Professional Affiliations 

Fellow, Casualty Actuarial Society (FCAS) 

Member, American Academy of Actuaries (MAAA) 

Fellow, Conference of Consulting Actuaries (FCA) 

Years of Experience: 40 years 

Employment History 

President and Consulting Actuary 

Actuarial Solutions, Bohemia, New York 

1990 to Present 

Consulting Actuary and Manager 

Presley & Associates; Patchogue, NY 

1988 to 1990 

Senior Vice President and Actuary 

Insurance Technical & Actuarial Consultants (ITAC); West Islip, NY 

1983 to 1988 

Senior Vice President and Actuary 

National Council on Compensation Insurance (NCCI); New York, NY 

1978 to 1983 

Experience 

Steve’s experience includes reviews of reserve adequacy, the projection of ultimate loss 

and loss liability, formal Statements of Actuarial Opinion, the projection of funding 

levels, ratemaking, captive feasibility studies, financial examinations, the development 

of class rates, the production of rate filings and technical items related to workers 

compensation, projects relating to individual risk rating plans (this includes projects 

involving both experience rating plan and the retrospective rating plans). 

In addition, Steve has been recognized by regulators in each state in which he has 

applied to be a loss reserve specialist. Steve has provided expert testimony on numerous 

occasions including bench and jury trials, hearings, arbitrations and mediations.

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Exhibit 5

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1550 Liberty Ridge Drive 

Suite 200 

Wayne, PA 19087-5572 

USA 

Tel +1 610 687-5644 

Fax +1 610 687-4236 

milliman.com 

Christopher Tait, FCAS, MAAA 

Employment Information 

 6/2005 – Present Equity Principal 

 Milliman, Inc. 

 Wayne, PA 

 9/2000 – 6/2005 Principal 

 Milliman & Robertson, Inc. / Milliman USA, Inc. 

 Wayne, PA 

 11/1998 – 9/2000 Consulting Actuary 

 Milliman & Robertson, Inc. 

 Wayne, PA 

 11/1992 – 11/1998 Associate Actuary 

 Milliman & Robertson, Inc. 

 Wayne, PA 

 10/1986 – 11/1992 Actuarial Analyst 

 Milliman & Robertson, Inc. 

 Wayne, PA 

Business Experience 

Loss Reserving 

Chris has more than 30 years of experience performing reserve analyses and developing other 

financial projections related to property and casualty insurance and reinsurance exposures. He 

estimates reserves and funding levels for insurance companies, risk retention groups, selfinsurance programs and captive companies for workers’ compensation, medical professional 

liability, and most major liability coverages. 

Financial Reporting 

Chris has assisted numerous clients with financial reporting issues and the development of pro 

forma financial statements, as well as pricing and rating projects including profitability analyses 

of core products and the development of new products. Beyond standard financial reporting and 

pricing projects, he has also conducted captive formation feasibility studies, assisted clients in 

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preparing for meetings with rating agencies, assisted companies in preparations for insurance 

department reviews, and participated in multidiscipline due diligence reviews. 

Regulatory Support 

Chris has assisted the Pennsylvania and New Hampshire Insurance Departments with financial 

examinations of insurers and reinsurers. These examinations involved the estimation of loss and 

loss expense reserves, financial modeling, and the review of company reserving procedures and 

practices. 

Workers’ Compensation Experience 

Chris has more than 30 years of experience estimating unpaid losses and loss adjustment 

expenses for Workers’ Compensation exposures. Example of his experience include: 

• Project Manager for the work that Milliman performs for the State Workers’ Insurance Fund 

(SWIF) in Pennsylvania. The services provided to SWIF include: estimating reserve 

levels and issuing a Statement of Actuarial Opinion, projecting asset and liability cash flow 

streams, and opining on SWIF's safety distributable surplus, if any. 

• Project Manager for the work that Milliman performed for Pennsylvania’s Workers’ 

Compensation Security Fund. 

• Project Manager for Milliman’s reviews of the 2014 and 2015 DCRB Workers’ 

Compensation Residual Market Rate and Voluntary Market Loss Cost Revisions on behalf 

of the State of Delaware, Department of Insurance. 

Expert Witness Experience 

Chris has testified as an expert witness in both jury trials and arbitrations. Below is a summary 

of his expert witness experience: 

• 2005 Automobile Insurance Benchmarks (2004 Regulatory Hearing in St. John’s, 

Newfoundland) 

• MOJ v. Aspen (2006 Arbitration in New York, NY) 

• Brevard v. Emcare, et al. (2007 Jury Trial in Orlando, FL) 

• IN THE MATTER OF: Delaware Compensation Rating Bureau – Docket No. 2916-2015 

(2015 Written Testimony pertaining to DCRB Filing No. 1502) 

• Pennsylvania Professional Liability Joint Underwriting Association v. Tom Wolf, in his 

official Capacity as Governor of the Commonwealth of Pennsylvania (2018 US District 

Court for the Middle District of PA trial) 

Presentations and Publications 

• Frequent speaker at local and national seminars on loss reserving and ratemaking topics. 

• Wrote an article for the January/February 2010 issue of Contingencies titled “In Search of 

Consistency in Determining RMAD”. 

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• Co-authored an article for the April 2013 issue of Carrier Management titled “Five Myths 

About Predictive Analytics You Can’t Afford to Believe”. 

Affiliations 

• Chairperson of the Casualty Actuarial Society’s International CE/CPD Review Committee 

and former Chairperson of the Professional Education Policy Committee. 

• Member of the Casualty Actuarial Society’s Employer Advisory Council. 

• Past president of Casualty Actuaries of the Mid-Atlantic Region (CAMAR) and a former 

member of its board of directors. 

• Former member of the Casualty Actuarial Society’s Examination and Student Liaison 

Committees. 

Education and Professional Designations 

• BBA, Actuarial Science, Temple University (1987) 

• Member, American Academy of Actuaries (1992) 

• Fellow, Casualty Actuarial Society (1998) 

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Certificate of Service

I hereby certify that on June 4, 2018, I personally served a copy of the foregoing 

Qualifications of Robert K. Briscoe Pursuant to Local Rule 9017-1(B) on William M. 

Sullivan, Jr., counsel to Defendants and Counterclaim-Plaintiffs Virginia Conservation 

Legacy Fund, Inc. and ERP Compliant Fuels LLC, in Richmond, Virginia. I further certify 

that I provided the Court with a copy of the foregoing Qualifications of Robert K. Briscoe 

Pursuant to Local Rule 9017-1(B) on June 4, 2018.

/s/ John H. Maddock III___________

John H. Maddock III

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