Minnesota Lawyers Mutual Insurance Company and Subsidiaries - Page 28

            the bounds of the selected group’s range but concluded that                                
            petitioner's ratio fell within the middle 50 percent of the peer                           
            group’s range.                                                                             
                  B.  James P. Streff                                                                  
                  Respondent’s expert, James P. Streff (Streff), is an                                 
            independent consulting actuary.  He is president of Streff                                 
            Insurance Services, an actuarial consulting firm in Red Wing,                              
            Minnesota.  He has a bachelor's degree in mathematics from the                             
            College of St. Thomas and a master’s degree in statistics from                             
            the University of Minnesota.  He is a fellow in the Casualty                               
            Actuarial Society and a member of the American Academy of                                  
            Actuaries.  He has worked as an actuary in the insurance                                   
            industry since 1970.  He is the appointed actuary for a number                             
            of companies and is under contract to provide actuarial                                    
            assistance to the State of Michigan's Department of Insurance.                             
                  In preparing his expert report, Streff relied on four                                
            primary sources:  Petitioner's annual statements dating back to                            
            1982; certain internal data requested from petitioner; industry                            
            statistics obtained from Best publications; and the reports                                
            prepared by petitioner's appointed actuaries for years 1993                                
            through 1995.                                                                              
                  Streff performed an actuarial analysis.  He acknowledged                             
            that petitioner’s low claim volume reduced its statistical                                 
            credibility.  Streff reviewed other aspects of petitioner’s                                

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