In a decision earlier this year, a New York appellate court affirmed prior decisions holding that actuaries are not "professionals" like lawyers, doctors and accountants:
Because an actuary is not required to be licensed, is not regulated, and is not subject to a State-created disciplinary system, an actuary is not a "professional" for purposes of a malpractice cause of action.
Health Acquisition Corp. v. Program Risk Mgmt., Inc., 2013 NY Slip Op 2714 (N.Y. App. Div., 2013). Despite this ruling, the court held that the case could still proceed against the defendant actuarial firm under ordinary principles of negligence.
The main area where this ruling has impact is an actual benefit to actuaries. That area is the statute of limitations. In New York, the statute of limitations is extended during the continuing relationship which a professional has with his or her client. But actuaries, because they are not "professionals" within the definition of New York law, do not have to deal with an extended statute of limitations.
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