The foregoing limitation of liability shall not apply to the extent that any liability arises from the gross negligence or willful misconduct of the Investment Consultant, its employees, affiliates, agents or contractors or from bodily injury, death of any person, or damage to any real or tangible personal property.

FORBES: Actuarial Limitations of Liability? (LOL) Laugh Out Loud! (December 1, 2002 )

While funds, such as LACERA in its current contract with Milliman, apparently are agreeing to limitations of liability, the limitation amounts are well in excess of the annual actuarial fee.

FORBES: Actuarial Limitations of Liability? (LOL) Laugh Out Loud! (December 1, 2002 )

Ask yourself: What trustee would want to be in the position of having agreed to a limitation of liability once a major financial loss attributable to the consultant has been discovered?

FORBES: A ''Tipping Point'' for Public Pensions?

Patients have not because medical care is too critical to risk any reduction in the quality of care a limitation of liability might foster.

FORBES: Actuarial Limitations of Liability? (LOL) Laugh Out Loud! (December 1, 2002 )