Mar 21

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Lost Compensation Settlement Tool Allows You to Assess Economic Damages Accurately and Efficiently

technology computerLost compensation is a method of capturing economic damages in personal injury, medical malpractice, wrongful termination, failure to promote and other similar torts.  Independent damages experts are often employed to calculate lost compensation because of their unique background/skill set.  However, the desire to minimize costs means that these experts are often employed after settlement efforts failed.  This presents a difficult situation for counsel who are negotiating settlement without the benefit of the expert’s opinion regarding damages.

An interactive settlement tool, developed by independent damages experts, may provide counsel with the information necessary to provide meaningful advice to the client about appropriate damage amounts.  This knowledge may also assist with settlement discussions  by demonstrating that amounts requested/offered are based on application of defined inputs, properly applied.  The interactive settment tool calculates lost compensation based on Plaintiff specific inputs regarding dates, demographics and earnings, combined with government statistics, economic studies, and market conditions.  Read more here.

About the author

Nicole Liska

I am a Principal at Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I hold an ABD and MA in economics from the University of California, San Diego. I perform damages analyses and serve as a damages expert witness. My resume is on Fulcrum's website.

Permanent link to this article: http://betweenthenumbers.net/2013/03/lost-compensation-settlement-tool-allows-you-to-assess-economic-damages-accurately-and-efficiently/

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