Personal Injury & Wrongful Death Economic Damage Calculation

Forensic Accountants Compute Damages in Personal Injury and Wrongful Death Actions

In severe personal injury and wrongful death cases, financial compensation is a central focus. A plaintiff attorney’s success depends on securing a damage award that reflects the true economic impact of the injury. On the defense side, once liability is established, the attorney’s job is to protect the client from an excessive damage award. But how do both sides determine what is fair?

At Roberts Mangum and Bennett Consulting, we provide expert litigation support to both plaintiff and defense attorneys. Our team conducts precise calculations of present and future economic losses, adjusting for a variety of factors that may affect the outcomes. When you engage Roberts Mangum and Bennett for your litigation needs, you receive clear, comprehensible reports designed to stand up to scrutiny. Our work supports you in negotiating fair, timely settlements, and if your case proceeds to trial, our experts are available to offer compelling testimony on the financial aspects of the case.

At first glance, economic damages in personal injury cases may seem straightforward, particularly when considering losses already incurred, such as:

• Property damage
   
• Medical bills
   
• Lost earnings from missed work
   

For these immediate losses, the calculation is relatively simple, as the plaintiff can provide receipts and documentation. However, where economic losses become complex is in estimating future losses. A plaintiff may need ongoing medical or personal care for years, if not a lifetime, due to the accident. Additionally, future earnings may be lost if the plaintiff is disabled and unable to return to work.

Future losses require careful adjustment based on numerous factors to provide a reasonable and just estimate.
 

Wrongful death cases often involve similar calculations. Family members may be entitled to compensation for financial support the deceased would have provided to dependents, as well as the market value of services the decedent contributed to the household. These must also be projected over the course of a normal lifetime.

While we don’t attempt to estimate pain and suffering awards directly, our calculations of economic losses can influence these negotiations. Many insurance companies use a multiplier model for determining pain and suffering, such as:

• Minor injury — One or two times the amount of economic losses
   
• Moderate injury — Three or four times the amount of economic losses
   
• Severe injury — Five times or more the amount of economic losses
   

Pain and suffering awards can constitute a significant portion of the total settlement or judgment, so it is critical to have accurate, well-supported numbers for the economic losses involved.

Contact Roberts Mangum and Bennett  Consulting at (769) 247-4400 or (901) 500-3272 for expert damage calculations in personal injury and wrongful death litigation.