Economic Damages.

FORENSIC ECONOMICS

 

PERSONAL INJURY AND WRONGFUL DEATH

As forensic economists we are frequently retained as testifying experts in personal injury and wrongful death disputes.  We have extensive experience in determining economic damages from loss of earnings capacity and evaluating non-labor market losses. 

We have decades of experience in preparing and reviewing claims across a broad range of industries and labor markets.  Our work is typically focused on preparing claims of economic losses or assessing the calculations and opinions of other experts.  We are experienced in providing clear and instructive reports and expert testimony to assist in the resolution of disputes.  Our focus is to provide definitive and authoritative assessments of the economic losses at issue.  

VALUATION OF FUTURE MEDICAL EXPENSES AND LIFE CARE PLANS

The cost of future health care can be a significant  component of economic damages in catastrophic personal injury and medical malpractice cases.  We provide objective valuations of future medical expenses and life care plans discounted to present value in consideration of inflation specific to medical expenditure categories. 

 

 
PRIMARY CONTACTS

 

A. Charles Tormo, CPA, ABV, CFE
Laurance L. Prescott, PhD
 
EXPERTISE

 

  • Loss of earnings capacity

  • Valuation of employer retirement, pension and fringe benefits

  • Loss of household services and non-labor market losses

  • Valuation of life care plans and future medical expenses – present value

  • Worklife expectancy and period of loss

  • Earnings of self-employed and lost profits

  • Cases involving incentive-based and executive compensation

  • Cases involving children

  • Cases involving older workers

  • Cases involving foreign alien workers

  • Personal consumption

  • Income taxes

  • Interest rates and present value

  • Product liability – class action and multi-district litigation – MDL

  • Jones Act damages

  • Punitive damages

 
REPRESENTATIVE EXPERIENCE

 

Economic damage claims in medical malpractice, personal injury and wrongful death disputes have been an area of specialty for over 20 years. 

Example plaintiff/defendant cases:

Pecuniary Damages / Wrongful Death – Determination of loss of earnings capacity of homemaker without established work history.  Loss of household services.

Pecuniary Damages / Personal Injury – Determination of loss of earnings capacity of self-employed executive with multiple business ownership interests.  

Pecuniary Damages / MDL / Product Liability – Damages in multi-district litigation involving personal injuries from defective hip implants. Work included a comprehensive review of individual earning capacities, non-labor market losses and valuation of future medical costs based on individual life care plans. 

Punitive Damages / Liability – Financial analysis in connection with punitive damages assessed to manufacturer of allegedly defective medical devices.

Valuation Life Care Plan / Medical Malpractice – Valuation of future medical expenses in catastrophic personal injury of minor at birth.   

 

INDUSTRIES

 

We have experience in preparing and reviewing claims across a broad range of industries and labor markets.

 

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