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Difference between revisions of "ICBC and Personal Injury Claims (12:XII)"
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ICBC and Personal Injury Claims (12:XII) (view source)
Revision as of 19:53, 16 August 2019
, 19:53, 16 August 2019→b) Loss of Prospective Earnings
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==== b) Loss of Prospective Earnings ==== | ==== b) Loss of Prospective Earnings ==== | ||
Loss of prospective earnings is the capitalized value of the claimant’s loss of income from the time of the accident to the claimant’s projected date of retirement. The capitalization rate will be calculated by using present rates of return on long-term investments, and an allowance will be made for the effects of future inflation. In determining the value of prospective earnings, the claimant’s earning capacity over his or her working life, prior to the accident, will be evaluated. In a claim for the capitalized value of lost prospective earnings, the defendant will seek to reduce that amount by introducing evidence of future contingencies | Loss of prospective earnings is the capitalized value of the claimant’s loss of income from the time of the accident to the claimant’s projected date of retirement. The capitalization rate will be calculated by using present rates of return on long-term investments, and an allowance will be made for the effects of future inflation. In determining the value of prospective earnings, the claimant’s earning capacity over his or her working life, prior to the accident, will be evaluated. In a claim for the capitalized value of lost prospective earnings, the defendant will seek to reduce that amount by introducing evidence of future contingencies. | ||
==== c) Cost of Future Care ==== | ==== c) Cost of Future Care ==== | ||
