Medical Malpractice and General Liability Verdicts and Settlements
New York Article 50 Calculators
The Award and Value calculators are designed to provide plaintiffs' attorneys with tools to quickly evaluate future damage Awards that are to be discounted. They can be used to assist in negotiating early settlement by calculating the impact of changes in variables on the overall value of an Award. This can assist in gaining informed consent and Court approval where such is required. Unlike standard valuation techniques, the calculators are online and immediately responsive. The calculators are case controlled, there are no costs to the attorney, but they require provision of standard case information to gain a case key (a summary data file). Plaintiffs� attorney can save the Award data to file, retrieve that file and change components and variables, as necessary. The calculators follow the statutory instructions, and operate with both summary and detailed element data. Detailed data is accumulated by loss category and a weighted average future payment period is calculated to finish the data entry. On closing the detail section, summary information is transferred to the three categories of Pain and Suffering, Medical Expenses and Economic Loss. As ActiveX Add-ons, access is governed by rules imposed by the ActiveX source.
New York 50 Calculator Case File Requirements
NEW YORK STATE 50A Medical/Dental Malpractice Award
There are two versions of Article 50A, and two versions of 50A calculators. Amended 50A Applies to all cases filed after July 25, 2003. Original 50A applies to cases filed before that date. There are also two access methods for each.
New York 50A Calculator Writeup Direct Access to Amended New York 50A Calculator Direct Access to Amended New York 50A Calculator 1 Direct Access to Original New York 50A Calculator Direct Access to Original New York 50A Calculator 1 NEW YORK STATE 50B General Liability Award
There is one version of Article 50B, and one version of 50B calculators. There are also two access methods for the 50B Calculator. New York 50B Calculator Writeup Direct Access to New York 50B Calculator Direct Access to New York 50B Calculator 1 New York Article 50 Extended Award
New York 50A Medical/Dental Malpractice Award - We construct and value Awards in accordance with the provisions of CPLR 50A (Original or Amended), related statutes and case decisions.
We provide a full Award workup, including complex, extensive calculations of Lost or impaired Earnings and related taxes, as the situation warrants. We provide a full Valuation, including a summary of loss elements, adjustments and offsets, detailed schedules of future payments and values for each Award element, and a detailed reconciliation of a total Award to Net Valuation, together with a cash payments summary. We incorporate Collateral Source offsets, the adjustments as referenced in case decisions, and those that may be inferred from the application of the statute. We provide online access to the reports, together with a facility for adjusting certain key variables, such as discount rates, time of first payments, taxes and Collateral Source offsets. We also provide a facility for calculating, detailing and applying average 10-year Treasury rates/yields. We apply interest to the Award in line with the statutes and case decisions, and on amounts discounted in line with case decisions. We provide a facility for transmitting settlement offers in either written form or as data files. New York 50B General Liability Award - We construct and value Awards in accordance with the provisions of CPLR 50B, related statutes and case decisions.
We provide a full Award workup, including complex, extensive calculations of Lost or impaired Earnings. We provide a full Valuation, including a summary of loss elements, adjustments and offsets, detailed schedules of future payments and values for each Award element, and a detailed reconciliation of a total Award to Net Valuation, together with a cash payments summary. We incorporate Collateral Source offsets, the adjustments as referenced in case decisions, and those that may be inferred from the application of the statute. We provide online access the reports, together with a facility for adjusting certain key variables, such as discount rates, time of first payments, adjusted application of expense and fee rates, and adjustment to Collateral Source offsets. We also provide a facility for calculating, detailing and applying average 10-year Treasury rates/yields. We apply interest to the Award in line with the statutes and case decisions, and on amounts discounted in line with case decisions. We provide a facility for transmitting settlement offers in either written form or as data files. EXTENSIVE 50A and 50B VALUATION NEEDS - We provide access to our full Award and Valuation systems on either a cases by case or dedicated basis. As to the latter we will provide an extensive user with a dedicated page and programs with separate access security, if desired. Generic Award Valuation Calculator
If the Award valuation process incorporates any discounting of future Award elements, this calculator will provide most variables in the process, and will allow for their incorporation. The user can select Award variables/limits and value the future elements employing different discount rates and altering other variables. INCIDENTAL STRUCTURED SETTLEMENT EVALUATION TOOLS
These tools were developed to assist in the process of evaluating Likely or offered structured settlements by providing a cost for individual future lump sum and/or periodic payment elements. Buyout offers by providing a buyer's IRR for individual future lump sum and/or periodic payment elements, or an array of elements. Internal Rate of Return for individual future lump sum and/or periodic payment elements, or an array of elements. Copyright � 1998-2011 The Burbank Group Last modified: March 10, 2016
Contact Information
Structured Settlements:burbss@burbankgroup.com