THE BURBANK GROUP

THE BURBANK GROUP

New York50A      Home     New York50B 

Service and Support

New York 50A and 50B Cases.

There are a large number of sources who can provide advice on the current and future costs of providing care for a plaintiff, and for determining the current and future costs associated with items of economic loss. There are also a significant number of structured settlement providers who can advise the parties on how " �to offer and to guarantee the purchase and payment of an annuity contract to make annual payments in equal monthly installments of the remaining streams of payments�". All that remains is the valuation, extension and allocation of Awards.

We have developed systems to perform the valuation, extensions and allocation of Awards, and to produce some or all of the following reports,

  • An Award Development worksheet that accumulates the elements of loss.
  • A Verdict worksheet together with supporting periodic and discrete detail.
  • A Valuation Summary on which the net discounted value is calculated following the steps set out in the statute.
  • Future Payment Schedules including monthly and annual payments by element, with the latter totaled, and discounted annual payments by element, also totaled.
  • Negotiation Worksheet (Reconciliation) includes all adjustments to Awards and Valuations by element.
  • Average Auction Rates and Yields displays averages for all quarters since enactment of Amended 50A, two years and one year, together with weighting.
  • Interim Payment Worksheet details the post-verdict periodic payments to be made in cash, adjustments to Net Awards and discounted values.
  • Judgment Worksheets setting out the components to be recorded in a Judgment.

We offer our services in three ways,

Full Award and Valuation Development.

We provide full Award development, valuation and adjustment services. We perform data entry for elements, offsets and adjustments, and make the allocation of the Award between past and future damages. The valuation proceeds in line with the provisions of the statute. We calculate interim periodic payments, adjustments to element Net discounted Values, and calculate any interest and second level discounting.

We provide advice on the application of the statutes and case decisions, and how they are dealt with in the systems, and are prepared to provide any documentation of methodology that may be required.

Our standard charge is $750 per case, and most cases can be resolved within that cost. In the event that the client looks to test different valuation scenarios or variable alternatives without incurring substantial support costs, we will supply a case data file and system access for an one-time charge of $250.

Licensing of Award and Valuation Systems.

For large volume users, we will license systems use and provide support for an extended period. Access will be online and controlled by case identifiers.

In the event that the licensee wishes to have full control of access and data, we are prepared to license our programs on a devoted basis by providing direct access and control of the systems. This would require a substantial commitment and non-refundable deposits to ensure that there is protection from unauthorized proliferation. For the continuing payment of the fees, we will provide

  • Either 50A or 50B program packages to be applied to lap top computers or servers as the user prefers.
  • Files containing Id's, passwords and signing numbers that can be assigned to particular cases and individual users through a program additio.
  • A negotiated amount of continuing support.

In either case, we are prepared to provide training and materials for users, at a negotiated cost based on the number of participants.

Case Licensing of Award and Valuation Systems.

For users with limited use, we are prepared to license online access on a case by case basis. The basic fee is $750 per case. For that payment, we will provide

  • Access to either our New York 50A or New York 50B online Suites.
  • Files containing case Id's, passwords, and case and user information. [As use of automated offers is restricted to plaintiffs and defendants, signing numbers are assigned on that basis.]
  • Continuing support is charged at our standard hourly rate of $500.

We offer a limited number of advertisement spaces on our site. The monthly advertising fee is negotiable and the content of the advertising or any change must have our prior approval.

Pimarily, we provide access or services to attorneys and insurers, and require case and user identification before undertaking any licensing or service.

A. To gain Id and password, provide the case information as follows,

1.) Case Information

a.) Type (MedMal, MedMal Wrongful Death, Gen. Liab., Gen. Liab. Wrongful Death): ________________________

b.) Case Caption: ________________________________________________

c.) County of Filing: ______________________________________________

d.) Docket: _____________________________________________________

e.) Plaintiff: _____________________________________________________

f.) DOB: __________ Sex: _________ Life Expectancy: ________________

B. For full service, please provide Award information.


 

 

Contact Information

Telephone
(908) 955-4661
Postal address
P.O. Box 462, Chester, NJ 07930
Electronic mail
General Information: Company Email:burbss@burbankgroup.com
Structured Settlements:burbss@burbankgroup.com 
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Last modified: August 6, 2009