Mesothelioma Case Value

Other Factors That Affects Case Value

Each mesothelioma diagnosis is unique and so is each case. There are many variables taken into account with each case to determine how much compensation the plaintiff deserves. Factors commonly evaluated in each case are:

The overall impact on the mesothelioma patient and their family is the main point of concern in each case. The negative impact faced by the family sums up many of the individual elements that affect case value. But negligence on the part of the defendant is also considered. A greater value is typically assigned to cases with a higher overall negative impact.

Settlements and Verdicts

Every mesothelioma case requires an attorney to determine how to file the case. Attorneys can assess the plaintiff’s asbestos exposure history and decide where to go for compensation.

There are two ways a plaintiff can recover compensation in a lawsuit—through a settlement or a verdict decided by a jury. Case values vary depending on whether the case is settled or goes to verdict.

• Settlements – These cases are safer and more consistent in case value and are handled out of court.
• Verdicts – These are high-risk, high-reward cases. It usually takes special circumstances to lead to a verdict in court.

The majority of cases are settled out of court because attorneys want to make sure their client receives compensation. Since they are settled in a private setting, settlement amounts aren’t typically known.

The actual values of verdicts are somewhat unpredictable because they are set by a jury. Some plaintiffs have won tens of millions of dollars, while others were awarded more modest amounts. Each verdict depends on the evidence at hand as well as other factors in the mesothelioma diagnosis. Luckily, verdicts are public, so these values are easier to find.

Asbestos Trust Funds and the Case Valuation Matrix

If the asbestos company has filed bankruptcy, the plaintiff’s attorney must pursue compensation from a special trust fund set up by that company. Many asbestos companies have declared bankruptcy over the past few decades. As part of their agreement to reorganize their companies, they were forced to set up trust funds for any potential mesothelioma cases filed against them.

These trust funds typically use what is known as a “case valuation matrix” to determine the value of each case. The case valuation matrix assigns a minimum value to each mesothelioma case and then adjusts it for factors such as marital status, extent of exposure, etc.

Two of the many trusts that have used the case valuation matrix are Western Asbestos Company and J.T. Thorpe, Inc. On top of the base value paid out by the trusts, the case value is adjusted according to the extent of asbestos exposure; higher asbestos exposure corresponds with a higher case value. Employees with high exposure are those exposed to larger amounts of asbestos for longer amounts of time than the average employee.

These trusts also have adjustments for economic loss and medical expenses. In both instances, these trusts compensate for expenses over $200,000 and up to $2 million.

For example, medical expenses at $350,000 would result in an additional $150,000 added to the base value paid out because the trusts don’t compensate for the first $200,000. Conversely, if the expenses run over $2 million, the maximum compensation for medical expenses is $1.8 million.

The adjustments for total economic loss and medical expenses are calculated separately, so a person seeking compensation from a trust can receive compensation for both.

Find Out Your Case Value

An experienced attorney can give an individualized estimate of how much your case is worth. Additionally, all good mesothelioma attorneys work on a contingency fee basis, which means patients and families can get an estimate of their case value for free.

Some reasons mesothelioma patients and families decide to pursue a case include:

• Compensation for medical expenses
• Recovering costs from loss of work
• Pursuing justice for a loved one

Our patient advocates at Mesothelioma Guide can put you in touch with an attorney who is best for your case today. Get connected with an attorney using our free legal support.