Recovering Financial Compensation
It was suspected as early as the 1800s that asbestos was a deadly substance. In the 1920s and 1930s an increasing number of reports began to emerge implicating asbestos as a cause of deadly diseases, including cancer. Yet many manufacturers and distributors of asbestos or asbestos-containing products, and employers in industries where asbestos was used, did not take appropriate precautions to protect people from exposure.
Two Types of Financial Compensation for Asbestos Exposure
In both mesothelioma trial verdicts that find for the Plaintiff and cases that settle before trial, the amount awarded or settled on is based on compensation for two kinds of loss: economic loss and non-economic loss.
Economic loss refers to the financial damages resulting from the illness and death of a mesothelioma victim due to wrongful action. This type of financial loss includes:
Medical expenses – doctor and hospital bills, medications, insurance co-pays and deductibles, medical devices and home health care.
Lost wages – they pay the victim loses beginning when they have to miss work or stop working as a result of their illness, through to their expected retirement. This can also include lost retirement pay and social security.
Loss of household services – these are the services the family or spouse depended on the victim to do before they got sick, and will have to find someone else to take care of. This could include services such as yard care, car or house repairs, cooking, child care and much more.
Other miscellaneous expenses that apply to each individual case.
Calculating Economic Loss
SGPB Law’s mesothelioma attorneys have extensive experience assisting their clients to calculate the economic losses they and their family sustain due to wrongful action. Often, clients are unaware of all the factors that contribute to an accurate calculation and underestimate.
Non-economic loss refers to physical and emotional pain the victim suffers as well as to the emotional damage the family suffers when watching a loved one become sick and pass away. Some examples of non-economic loss include:
•Pain and suffering
•Loss of Consortium
•Loss of love, society and companionship
Hold Corporate Wrongdoers Responsible
SGPB’s mesothelioma attorneys have a solid track record of helping clients win millions of dollars in both economic and non-economic damage awards making corporations responsible for the pain and suffering they’ve caused. (Outcomes depend on the details of each case.)
Are you ready to hold those who’ve negligently exposed you or a family member to asbestos responsible? Contact us today for a free consultation.