by John Darer® CLU ChFC MSSC RSP CLTC
A structured settlement expert with CPLR 50B expertise can be a valuable asset at New York mediations involving auto accident, labor law, product liability and other personal injury cases with significant future damages in play.
Debating the virtues of sustainable verdicts is like running the ball to the 1 yard line. You're not really there. Of course knowing what is sustainable is important, but only in so far as the components of damages. Together with the strength of the plaintiff or defendant's case, what is important, among other factors, is what it will actually cost the Defendant or Insurer and that is something that a structured settlement expert with an expertise in New York CPLR 50B can provide. A structured settlement expert who is skilled and effective in this area should understand the case law, be able to run hypotheticals on the fly and be able to quickly adapt to changing scenarios. It is not just the matter of running an annuity quote.
Plaintiff lawyers who can prove their damages have an advantage due to the inversion of growth and discount rates that have existed over the last few years that serve to make the present value of the verdict higher than the actual verdict. The present value is the basis on which a 9% interest rate is charged for prejudgment interest for the majority of these types of cases. Claims adjusters and defense lawyers who fail to analyze the exposure and/or fail to hire this expertise while valuing their cases could be significantly undervaluing their cases in the current environment.
So if you have a mediation scheduled at JAMS, Resolute Systems, or NAM or other centers of alternate dispute resolution contact a New York CPLR 50B structured judgment expert.
For more information please contact structured settlement/ structured judgment expert John Darer at 888-325-8640