How Much Money Can You Get From a Mesothelioma Settlement?
The possibility of a mesothelioma diagnosis creates an array of emotional, health and financial issues for both the patient and his/her family. As this type of cancer is closely connected with asbestos, those diagnosed with the disease have the right to seek compensation from companies manufacturing, distributing and using asbestos-containing materials.
Many people are interested in the following question: What is the amount of a mesothelioma settlement?
Of course, the answer cannot be provided in numbers, as every case is unique. Currently, estimates put the average value of mesothelioma settlements at approximately $1 million to $1.4 million, but the amount varies greatly depending on each individual case, so a patient might receive both lower and higher settlements.
The exact value of each claim depends on many things such as strength of the evidence, patient's condition, time of asbestos exposure, amount of medical bills, lost wages, number of companies involved and laws of the state.
Unlike a verdict, which is a decision made by a judge or jury during the trial, a settlement implies a mutual agreement between the sides and provides compensation in exchange for giving up one's claim. Thus, although a trial gives you a chance to get a larger reward, it carries more risks and uncertainty.
Another aspect of mesothelioma lawsuits is an asbestos bankruptcy trust fund, set up by companies declared bankrupt because of asbestos liabilities. According to available information, over 60 asbestos trusts exist at present, providing billions of dollars for compensation of eligible victims.
Knowing what affects settlement value will allow patients to make well-informed decisions about their legal rights
What Factors Determine Mesothelioma Settlement Amounts?
There are several aspects that might determine what a mesothelioma claim might be worth. The cases vary, and therefore, the amount won by one victim should not necessarily be regarded as the sum that can be claimed by another victim.
- Degree of the Disease
The kind of the disease and the way it has progressed can play a significant role in determining compensation. Advanced cancer will lead to large medical bills, loss of earnings due to the inability to work, and physical suffering.
- Treatment Expenses
Compensation can take into account the expenses that a person had for the treatment of his/her condition. Expenses can include hospital stays, surgical operations, chemotherapeutic treatments, radiotherapy, medicines, and others depending on the situation.
- Income Loss and Earning Capacity
Mesothelioma can leave a person unable to work as he/she used to. Thus, a claim can cover lost earnings because of the illness and, depending on the law of the state, loss of future earning capacity.
It will be especially hard for a family if a victim of mesothelioma was the main breadwinner.
- Pain and Suffering
Pain and suffering can also play a role in some mesothelioma cases. Rules about damages in this category vary from state to state.
- Proving Asbestos Exposure
Proving a connection between the victim's disease and specific asbestos containing material, workplace, producer or supplier can help to make a claim more convincing.
National Cancer Institute notes that asbestos exposure increases the probability of developing mesothelioma and that it can occur at workplace, in homes and other places.
Evidence of the past exposure to asbestos can include employment history, military service, information about the product or company, co-workers' testimonies, medical history, and the memories of family members.
Ultimately, the clearer the exposure, the disease, the damages suffered, and legal liability can be proved, the stronger the position for negotiations will be
Average Mesothelioma Settlement Amounts
When people do research on mesothelioma payouts, they usually get very different figures. It is due to the fact that the statistics on settlements can take into account various aspects: the type of claims, defendants, jurisdiction and source of compensation.
The latest published estimate on the average value of mesothelioma settlement in a lawsuit is $1 million to $1.4 million. It should be noted that average figure is just an average and does not mean anything about your chances of getting a certain sum of money from your defendant.
While some claims might get resolved for hundreds of thousands, other claims (with stronger evidence) might get settled for several million dollars.
Mesothelioma Lawsuit Settlements
In general, a settlement in a lawsuit means that both sides agree to negotiate the resolution without conducting a full trial. The sum offered may depend on various factors, including the liability of a defendant, insurance or financial resources, proof of exposure, evidence of damage and risk assessment.
Asbestos Trust Fund Compensation
In comparison to a lawsuit, asbestos trust fund claims involve a special procedure, which starts when an asbestos company declares bankruptcy and establishes asbestos trust fund for compensation of current and future claimants.
The compensation amount received from an asbestos trust is usually much smaller than lawsuit settlement from a solvent company. It is known that individual compensation from the trust can range from several thousands to much higher figures depending on specific trust and claim.
For example, trust funds sometimes use a schedule that sets a value for a certain disease level and then offer payment percent from this schedule depending on the rules of the trust.
As a result, it can be difficult to calculate the total possible compensation because a person can have claims against multiple defendants and asbestos companies/trusts
What Damages Are Recoverable in a Mesothelioma Settlement?
Depending on the jurisdiction, laws, and the specifics of the case, a mesothelioma settlement can include compensations for the following types of damages.
Medical Expenses
Medical expenses tend to be high in these cases. A settlement claim could be made to cover the cost of qualified treatment incurred as a result of the disease.
Lost Earnings
Once diagnosed with the disease, it may become impossible for a patient to continue working. A claim could potentially recover qualified past and future lost earnings of the injured party.
Reduced Earning Capacity
Mesothelioma can leave a patient unable to return to his or her previous job. A reduced capacity to earn money may be recovered in some jurisdictions.
Non-Economic Damages
Physical suffering, pain, psychological trauma, inability to enjoy life, and other non-economic losses are often considered. Whether the recovery is possible and how it is calculated depends on state laws and the facts of the case.
Cost of Caregiving and Other Losses
In addition to medical bills, a patient may incur certain additional costs as a result of hiring help in his or her daily routine. In some cases, a portion of these expenses could be claimed by the victims.
Wrongful Death Recovery
In case if a person died as a result of the disease, the surviving family members could make a wrongful death claim and receive certain damages. It usually includes compensation for funeral costs, loss of future support, and other harm done to the relatives.
Other Forms of Compensation
Apart from filing a lawsuit to get a mesothelioma settlement, there are also other compensation sources such patients and their families can use. For instance, it is often possible to receive benefits from asbestos trust funds or even workers' compensation programs, depending on particular circumstances.
As the rules of compensation vary greatly, people should not make assumptions about what amount would be appropriate based on an internet search.
A lawyer can determine possible legal remedies and the total sum of compensations for which the patient is entitled to by considering the details of the case
How to Figure Out the Value of Your Mesothelioma Case
The determination of the value of a mesothelioma claim is not simply a matter of finding the average value of such settlements. It will generally require that a lawyer review the overall facts of the case.
First of all, there would be the documentation of the disease itself, including the diagnosis and treatment that have to be confirmed by the medical records.
It is necessary to gather the information on the history of asbestos exposure by this person. It might include the previous jobs, workplaces, military career, used products, places of exposure, as well as statements from colleagues and relatives.
Next comes the identification of the potential defendants in the case, which means finding out the products and companies which were responsible for the asbestos exposure, since there could have been several different products and companies involved in the exposure over the years.
The value of a claim may also be affected by the age, employment and income history of the patient, the cost of medical expenses, prognosis of his disease, and its effect on his relatives.
Importance of Legal Deadlines
Mesothelioma claims are subject to the statutes of limitations and other legal deadlines, which vary by state and are determined by such facts as the time of diagnosis or death of a person in a wrongful death claim.
It may prevent someone from bringing an otherwise valid claim. So, the sooner the family investigates its options, the better.
Choosing Between a Settlement and a Trial
Settlement can be preferable in providing more certainty since the two sides agree on a certain amount. In turn, a trial creates an opportunity of winning a higher jury award, but there is also the risk of getting nothing in return.
Whether the claimant should settle or go to trial should be decided based on the facts of his case, not simply on trying to get the highest number possible.
In case you or your family member have been diagnosed with mesothelioma, you should consult with an attorney who specializes in asbestos litigation. The lawyer will be able to explain to you the potential sources of compensation, legal deadlines, necessary evidence, and risks.
The most important thing, *no website is able to accurately predict what your mesothelioma case is worth
Editorial & Jurisprudential Disclaimer: This publication is prepared strictly for educational, academic, and legal research purposes and does not constitute formal legal counsel. For specific legal representation or jurisdiction-specific advice, consult a licensed attorney admitted to practice before the competent bar.
