| Fundamentals in Calculating Damages in Personal Injury Cases
Program Type: Recorded Webinar(Audio, PPT)
Program Level: Basic
Prerequisites: Previous training or experience with the fundamentals of accounting, finance, economics, and business writing.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hours
Fields of Study: Accounting
Shipping Weight: 0lbs. 0oz.
This two-hour webinar brings together the fundamentals in calculating personal injury damages. The type of damages ranging from non-economic losses, such as pain and suffering to defamation, to economic damages, such as medical expenses and loss of earnings are analyzed. The supporting elements such as classifying the action, determining the element of loss, the limitation of damages, and the tax affect of damages among other supporting considerations will also be discussed.
The webinar will take you from A to Z regarding the fundamentals in calculating damages in personal injury cases such as:
- Classifythe action—plaintiff as injured party or survival or wrongful death statute
- Determine the elements of loss—compensable elements or loss
- Determine the extent of compensable loss—Collateral Sources Rule and Rule of Avoidable consequences
- Damages as remedy—elements of compensatory damages
- Proximate result of injury, breach of legal duty, causation, reliable data
- Economic losses—medical expenses and loss of earnings/profits (special damages)
- Before-and-After Approach, Yardstick Approach (Comparison Approach), But-For Approach (Sales Projection Approach)
- Non-economic losses—physical pain and suffering, emotional anguish, hedonic damages, non-market services (General Damages)
- Golden rule argument, per diem argument
- Limitations of damages—life expectancy and rule of avoidable consequences
- Mitigation of damages—collateral sources rule
- Tax affect of damages
- Wrongful death—survival ations vs. loss to survivors, economic losses and non-economic Losses
- Pre-judgment interest
- Punitive damages
- Damages for loss of consortium
- Defamation—Libel (General Damages), Slander (Special Damages)
- Daubert challenges
After completing this webinar, attendees will be able to:
- Articulate the type of personal injury actions and remedy
- Identify the proximate link to the injury, causation of injury and evidence supporting the damages
- List the methodologies used to calculate compensatory and punitive damages
- Differentiate between economic losses and noneconomic losses
- Define the opinion of value of damages including pre-judgment interest
Who Should Attend
This webinar is intended for expert witness and litigation consultant practitioners that are engaged or wish to pursue engagements to determine personal injury damages
Garth M. Tebay, CPA, CVA, MAFF, CM&AA
Mr. Garth Tebay is the senior managing director of Valuation Services of Headwaters SC, which was formed in 2012 through a merger with Value Defined, LLC, a firm founded by Mr. Tebay in 2005 that was also a Business Growth Alliance (BGA) member. Headwaters SC provides business valuation, share valuation, merger and acquisition due diligence, fairness opinions, forensic accounting, and expert witness testimony related to business valuation and economic damages. He is a nationally recognized expert, industry leader, and educator on the subject of business valuations.
Mr. Tebay and his staff have performed hundreds of valuations since 1980. Mr. Tebay has also been qualified as an expert witness in various municipal, county, state and federal courts, and has given testimony in estate and gift tax cases, divorce cases, lost profits and economic damages cases, shareholder disputes, and federal bankruptcy court proceedings. He is often called upon to consult in various private business valuation matters, and has handled numerous valuation related matters related to merger and acquisition due diligence and transactions. In addition, Mr. Tebay has also served as an arbitrator for the American Arbitration Association.
In 2008, Mr. Tebay founded Tebay & Associates, LLC. Mr. Tebay’s primary focus within the firm is management consulting services, which includes business valuations, litigation support, and mergers and acquisitions. Prior to founding Tebay & Associates, LLC, Mr. Tebay was the Founder and Managing Partner of Tebay Mosley Associates, LLC, a Partner at Brell, Tebay, Holt & Dettinger, Inc., and CFO/Director of Westhaven Services.