Sunday, December 16, 2018

Economic Damages Experts

Damages are defined as monetary compensation that is awarded by a court in a civil action to an individual who has been injured through the wrongful conduct of another party.

Damages attempt to measure in financial terms the extent of harm a plaintiff has suffered because of a defendant\'s actions. Damages are distinguishable from costs, which are the expenses incurred as a result of bringing a lawsuit and which the court may order the losing party to pay. Damages also differ from the verdict, which is the final decision issued by a jury.

The law recognizes three major categories of damages: 1) Compensatory or Economic Damages, which are intended to restore what a plaintiff has lost as a result of a defendant\'s wrongful conduct; 2) nominal damages, which consist of a small sum awarded to a plaintiff who has suffered no substantial loss or injury but has nevertheless experienced an invasion of rights; and 3) punitive damages, which are awarded not to compensate a plaintiff for injury suffered but to penalize a defendant for particularly egregious, wrongful conduct. In specific situations, two other forms of damages may be awarded: treble and liquidated.

Valuation Economist Experts are concerned with Compensatory or Economic damages.  They are generally involved in the calculation of compensation necessary to restore what a plaintiff has lost or expense a plaintiff will incur as a result of a defendant\'s wrongful conduct.  Calculating the cost of items such as lost wages, cost of future care and medication among others fall within the expertise of Valuation Economist Experts.

Call today (or complete the contact form) for a free consultation with one of our Medical Directors to discuss your case needs and learn more about Valuation Economist Expert Witnesses in our network. 

AMFS maintains the most comprehensive network of pre-qualified medical and related experts in all specialties.  Our in-house Medical Directors are prepared to consult, recommend and arrange for medical analysis and testimony as required for your case.

Our extensive experience and vast network of Valuation Economists enable us to rapidly identify and interview potential experts on your behalf and provide you with the C.V.s of those who are best suited to your case.


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