Economic Loss Assessment in Legal and Insurance Matters

Economic loss assessment involves evaluating the financial implications associated with injury, disability, or death. These analyses may include consideration of earnings, earning capacity, and costs associated with care or support needs, based on the information available in the case.

Purinton Analytics provides vocational evaluation and life care planning services and coordinates with qualified economists when economic analysis is required. This process is intended to assist attorneys, insurance professionals, and other stakeholders in reviewing financial issues relevant to the matter.

Economic Loss in Personal Injury Matters

In personal injury matters, economic loss assessment may involve evaluation of changes in earning capacity and work activity following an injury or medical condition. This process may include review of:

Pre-injury earnings history and work patterns
Education, training, and occupational background
Functional limitations as reflected in the available records
Potential employment options consistent with those limitations
Earnings associated with those options, when applicable

Vocational findings may be used in coordination with economic analysis to estimate potential changes in earnings over time.

Wrongful Death Economic Loss

In wrongful death matters, economic analysis may involve estimation of the financial contributions the individual may have provided. This process may include consideration of:

Earnings history and occupational background
Employment-related benefits, where applicable
Work-life expectancy assumptions used by the economist
Household services or other contributions identified in the records

Economic calculations are performed by or in coordination with qualified economists, who apply standard methods to estimate projected financial contributions based on available information.

Disability-Related Economic Loss

In matters involving disability, economic loss assessment may involve evaluation of the relationship between functional limitations and changes in employment or earnings. This process may include:

Vocational limitations identified in the available records or evaluations
Transferable skills and potential occupational alternatives
Differences in earnings across occupational options
Consideration of care needs or support services, when applicable

Vocational findings may be used as inputs for economic analysis addressing potential changes in earning capacity.

A Coordinated Approach to Economic Loss Evaluation

Economic loss assessment may involve multiple areas of analysis, including medical information, vocational factors, and economic modeling. Purinton Analytics provides vocational and life care planning services and coordinates with economists to ensure that each component is addressed within its appropriate scope.

The purpose of this approach is to maintain consistency between the underlying data and the resulting economic analysis, based on the information available in the case.

Methodology

These analyses are based on review of available records, including medical documentation, employment and earnings information, and other relevant materials provided. Vocational evaluations are conducted using established practices within the field of vocational rehabilitation.

Economic calculations are performed by or in coordination with qualified economists using standard economic methods. Assumptions used in the analysis, such as work-life expectancy or cost trends, are applied by the economist where appropriate.

All findings are based on the information available at the time of the analysis. If additional information is later provided, the analysis may be subject to revision.