What is the Average Settlement for a Mesothelioma Case?
A big majority of mesothelioma cases end in settlement before going to the courtroom. However, some cases end up going into a trial. During a trial, the judge or the jury may be forced to make a verdict awarding compensatory as well as punitive damages. Most of these verdicts and settlements have reached into large amounts, mostly millions. These amounts are often awarded so as to cover costs such as medical expenses, lost wages/income, physical and mental anguish and other bills that may accumulate when the patient is dealing with mesothelioma or any asbestos-related disease .
What are the Estimated Mesothelioma Settlement Amounts?
Now even though millions have been paid in mesothelioma verdicts and settlements, it’s not an easy job to estimate the total amount an individual will receive after filing a claim. This is solely because certain factors such as the individual’s diagnosis, time of filing the claim, the company/companies sued, medical history of the victim, proof of negligence among others, have to be taken into consideration. The actual verdict and settlement amounts are actually private, and the person filing a claim must sign a confidentiality agreement.
However, once in a while, these amounts end up gaining access to the watchful public eye. For example, a claimant known as Nancy Lopez was awarded a settlement worth $10 million in Missouri by a judge. The claimant became exposed to asbestos while working on a renovation project managed by the United States Engineering Company. Another settlement worth $43 million was awarded to over 1300 mine workers together with their immediate families in Libby, Montana.
The family of a New Jersey construction worker received a $2.1 million settlement after he died of mesothelioma, but a Navy veteran received settlements totaling $461,000 after he developed asbestos-related lung cancer.
Although no mesothelioma cases are similar, a recent Mealey Litigation Report stated that the average trial award for mesothelioma is estimated to be 2.4 million. The average settlement was reported to range between $1 and $1.4 million, where they are paid by a number of defendants.
Which Factors Affect Mesothelioma Settlement Amounts?
Before filing a mesothelioma lawsuit. it’s important to first understand the main factors affecting mesothelioma settlement amounts. This way, you will know whether you have good chance of getting a huge settlement or not. Some of these factors include;
Should you Settle or Simply Seek a Verdict?
This is a decision that should be after seeking advice from a professional, highly experienced mesothelioma lawyer since he/she perfectly understands the good, the bad, and the ugly of such cases.
Most mesothelioma lawsuits never go to trial. Mesothelioma attorneys usually try to settle their cases outside of court to save their clients the time and hassle of a trial.
As with any other case, your mesothelioma lawyer is entitled to receive a certain percentage of the settlement or award. It’s best to discuss the attorney fees beforehand. He/she will only receive the amount once the case is closed, and that you have received full compensation.