No amount of money can make up for a terminal illness such as mesothelioma, which is primarily caused by asbestos exposure, but filing an asbestos lawsuit can help secure compensation. However, pursuing compensation through a mesothelioma lawsuit can reimburse a victim and his or her family for related expenses and help them pay for necessary treatments and ongoing medical care. A lawsuit can also hold the negligent or at-fault party accountable, providing the victim with some measure of justice. Understanding the value of your mesothelioma case can help you pursue the amount that you deserve.
At Williams Law Firm P.C., we fight to secure the maximum compensation possible, helping clients recover damages for medical costs, lost income, and pain and suffering. Lead attorney Joseph P. Williams has never lost a mesothelioma case, bringing over 30 years of experience to every claim. Our team is committed to holding asbestos companies accountable, ensuring you receive the justice and financial support you deserve.
Mesothelioma settlements are financial agreements reached between the plaintiff and the defendant in a mesothelioma lawsuit. These settlements are often a favorable approach for both parties. For asbestos companies, settling a case can help avoid the high costs and uncertainties associated with a lengthy trial. On the other hand, victims and their families often prefer settlements because they provide a quicker resolution and guarantee financial compensation without the stress of a court trial. This expedited process can be crucial for mesothelioma patients who need immediate funds for medical treatments and other expenses.
The answer to this question depends on the specific case. Many estimates place the average mesothelioma lawsuit settlement amounts between $1 million and $1.4 million. However, each case is 100 percent unique. The settlement value that is appropriate for one victim may not match another, even if they have similar diagnoses. Some victims may receive less than $1 million, while other recovery amounts have exceeded $7 million. Rather than relying on an “average” settlement value, have an attorney calculate the worth of your specific case based on your circumstances and mesothelioma compensation eligibility.
Several factors can influence the amount of a mesothelioma settlement. Understanding these factors can help victims and their families better anticipate the potential compensation they might receive.
The extent and nature of asbestos exposure play a significant role in determining mesothelioma settlements. Individuals with long-term occupational exposure, such as factory workers, construction workers, and insulators, often receive higher settlements due to the clear-cut liability associated with their cases. However, even brief exposure to asbestos can lead to a successful legal claim. Courts have recognized that any level of asbestos exposure can be dangerous, and just one asbestos fiber is enough to cause mesothelioma. Therefore, the specifics of how, when, and where you were exposed to asbestos are critical in calculating your settlement.
The age and overall health of a mesothelioma patient at the time of diagnosis can significantly impact the settlement amount. Younger patients may receive higher payouts because they face long-term medical expenses and potential lost wages over a more extended period. Additionally, if the cancer is in an advanced stage, the patient may require more intensive and costly treatments, such as chemotherapy, immunotherapy, or palliative care. These factors are taken into account when determining the settlement to ensure that the compensation covers the extensive medical needs and financial burdens faced by the patient.
The number of liable companies identified in a mesothelioma case can directly affect the settlement amount. Asbestos exposure often occurs through multiple products made by different manufacturers. This means that mesothelioma patients can pursue separate settlements from each responsible party. For instance, if a patient was exposed to asbestos-containing insulation, auto parts, and construction materials from different manufacturers, they could potentially receive mesothelioma settlements from each company. Identifying all liable parties is crucial to maximizing the compensation received, as each company may be responsible for a portion of the total settlement.
Most mesothelioma settlements are calculated in two parts: economic and noneconomic damages. Filing an asbestos claim is a crucial step in seeking compensation, and in some cases, claims can be made against an asbestos trust fund established by bankrupt companies. Economic damages refer to the financial side of a mesothelioma case, such as the patient’s medical expenses. They are calculated using hard numbers, such as bills from the cancer center, pay stubs, travel receipts, and estimates of future costs based on existing bills. Noneconomic damages are the intangible side of a diagnosis, such as the victim’s pain and suffering. They are more difficult to calculate and are often up to a jury to decide based on factors such as the level of impact the illness has had on the victim. Understanding the different types of mesothelioma claims can help victims and their families navigate the compensation process more effectively.
Calculating a fair settlement for a mesothelioma claim starts with making a list of all of the victim’s compensable losses due to asbestos related diseases. A mesothelioma diagnosis can lead to significant emotional and financial burdens, making it essential to pursue legal action for compensation. Compensable losses in a mesothelioma case often include:
A plaintiff’s exact list of losses will depend on the specific situation. It’s important to work with an attorney to create your list of losses so that you don’t leave anything out. An attorney can accurately estimate the value of each type of loss, as well using accountants and experts, to determine the potential value of your claim.
Most, but not all, mesothelioma lawsuits end in asbestos settlements. Mesothelioma settlements and verdicts are two distinct forms of compensation. Settlements are preferred to jury trials for many reasons, including protecting the privacy of the parties involved, retaining some measure of control over the outcome of the case, and both parties benefitting from a shorter timeframe and fewer legal costs. If a case goes to trial and succeeds, however, the judgment award will most likely be higher than a settlement.
If you or a loved one has been diagnosed with mesothelioma, you need to understand the value of your case before accepting an insurance settlement. Unfortunately, insurance companies cannot be trusted to accurately evaluate a claim. Turn to an experienced mesothelioma attorney for advice that you can trust instead. Experienced mesothelioma attorneys can provide invaluable support in navigating the complex legal landscape.
A mesothelioma lawyer will carefully analyze your case to calculate its value. Your lawyer will take over settlement negotiations with an insurance company or handle a court trial to achieve maximum financial compensation through mesothelioma lawsuit settlements. For more information about the value of your mesothelioma case, contact The Williams Law Firm, P.C., to request a free consultation by calling (855) 575-6376 or filling out a contact form.
As the founding partner of Williams Law Firm, Joseph P. Williams has dedicated over 30 years to representing mesothelioma victims and their families. His firm has recovered hundreds of millions of dollars for those affected by asbestos exposure, offering personalized, aggressive legal advocacy. Based in New York, Williams Law Firm provides free consultations and handles cases nationwide.
