Personal Injury
When a person is injured or killed, the financial consequences can extend for decades. Assessing those consequences means forming a view on what the person would have earned had the injury not occurred, what they are able to earn now, and what additional costs the injury has caused. Each of those questions depends on evidence and assumptions that must be clearly explained and capable of being tested.
We prepare independent forensic accounting reports quantifying economic loss in personal injury and dependency claims. We act for plaintiffs, defendants, insurers and self-insured organisations, and our reports are prepared to assist the court rather than to advocate for either party.
Claims We Assist With
​
Our work covers economic loss arising from a range of personal injury matters, including:
​
-
Motor vehicle accidents and CTP claims
-
Workplace injuries, including work injury damages claims
-
Public liability claims
-
Medical negligence
-
Dust diseases
-
Compensation to relatives (dependency) claims arising from a death
-
Historical and institutional abuse claims
Quantifying Economic Loss
​
Economic loss in a personal injury claim is usually assessed under several heads of damage. We quantify:
​
-
Past and future loss of earnings and earning capacity
-
Loss of superannuation contributions and other employment benefits
-
Loss of business income, including the cost of replacement labour
-
Cost of paid and gratuitous care
-
Medical, treatment, equipment and accommodation costs
-
Fund management costs
-
Interest on past losses
-
Loss of financial support in dependency claims
Where future losses depend on matters that remain uncertain, such as the injured person's residual capacity for work or likely career progression, we set out alternative scenarios based on the medical and vocational evidence so that the effect of each assumption is clear.
Injured Business Owners and the Self-Employed
​​
Assessing loss is often most complex where the injured person runs their own business. Income may flow through a company, trust or partnership, be shared with family members, or vary significantly from year to year. Tax returns alone rarely show what the person actually earned from their own work.
​
Drawing on our business valuation experience, we analyse the financial records of the business to separate the return on the injured person's labour from the return on capital and the contribution of others. We consider how the business has been affected by the injury, the cost of engaging staff to perform the work the injured person can no longer do, and whether the business itself has lost value.
Working Within the Statutory Framework
​​
Damages for economic loss are shaped by the legislation that applies to each claim. In New South Wales this includes the Civil Liability Act 2002, the Motor Accident Injuries Act 2017, the Workers Compensation Act 1987 and the Compensation to Relatives Act 1897, each of which affects how losses are calculated, capped and discounted.
​
Our calculations apply the relevant thresholds, earnings caps and prescribed discount rates, and our reports identify the provisions relied on so that instructing solicitors and the court can follow how each figure was derived.
Independent Expert Evidence
​
Our reports are prepared in accordance with the expert witness code of conduct that applies in the relevant court or tribunal. We set out the instructions received, the documents relied on and the assumptions adopted, and we explain our reasoning in plain terms.
​
Where required, we participate in joint expert conferences, prepare joint reports with the opposing expert and give evidence in court. Learn more about our expert witness services.
Review of Opposing Expert Reports
​
Economic loss reports can turn on a small number of assumptions that significantly change the outcome. We review reports prepared by other experts to identify calculation errors, unsupported assumptions and inconsistencies with the evidence, and help legal teams prepare questions to the expert or cross-examination. This work is often undertaken as part of our shadow expert assistance.
Speak with a Forensic Expert
​
If you are acting in a personal injury or dependency claim and need economic loss quantified or reviewed, contact us to discuss the matter.
Contact
Like what you see? Get in touch to learn more.
