Hazardous Working Conditions
As a result of hazardous working conditions, an employee suffered from serious medical issues, including advanced stage renal failure. The employer admitted liability in the case and the employee was eventually “medically retired” as a result of his illnesses.
KRyS Global was retained by the plaintiff to issue an independent report to the court quantifying the employee’s lost earnings (past and future), pension benefits, and medical costs.
KRyS Global conducted an analysis of the plaintiff’s past earnings, potential for promotion, pension benefits, and medical costs. Based on our analysis, we estimated probability and risk adjusted losses using the principles embodied in the “Ogden Tables” (a set of actuarial tables issued by the UK Government for use in personal injury cases). Relying on the Privy Council’s ruling in Helmot vs. Simon and similar cases we recommended a negative discount rate to value the loss of earnings award, which resulted in a higher future earnings loss calculation.
KRyS Global’s independent report was, in large part, accepted by the defendants. Under oral cross-examination, the defendants’ attempted, unsuccessfully to challenge the compensation assumptions used by KRyS Global. Ultimately, however, the court accepted KRyS Global’s calculations and made an award in excess of $4 million in favour of the plaintiff.