What is a Loss?
A loss is the monetary value assigned to an injury or damage in a personal injury claim, including pain and suffering, past and future income, future medical care, at-home assistance, current medical bills, etc.
According to Black’s Law Dictionary, “loss” is defined as “the harm or damage resulting from an injury; the deprivation or detriment to an owner or possessor as a result of a judgment or voluntary transfer of property.” As such, loss is often a broad term in law, encompassing both tangible and intangible impacts as loss can come from a variety of forms of damages.
Legal principles governing loss aim to provide remedies, compensation, or restitution to individuals or entities adversely affected by wrongful acts, accidents, or adverse events. Loss can include economic loss, personal loss or property loss. The assessment of loss often involves evaluating evidence, calculating damages, and applying legal standards to determine liability and appropriate remedies in civil litigation or legal disputes. As a legal term, loss underscores the importance of addressing and mitigating the impacts of losses through legal recourse and equitable remedies in accordance with applicable laws and judicial principles.
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Pennsylvania Nets $4 Million in Avandia Settlement
Pennsylvania will rake in more than $4 million as part of a national settlement with GlaxoSmithKline over unlawful promotion of the diabetes drug Avandia.
The total payout – which will be shared by 37 states – is $90 million.
The settlement follows a flood of accusations that the British-based pharmaceutical company dangerously downplayed Avandia’s cardiovascular risks and side effects.
For more than 40 years, the Pennsylvania injury lawyers at Munley Law Personal Injury Attorneys have helped people who have been harmed as a result of unfair and deceptive business practices.
As part of the consent agreement, GlaxoSmithKline will change how it markets and promotes Avandia by:
- Not making bogus claims about Avandia;
- Not making safety claims about Avandia that are unsupported by substantial evidence or clinical experience;
- Not promoting investigational drugs; and
- Not misusing statistics or otherwise misrepresenting the nature, […]
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8 Tips for Avoiding Sandy Repair Scams
How to avoid a contracting scam
Pennsylvania residents should be on guard against Superstorm Sandy-related home repair scams.
Unqualified contractors, high-pressure sales pitches and price gouging are on the upswing – and unwary homeowners are paying the price.
The situation has prompted state Attorney General Linda Kelly to issue a consumer warning:
“Natural disasters can be a magnet for scam artists and unscrupulous operators who are more interested in taking money from storm victims than in helping with repairs,” Kelly said. “Consumers should remain vigilant, understand their rights and carefully evaluate any contractors they hire to repair homes or to address other storm damage.
“It is understandable for homeowners to look for speedy repairs, attempting to return to normal activities as quickly as possible, but consumers should not allow the desire for immediate repairs to cloud their judgment regarding contractors.”
Following are 8 tips to avoid falling prey to a shady shingle or siding company:
- Ask all contractors to give you their state registration number, […]
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Energy Drinks Linked to Injuries and Death
Popular high-caffeine energy drinks sold in hundreds of Pennsylvania grocery stores and gas stations might also be killers.
At least one wrongful death lawsuit has already been filed.
The mother of a 14-year-old Maryland girl who died of “cardiac arrhythmia due to caffeine toxicity” after consuming large cans of Monster Energy on two consecutive days has sued the product’s manufacturer for causing her daughter’s death, according to The New York Times.
And she is far from the only victim, as records just released by the U.S. Food and Drug Administration reveal.
The list of potential caffeinated killers identified by the FDA include:
- Monster Energy. Five people may have died over the past three years after drinking Monster Energy, a super-caffeinated beverage sold under names like Monster Rehab, Monster Assault and Monster Heavy Metal. […]
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Portable Generators Recalled Due to Fire Hazard
This is the season for portable generators in Pennsylvania.
But anybody who owns or uses one should check to make sure it isn’t a Champion Power model, which can leak fuel and explode into flames.
On November 2, the U.S. Consumer Product Safety Commission announced a nationwide voluntary recall of close to 9,000 portable generators made by Champion Power Equipment.
Fuel can leak from the generator’s carburetor, creating a fire hazard. There have been 11 reported cases of leakage, including eight fires and two incidents of property damage.
Portable generator usage soared in the wake of Hurricane Sandy – as did awareness of their potential dangers. To date there have been four reported deaths due to carbon monoxide poisoning from portable generators, although it is uncertain that the generators in those cases were the recalled Champion models. […]
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7 Ways to Fast-Track Your Sandy Insurance Claim
Claim your insurance protection for damage done by Hurricane Sandy
In the wake of Hurricane Sandy, thousands of Pennsylvanians are filing insurance claims under homeowners, auto, health and even life insurance policies.
Many will face long waits and daunting paperwork.
Some insurance slowdowns are inevitable following a disaster of Sandy’s proportions. Damage estimates range from $7 billion to $50 billion, according to the Wall Street Journal.
But by taking a few simple steps Pennsylvania residents can improve the odds of their claims getting fast-tracked for approval:
- Do your homework. Take pictures or video of the damage. Before-and-after photographs, purchase records and contractor estimates for repairs are especially valuable.
- Hurry up and file your claim. “Experts say that many homeowners hesitate because they aren’t really sure if they have enough damage to merit a claim—or at least a claim that is more than the value of the policy’s deductible,” the Wall Street Journal reported. […]
