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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PATCO to Pay $10 Million in Crash Settlement
After only twenty minutes into a car accident trial last week, a recess was called and the two parties came to agreement on a $10 million settlement to be paid by the Port Authority Transit Corp. (PATCO). The transit authority had admitted before trial that its truck driver was liable for the collision.
A 55-year-old Berlin, NJ man was driving to work in July 2007 when he was struck by a PATCO truck in Philadelphia, PA. The man had just crossed a bridge into Philadelphia when the PATCO driver ran a red light and shoved the man’s vehicle into a median strip. The accident resulted in shattered bones and a broken ankle to the driver.
The man has since undergone 12 surgeries and a painful debriding procedure to try to rid the leg of a serious infection which had begun to cause his flesh to rot. […]
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Car Accident Round-Up – Teens Involved in Serious VA and NY Accidents
Car accidents claim lives around the United States
Teenagers Die in VA Car Accident
A car accident in Portsmouth, VA late Saturday night left two teenagers dead and one seriously injured. The accident that occurred on Elmhurst Lane near Victory Boulevard apparently was the result of speeding. The car swerved off the road then struck several trees and a utility pole ejecting two of the occupants and pinning the third in the car. The two girls that died were 16-years-old. The third occupant, a 17-year-old male, was hospitalized with unspecified injuries. Police are unsure of who was driving the car.
Former KY Governor’s Son Dead After Single-Car Wreck
According to the Lexington-Herald Leader, former Kentucky governor Julian Carroll’s son, Bradley, died in a single-car accident Sunday in Franklin County, KY. Carroll was traveling south on US 421 near the Versailles Road overpass when his Ford Explorer went off the right side of the road, […]
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San Diego Man Awarded $2.4 Million in Asbestos Exposure Lawsuit
A San Diego Navy Veteran who was diagnosed in 2010 with mesothelioma, an asbestos-caused cancer, was awarded $2.4 million in damages after his disease was found to be attributed to his work in ship boiler rooms.
The lawsuit, filed against John Crane, Inc., claimed the plaintiff was exposed to asbestos while serving in the Navy from 1961 to 1971 in his work in the maintenance and repair of boilers, pumps and valves. The suit claimed John Crane made some of the asbestos-containing packing material and gaskets in the equipment.
The total damages of about $2.4 million include nearly $1.4 million in noneconomic damages and $450,000 for loss of consortium. The jury found John Crane five percent liable, the Navy and insulation companies 57 percent at fault, some manufacturers and suppliers 37 percent at fault. […]
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Car Accident Round-Up – CO Accident Takes Life of TX Billionaire
Texas billionaire broadsided by sports utility vehicle in Colorado
Texas Billionaire Dies in CO Car Accident
Charles Wyly, a 77-year-old Texas billionaire and philanthropist, died near Aspen, CO in a two-car crash on Sunday. Wyly, who was driving a Porsche, was turning back onto the highway near the airport, when his car was broadsided by a sport utility vehicle. Police believe Wyly failed to yield prior to entering the highway. Wyly, who was central to building the Dallas Arts District, was pronounced dead at the local hospital. The other driver suffered moderate injuries.
Rear-end Collision in FL on I-95 Kills One, Injures Two
A car stopped on the northbound lanes of I-95, north of Okeechobee Boulevard near exit 71, was rear-ended by another car early Sunday morning resulting in the death of a passenger, and serious injuries to the two drivers. The interstate was closed for close to four hours while rescue workers worked at the scene. […]
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California Women Awarded $1.2 Million in DUI Civil Lawsuit
Two CA women receive settlement after being hit by drunk driver
Two women, who suffered permanent injuries after an automobile accident with an assistant district attorney in Los Angeles who was driving drunk, agreed to a $1.2 million settlement in a civil lawsuit against the woman. The two women had already been awarded more than $1 million in compensatory damages by a jury.
The assistant DA had a BAC of .26, more than three times the legal limit, and admitted that she knew she was drunk. She decided to drive anyway in hopes that she would get home without getting caught. In the April 2010 accident, she rear-ended the two women near Long Beach, CA resulting in one woman suffering back injuries, facial scars and lost teeth, and the other suffering from back injuries.
The women had sought $2 million, but agreed to the settlement to avoid a second trial and to get immediate payment. […]
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