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calculating a settlement
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calculating a settlement
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calculating a settlement
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08-23-2007, 03:41 PM
Post: #1
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calculating a settlement
does anybody no the formula in which workmanscomp calculates a lump sum settlement? this has had my curiosity since i was hurt 8 months ago, and still off of work!!
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08-23-2007, 04:10 PM
Post: #2
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RE: calculating a settlement
In PA the Bureau of Workers' Compensation maintains records of settlements based upon the settlements relationship to the injured workers compensation rate. These settlements are further broken down by geographic area. For example, the average lump sum settlement in my county is 3-4 years of compensation. The adjusters look at these statistics and normally start there negotiations about a year of compensation under the low end of the range and will rarely approve a settlement figure that exceeds the statistical norm. I wouldn't be surprised if there are similar statistics available in your state.
chicagoboy Wrote:does anybody no the formula in which workmanscomp calculates a lump sum settlement? this has had my curiosity since i was hurt 8 months ago, and still off of work!! |
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