finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Slip and fall accidents can occur anywhere and at any time, especially on Long Island, where bustling commercial spaces and changing weather conditions often contribute to such incidents. If you find yourself the victim of a slip-and-fall accident, it's crucial to know how to protect your rights and maximize your compensation. Here's a practical guide on taking the right steps post-accident, documenting your injuries, keeping meticulous records of your medical expenses, and understanding how a slip and fall lawyer Long Island can be instrumental in your case.

Act Immediately After the Accident

The moments following your accident are crucial for your health and any future compensation claims. Firstly, seek medical attention, even if your injuries seem minor. Not all injuries are immediately apparent, and a medical record is a pivotal piece of evidence in personal injury claims.

Document Everything

Documentation is your strongest ally in a slip and fall case. Take pictures of the accident scene, noting any conditions that contributed to your fall, such as wet floors, ice, or uneven surfaces. Gather names and contact information of witnesses; their accounts could strengthen your claim.

Keep Detailed Records

Maintain a comprehensive record of all medical treatments related to your slip and fall accident. This includes doctor visits, physical therapy, medications, and any other related expenses. Keep a log of lost wages if your injuries prevent you from working. Documenting the impact on your daily life and activities can also support your claim for non-economic damages, such as pain and suffering.

Understand the Legal Landscape

The legal framework surrounding slip and fall accidents involves proving negligence on the part of the property owner. This means showing that the owner knew or should have known about the dangerous condition and failed to address it adequately. Legislation, such as the "fairness for accident victims act," emphasizes the importance of not allowing prior arbitrations to unduly influence the outcome of serious personal injury actions, thus potentially benefiting claimants by allowing for the arbitration decisions to serve as relevant evidence without causing collateral estoppel.

The Importance of Legal Representation in Slip and Fall Cases

Navigating the aftermath of a slip and fall accident can be an overwhelming process, filled with complex legal procedures and negotiations that can be difficult for individuals to manage on their own. Securing the services of a skilled lawyer is not just beneficial; it's a crucial step towards ensuring your rights are protected and that you receive the compensation you're entitled to. An experienced attorney brings a wealth of knowledge and resources to your case, offering personalized guidance and support from the initial consultation through to the resolution of your claim.

Evaluating Your Case and Handling Negotiations

The first step in securing legal representation is the case evaluation, where your lawyer will assess the details of your accident to provide a clear understanding of your legal options and the potential for compensation. This evaluation is critical in developing a strategic approach tailored to the specifics of your situation.

Dealing with insurance companies is often one of the most challenging aspects of a slip and fall case. These companies have significant experience in minimizing payouts to claimants. An experienced lawyer knows how to navigate these negotiations effectively, ensuring that you are not pressured into accepting an unfair settlement. They will leverage the evidence and the law to argue for a compensation package that truly reflects the extent of your injuries and losses.

Advocating on Your Behalf

Should your case proceed to court, having a lawyer to advocate on your behalf is invaluable. Your attorney will use their legal expertise to present a compelling case, highlighting the negligence that led to your injuries and the impact those injuries have had on your life. They will fight tirelessly to secure the compensation you deserve, offering peace of mind that your case is in capable hands.

Guidance and Support

Beyond the courtroom, your lawyer will be an essential source of guidance and support. They will advise you on how to communicate about your case, ensuring that you do not inadvertently affect your chances of success. They will also navigate you through the legal proceedings, representing your interests against the insurance companies and other parties involved. This comprehensive support allows you to focus on your recovery, knowing that your legal matters are being handled with expertise and care.

Conclusion

A slip-and-fall accident can have significant repercussions on your health, finances, and overall well-being. Taking the right steps immediately after the accident, documenting your injuries and expenses, and understanding your legal rights are essential components of securing fair compensation. With the support of a knowledgeable lawyer on Long Island, you can navigate the legal process more effectively, focusing on your recovery while your legal team focuses on securing the compensation you deserve.

 

Liability for slip and fall accidents in New York is based on the legal concept of premises liability, which states that the property owner is responsible for keeping their premises safe.

Slip and fall accidents can result in minor, mild, or severe injuries requiring long-term care. In some instances, victims are also unable to work for extended periods. With medical bills, lost wages, the pain of recovery, and other complications, slip-and-fall accident victims are often left to fend for themselves.

However, if you work with a slip-and-fall accident attorney, you could receive compensation for all your damages and losses. But how can you prove liability in these types of accidents?

Premises Liability Laws in New York

To prove premises liability in New York, you will need to establish the following:

• Identify the property owner of the area where the slip and fall occurred and prove that they had a duty of care to keep their premises safe
• Demonstrate that the property owner breached their duty of care as they didn’t maintain safe conditions on their premises
• The property owner’s negligence caused your slip-and-fall accident
• The slip and fall accident resulted in your injuries

Slip and fall accident victims must collect evidence to prove the abovementioned factors. This can be in the form of photos or video footage of the hazardous conditions on the property.

Victims can also use witness statements in their claims and medical records documenting the extent of their injuries. This is why it’s important to get witness names and contact information before leaving the accident scene and requesting an ambulance to treat your injuries.

Working With a Slip and Fall Accident Lawyer

In New York, several legal considerations may come into play in your slip and fall accident case. For example, the statute of limitations is three years from the accident date.

If you fail to report the accident and file a personal injury claim within this period, your claim might be dismissed and be barred from receiving compensation. Another important legal consideration to keep in mind regarding slip and fall accidents in New York is that the state follows the comparative negligence system.

This means that your negligence might be taken into account when liability and damages are determined, and you might lose some of your final compensation. Because of this, it is crucial to prove liability and have the smallest percentage of fault or none at all. To do this, slip-and-fall accident victims should consider working closely with a slip-and-fall accident lawyer.

These types of lawyers can help you throughout your case, present you with your legal options, gather evidence, and negotiate on your behalf with the insurance companies. A lawyer will also help you file a lawsuit. No matter what happens in your case, a lawyer can help you prove fault and ensure that you are rightfully compensated for your troubles.

If you or a loved one have suffered catastrophic injuries in a truck crash in Florida, you must understand your rights to seek damages for your losses and injuries.

In this article, we will offer more information about the compensation options and the calculation methods for catastrophic injuries in Florida truck crashes.

Compensation Options for Catastrophic Injuries

If you have suffered catastrophic injuries, it is crucial to explore your compensation options. Get in touch with a truck accident lawyer in Gainesville for more about the specific damages you can get in your claim.

When pursuing a legal claim, various types of compensation are available to help you recover from your injuries' physical, emotional, and financial impacts.

Economic Damages

Economic damages refer to the financial losses suffered due to catastrophic injuries. They aim to compensate the injured party for their measurable and tangible losses. Economic damages can include:

Non-Economic Damages

They intend to compensate the injured party for the non-monetary losses they have experienced. These damages are more subjective and cover intangible aspects of the injuries. Non-economic damages can include:

Calculation Methods for Catastrophic Injury Compensation

Different methods are used to determine the amount you may be entitled to in calculating compensation for catastrophic injuries. These calculation methods consider various factors, such as the severity of your injuries, the impact on your life, and the extent of your financial losses. The two methods are as follows:

Multiplier Method

The multiplier method is a common approach used to calculate non-economic damages. This method involves multiplying the economic damages by a predetermined factor (multiplier) based on the severity of the injuries. The multiplier is typically determined by various factors, including the extent of the injuries, the impact on the injured party's life, and the expected duration of the effects.

Per Diem Method

The per diem method calculates non-economic damages by assigning a daily monetary value to the injured party's pain and suffering. This value is multiplied by the days the injured party is expected to experience pain and suffering due to the catastrophic injuries. The per diem rate is determined based on various factors, such as the severity of the injuries, the estimated recovery time, and the impact on the injured party's life.

Obtain All the Compensation Owed To You!

Suffering catastrophic injuries in a truck crash can be life-altering, impacting your physical, emotional, and financial well-being. Understanding the compensation options and the calculation methods used is crucial when seeking maximum compensation for your damages.

By pursuing economic and non-economic damages, you can recover the financial losses and receive compensation for the pain, suffering, and other intangible losses caused by the catastrophic injuries. Seek legal representation to protect your rights and get the compensation you deserve.

 

The worst types of accidents are those caused by negligent drivers since they are the only types of accidents that are preventable. If a negligent driver responsible for causing a crash had paid attention, then they never would have crashed their car.

If you have been involved in an accident and that accident was caused by another driver’s recklessness or negligence, then you need to take legal action. This post will tell you about the legal and financial considerations you need to have in mind after your accident.

Hiring Lawyer

After a car accident, you need to reach out to a personal injury lawyer. Ideally, you should find a specialist lawyer (i.e., one that specialises in a specific area of personal injury law relevant to your accident, like a motorcycle accident lawyer for example. Before you go ahead and hire a lawyer, you need to make sure that you do a little bit of research online. A lawyer’s reviews should give you a good idea of what it is like to work with them, and also their level of experience. Many lawyers will publish the exact amount of money that they have won in total, for all of their clients, on their website. It is worth checking out your prospective lawyer’s site to see if they have this information publicly available.

Getting Compensation

Compensation should be at the forefront of your mind. If you have been injured by another person, then you are entitled to it. After all, you didn’t ask for your injuries or even cause them. The person who is responsible for causing them should pay you money so that you can recover and return to normalcy, especially if the injuries are very severe and have changed your life. A lawyer will be able to help you claim compensation. It’s very unlikely that you will be able to get compensation for your injuries on your own.

Criminal Charges

Criminal charges may be worth considering. Did the person who injured you do so because they were being intentionally aggressive? If your injuries were indeed caused by a person who was making an active effort to hurt you or who was being dangerously negligent, then you may want to call the police. It is especially important to get the police involved if you suspect that the person who injured you did so because they were under the influence of drugs or alcohol. You should never allow intoxicated drivers to get away with their crimes, even if the injuries that they caused were minor.

Recovery Time

After any car accident, you need time to recover. Car accidents can be very scary. If yours hasn’t caused physical injuries, it may still cause mental ones. When people are claiming compensation for their injuries, a lot of people also claim compensation for emotional distress. The reason for this is those car accidents can be very intimidating. Many people are too scared to get back behind the wheel of their cars after a car accident, out of fear of being injured again. Some people aren’t ever able to get in a car again.

Attending Court

If you are suing the person who has injured you and won’t be claiming compensation through their insurance agency, then you will need to attend court. The reason that you will need to attend court is that it’s impossible to sue somebody without confronting them in civil court. You will need a lawyer to represent you in court and to handle all of your case’s paperwork. Make sure that you are patient and respectful, and allow your lawyer to do their job. A lot of people try to micromanage their cases and give their lawyers a very hard time. Relax and let your lawyer handle everything.

Break from Work

You may need to take a break from work if you have been involved in an accident, depending on the severity of your injuries. If you are going to take a break from work, then how are you going to survive financially? Things aren’t easy at the minute. It might be worth taking out a loan. A loan will help you to keep yourself going while you are off of work. You can then pay back your loan once you have received your compensation, which shouldn’t take too long. You will usually receive your compensation within a year of making a claim.

Car accidents shouldn’t be taken lightly. If you have been involved in one, and your accident was caused by another person’s negligence, you need to take action. This post’s guidance tells you everything that you need to do (and consider) in the wake of an accident. 

Getting Compensation If You're Injured In A Truck Accident

Eighteen-wheeler shipping trucks are responsible for the deadliest auto accidents because they’re larger and take more time to slow down. If you were involved in a minor or severe truck accident, hire an experienced lawyer and get the compensation you deserve

According to HD Fleet, the average cost of a commercial truck accident that includes an injured person is $148,279. If a fatality occurs, the cost can shoot up to over $7 million. You owe it to yourself to protect your financial future, regardless of how high or low your bill could be.

25 Costs Associated With A Commercial Truck Accident

One of the most interesting facts about cars is that rear-end crashes are the most prevalent auto accident. As a positive, rear-end truck accidents are more affordable than other crashes. Here are the direct and indirect costs associated with a truck accident:

  1. Vehicle Damage: Any damage done to the vehicle at the time of the accident.
  2. Cargo Damage: Bruised, damaged, or lost cargo is often calculated.
  3. Towing Costs: If the vehicle is really damaged, it may have to be towed.
  4. Vehicle Storage: Towed vehicles must be stored in another location.
  5. Medical Costs: Medical costs for the employee and other accident victims.
  6. Injury Costs: Health-related costs that deal with physical or mental injuries.
  7. Insurance Increase: Even minor accidents will increase your insurance. 
  8. Administrative Costs: An extra insurance cost that isn’t included in the rate.
  9. Loss of Revenue: Workers' compensation may make up for lost revenue. 
  10. Lost Sales: Without an extra vehicle on the road, the company will lose sales.
  11. Lost Customers: Lost sales also include fewer customers or clients.
  12. Missed Meetings: Neglected meetings must be made up at a later date.
  13. Salaries Paid: If worker compensation is paid out, it can become expensive.
  14. Lost Time at Work: A lack of help can lead to company downtime.
  15. Cost to Retrain: If the employee leaves for a while, the company has to retrain.
  16. Cost to Rehire: If the employee can’t go back to work, the company has to rehire.
  17. Agency Costs: These costs relate to an agent that acts on behalf of the government.
  18. Damaged Equipment: A lack of equipment can also lead to company downtime.
  19. Equipment Depreciation: A damaged vehicle will depreciate faster.
  20. Loss of Property: If the vehicle is totalled, the best a company can do is write it off.
  21. Vehicle Replacement: A new truck can cost $35,000 to $200,000 each.
  22. Fines and Penalties: The party that’s cited for a traffic violation must pay a fine.
  23. Medical Fees: These medical fees include ongoing medical costs after the accident.
  24. Accident Reporting: Reporting the accident to a lawyer is often very expensive.
  25. Loss of Reputation: A damaged reputation can take years to rectify.

While these costs are considered “visible,” there are plenty of hidden or indirect costs the accident victims or company can’t account for. The amount of revenue a company has to make back to make up for lost profits could be staggeringly high but impossible to show on paper.

The best way to avoid these costs is to prevent them, but that can be hard with an unhappy workforce. Employee engagement methods, such as great training, feedback, and mental health awareness, can help protect a company’s bottom line while also keeping your employees safe. 

However, distracted driving is often cited as the #1 cause of accidents. By adding small things to your trucks (car radios and self-driving mechanisms), you can prevent most truck crashes. 

1. Know That Every Case Is Different

Every case is different when it comes to Indiana truck accident settlements. The settlement will depend on several factors, including the severity of the injuries, the amount of property damage, and insurance coverage. Sometimes, the settlement may be paid by the trucking company's insurance carrier. However, the driver's insurance policy or the truck’s parts manufacturer may pay it in other cases.

The best way to determine what you can expect in a settlement is to speak with an experienced truck accident law firm. A truck accident attorney can review your case and help you understand your legal options. With this information, you can decide whether to settle your case or take it to trial.

2. Don't Expect A Quick Payout

After being involved in a truck accident, you may be anxious to receive a settlement from the insurance company. However, it is important to remember that the claims process can take time, and you shouldn't expect a quick payout. The insurance adjuster will need to investigate the accident and gather evidence, which can take weeks or even months.

In addition, if you have suffered serious injuries, you may need to wait until you have reached maximum medical improvement before pursuing a settlement. This means that your injuries have stabilised and are not expected to improve further with treatment. As a result, it is important to be patient after a truck accident and not expect a quick resolution.

3. Be Prepared To Negotiate

A truck accident lawyer will likely want to settle your case as quickly and cheaply. You need to be prepared to negotiate to get the most value out of your truck accident settlement. Truck accidents are often much more complicated than other types of accidents, and trucking companies have teams of lawyers experienced in negotiating settlements.

As a result, it is important to have an experienced truck accident lawyer on your side who can level the playing field and help you get the settlement you deserve. Contact an expert lawyer to learn more about your legal options if you have been involved in a truck accident.

4. Know What To Expect In Terms Of Compensation

After you've been involved in a truck accident, you may be wondering what kind of compensation you can expect to receive. Of course, like most people, you'll probably be focused on getting your medical bills paid and making sure you have enough money to cover your lost wages. While these are certainly important things to consider, it's also important to understand that other types of compensation may be available to you.

For example, you may be able to recover damages for pain and suffering, emotional distress, loss of consortium, loss of daily enjoyment of activities, and even punitive damages (in rare cases). Punitive awards are typically awarded in addition to any compensatory damages you may receive. As such, it's important to discuss all the potential types of compensation with your attorney to understand what you might be entitled to clearly. Only then can you decide whether or not to accept a settlement offer from the insurance company.

5. Consider All Your Options

After you've been involved in a truck accident, you'll need to make important decisions about how to proceed. One of the most important choices you'll need to make is whether or not to accept a settlement offer from the insurance company. While settlements can be a quick and easy way to resolve a case, they're not always in your best interests. For example, an insurance company may offer a quick and small settlement to make you go away, but your attorney may want to fight harder for a bigger settlement or even a court award. 

Before you decide, it's important to consider all your options and understand the pros and cons of each. Only then can you make an informed decision about how to proceed with your case.

Conclusion

Indiana truck accident settlements can vary significantly depending on the severity of the accident and the insurance coverage. Therefore, it is important to speak with an experienced truck accident lawyer to understand your legal options and what you can expect regarding a settlement. With this information in hand, you can decide whether or not to settle your case or go to court and find justice there. 

When you are injured while performing duties for your job, your employer is required to provide you with workers’ compensation insurance coverage. One of the benefits under this coverage is payment for lost wages when you cannot work due to your injury.

There are important things you need to know about what the workers’ compensation company will pay for lost wages. This article will cover the basics.

About Workers’ Compensation

Worker’s compensation is designed to cover an injury you incur while you are working. It is a no-fault insurance which means you are eligible for coverage even if you are partially responsible for your injury. There are exceptions, however. For example, if you were under the influence of drugs or alcohol when the injury occurred, the insurance company may be able to deny your claim.

What Does Workers’ Compensation Cover?

Workers’ compensation covers expenses the employee incurs due to a work injury. The rules related to workers’ compensation are different in each state, but there are some universal requirements. Workers’ compensation covers medical expenses, lost wages, and other costs associated with the injury.

Your insurance company may require you to visit a specific doctor while others may allow you to choose your own doctor. In some cases, you can see your own doctor but you will be required to see the company’s physician as well.

Calculating Wages

Most workers’ compensation companies pay an injured worker 66% of their normal weekly wages. The calculation is based on what you earned the previous 52 weeks, although each state has its own formula that determines how much you will receive from workers’ compensation. Make sure the insurance company calculates using your pay before taxes and not your pay after taxes are deducted.

Most workers’ compensation companies pay an injured worker 66% of their normal weekly wages.

Workers’ comp insurers are also required to include overtime, bonuses, and other compensation. In most cases, your workers’ compensation benefits are not subject to federal taxes.

What to Do If You are Injured on the Job

If you are injured on the job, the first thing you need to do is inform your employer. Most companies have work injury reporting procedures that you need to follow in order to get compensated. You will also want to seek medical attention as quickly as possible after the injury in order to document how severe your injury is and what treatments you will need to undergo.

Follow all your doctor’s orders even if you begin to feel better. Keep in mind that worker’s compensation insurance companies may hire investigators to watch claimants to be sure they are actually injured.

Should I Hire an Attorney?

A fair worker’s compensation should be enough to pay for medical care and cover lost wages. Because insurance companies often make errors in the calculation of wage repayment, it is advisable that you hire a worker’s compensation attorney.

Hiring an attorney does not mean you plan to sue your employer. In fact, in most states, you cannot sue your employer for a workplace injury. Instead, an attorney will review your case, make sure you get the compensation you are entitled to receive under the law and guide you through a process that can be very complicated and stressful.

Here are a few of the things a lawyer will do for you:

[ymal]

Your attorney will deal with the insurance company, your employer, investigators, and even your doctor to confirm that you get the time you need to recover from your injury without worrying about how you will meet your financial obligations.

Being faced with long-term illness or disability is incredibly stressful, and can cause serious implications for your finances. For those who have become financially vulnerable due to ongoing illness, or are looking for ways to plan for unexpected circumstances, business growth consultant Daniel Groves has compiled some the resources that can help.

Sick Pay

The first avenue for most people facing illness, injury or sudden disability is going to be sick pay from your employer. Check your employment handbook for details about the policy at your workplace, and communicate (in writing) with your employer’s HR department if they have one.

If there is no specific policy or insurance coverage at your workplace, you can claim Statutory Sick Pay (SSP) as long as you are employed but unable to work and earning an average of at least £120 a week. The current SSP rate is £95.85 a week. If your employer is refusing to pay SSP (or refusing to pay the full amount), contact the HMRC statutory payment dispute team.

When you think you are able to return to work, remember that you can ask your employer for accommodations to help you perform your job safely and comfortably. For example, requesting non-standard equipment that’s adapted for your physical needs.

Legal Compensation

Not every instance of sickness or injury is going to have a legal route to pursue, but if you’re suffering as a result of someone else’s actions (or negligence), you may be entitled to financial compensation.

For example, it’s compulsory for UK workplaces to have Employers Liability Insurance in case of accidents and injuries. Even if you feel partially responsible for an incident, you may be eligible for compensation if your employer is deemed to be mostly at fault, or has failed to follow Health & Safety regulations. In addition to claiming from your employer’s insurance, you may be eligible for Industrial Injuries Disablement Benefit, depending on the severity of your condition.

It’s compulsory for UK workplaces to have Employers Liability Insurance in case of accidents and injuries.

It’s possible to claim compensation if you have become ill or injured at the hands of medical professionals - either due to a procedure being carried out incorrectly, or a misdiagnosis leading to delayed or inappropriate healthcare. This can extend to psychological trauma caused by witnessing medical negligence - for instance, a father present at a traumatic birth. Medical negligence claims do require the expertise of a specialist lawyer, but a free consultation will give you an idea of whether you have a case.

The Government offers compensation to victims of violent crime, including those left with physical injuries, disabling mental injuries and/or a loss of earnings due to an inability to work for more than 28 weeks.

Money and Mental Health

Changes in circumstance are often triggers for mental health deterioration, especially when an ongoing sickness, injury or disability is beyond your control. Money worries will add extra stress, so working on healthy thought patterns and habits is a good idea - for example, tracking your spending and identifying the most stressful situations regarding money. The mental health charity Mind has some excellent guidance for navigating money and mental health

Personal Benefits - ESA, Universal Credit and PIP

If you run out of Statutory Sick Pay, or aren’t eligible, you can apply for new-style Employment and Support Allowance (ESA). ESA is intended to support you if you can’t work, or can only work a few hours a week due to a disability - however, you need to have made National Insurance contributions for the last 2-3 years.

Universal Credit is the new system to replace Income Support, Housing Benefits, tax credits and the previous Employment and Support Allowance scheme. You can claim Universal Credit in addition to SSP and/or ESA, or as an alternative if you don’t qualify.

You can claim Universal Credit in addition to SSP and/or ESA, or as an alternative if you don’t qualify.

Personal Independence Payment (PIP) is financial support for people who struggle with everyday tasks and have difficulty getting about (previously called Disability Living Allowance). If your illness, injury or disability has affected you for at least 3 months, and is expected to last for at least another 9 months, you should qualify.

PIP provides between £23.60 and £151.40 a week, depending on the severity of your condition, but it is not affected by your existing income or savings. Universal Credit is means tested, however, so will be affected by your savings, income, and spouse’s income.

It can be confusing, but the Turn2Us charity is dedicated to helping people experiencing hardship understand what financial benefits they’re entitled to. Their calculator is a good place to start.

Assistance with Housing Costs

Temporary support is available if you need help with paying your mortgage or rent. Homeowners can apply for a loan to help them make interest payments on their mortgage, called Support for Mortgage Interest (SMI). This money is paid 39 weeks after application, and must be paid back when you return to work or sell your home - so it may not be suitable in every circumstance.

Renters can make a claim for housing costs under Universal Credit.

Low-income households are eligible for a reduction of their Council Tax, although specific schemes vary across the UK.

Food Banks

If your circumstances suddenly make it difficult to put food on the table, look for local services, like food banks, that can help you with the basics. The Trussell Trust is a network of 1,200 “community organisations aimed at supporting people who cannot afford the essentials in life”, and will help you locate your nearest options or arrange a food parcel.

[ymal]

Your nearest food bank may be run by a church or religious group - you can go to them even if you’re not religious, or follow a different religion.

If you’re not sure whether you’re eligible for food bank aid, your local Citizen’s Advice Bureau will be able to help (and give you a referral, if you need one). They may also be able to provide vouchers for clothing, fuel and other essentials.

Support for Carers

Remember that there is a whole other side to long-term illness, which is that your carers may also be eligible for financial support and benefits. For example, the Carer’s Allowance offers full-time carers £67.25 a week, and Carer’s Credit that covers gaps in National Insurance records so that carers can still be eligible for a State Pension.

Also, if your capacity to manage your own money is diminished, there are resources for asking others to support you in making financial decisions, or to become an appointee to make decisions on your behalf.

Ultimately, preparing for the unexpected is very difficult, and there’s no exhaustive list of resources that cover every eventuality. If you find yourself facing financial hardship due to an illness, injury or disability, know that there is always advice and financial assistance available if you ask.

Lloyds Banking Group will be required to refund customers due to violation of rules on communicating with PPI customers, the UK’s Competition and Markets Authority (CMA) announced on Wednesday.

A total of £975,000 in refunds has been secured for Lloyds’ payment protection insurance customers in the last year for breaching regulations, with the latest refunds amounting to £17,000. These new refunds come after Lloyds self-reported three breaches affecting “8,800 people who were sent incorrect information in annual reminders to mortgage PPI customers”, according to the CMA.

PPI was conceived as a form of insurance that would help customers maintain loan repayments if their financial circumstances worsened. After aggressive marketing of the insurance by banks in the 1990s and 2000s, a 2011 court case ended the practice and allowed a wave of consumer compensation claims to be issued.

All PPI providers are required under UK law to send annual reminders to customers that set out clearly the cost of their policy, the type of cover they have and remind them of their right to cancel.

In two of Lloyds’ latest breaches of the CMA’s order, the monthly amount PPI policyholders could claim was displayed in the incorrect section of their reminders. In the third, the figure quoted in the reminders was incorrect.

Lloyds has informed the CMA that it broke the order 18 times over an 8-year period.

The FCA said last year that that PPI claims have become “the largest consumer redress exercise in the UK’s history”, with UK banks having paid £38 billion for PPI mis-selling between 2011 and 2020.

[ymal]

“It’s a real concern that PPI providers are still breaking the rules by sending inaccurate PPI reminders despite a clear, well-established Order from the CMA,” said Adam Land, the CMA’s Senior Director of Remedies, Business and Financial Analysis. “These failures can mean people end up paying for insurance they no longer need.”

According to recent statistics, about 264 million vehicles hit the road annually in the US. Moreover, there are more than 210 million registered drivers, making the country’s roads some of the busiest. Despite introducing new and advanced safety features in cars, about six million car accidents take place on American roads each year.

Most of the victims file personal injury claims, and insurance carriers pay out billions of dollars annually. If you have been involved in an auto accident, you may want to know how much compensation you can get from your insurance firm.

Although there’s no specific amount payable after a car accident, understanding how insurance firms calculate settlements can help you estimate how much money you’re entitled to. Some companies use software for calculations. See more information about factors that could affect your settlement to make sure you are well-prepared before diving into a personal injury claim.

The Type of Insurance Policy

An insurance provider will determine the settlement based on the specific type of policy each driver holds, and their maximum limits. For example, in some jurisdictions, drivers must have minimum coverage that includes $5,000 for damages to other vehicles, and $15,000 for injuries or death of a person during an accident.

In some areas, you can choose between full tort and limited tort. On one hand, the latter offers policyholders the possibility to file claims for economic and non-economic damages, irrespective of the severity of the injuries. On the other hand, for limited tort, drivers can save money on their premiums.

Nevertheless, drivers must waive their rights to claim damages such as pain and suffering, unless their injuries are considered serious. The injured parties can still file claims against the other drivers, or they can file third-party claims against their insurance firm for monetary damages. There are limitations on non-economic damages as well, including whether the driver who caused the accident was impaired.

Your Current and Future Medical Expenses

If it’s clear that if liability is on the other driver’s part, their auto insurance firm is likely to offer a quick but small settlement before evaluating the full extent of the injuries you have incurred. Why should you be concerned about that? Well, no policyholder can tell how damaging the injuries will be or how much money they will spend on future treatment in the immediate aftermath of a car accident.

[ymal]

In some cases, other medical complications could develop from current injuries. Ideally, an insurance company should rely on experts who understand the injuries in order to determine the costs of any future treatments. For example, the settlement may include expenses such as medications and ambulance health care services.

Reimbursement for Out-of-Pocket Expenses

The recovery process includes a lot of expenses. Your settlement may include costs such as hiring a car while yours is being repaired, transportation costs to and from medical facilities, and hiring someone to perform household chores you may not be able to perform because of your injuries. In order to get compensation, you must keep copies of all the bills and explain why they’re important.

The Impact of the Accident on Your Life

The settlement may include non-economic damages if the victims have full tort coverage and/or limited tort coverage in some cases. This refers to compensation for damages that affect your well-being and ability to engage in various activities you used to participate in before the occurrence of the accident. It’s difficult to determine the fair value for such damages.

Non-economic damages include pain and suffering. Generally, an insurer is likely to ask you to prove that your pain and suffering are up to the degree that you claim. Unlike medical bills, proving pain and suffering may require more than just receipts. For example, you will need to have official statements from medical professionals showing the costs of the ongoing treatment and an estimated recovery period.

This investigation is conducted to see whether you were actually hurt at work or are attempting to use the company's insurance policy to collect money.

Being investigated may seem like a complete invasion of privacy, but the investigation is completely legal in some states. You won't automatically be under investigation if you're injured at work, but in cases, your employer will hire someone to discreetly observe you if it is believed that you may be faking, exaggerating, or malingering your injury. Malingering refers to drawing out your healing time so you can receive additional benefits or avoid returning to work.

In some instances, the investigator can take your actions out of context and present the information to your employer to reduce your settlement amount. For example, if you hurt your back at work, the investigator may submit a photo of you playing catch with your children or picking up your baby. This will make it seem that you aren't really hurt and can still perform your normal work duties.

Tactics Implemented by Worker' Comp Investigators

Investigators will keep tabs on your actions through:

Investigators will often watch you when you're outside of your home and in a public space. Technically, since the investigator is not observing you when you're in a private location, the surveillance is legal.

This means the investigators can watch you while you're in your driveway or yard, at the grocery store or a shopping center, or when you're in a public park. Keep in mind that any time you're in a public area where others can see, the investigator is allowed to "see" you as well.

Being investigated may seem like a complete invasion of privacy, but the investigation is completely legal in some states.

More About Investigator Surveillance

The insurance company representing your place of work can also conduct online surveillance. This means the investigator may be watching to see what you post on social media or in chat rooms.

If you post anything that gives the impression that you are not truly injured, the investigator can take this evidence to the insurance company. Be careful about what you post, in written or video form, or avoid being on social media altogether until your worker's compensation case is settled.

Investigators may also speak with you in person without revealing their identity or talk to your family and friends. Be mindful of what you say about your work injury since investigators don't have to tell you if they're working on behalf of the insurance company.

The report submitted by the investigator will often be used as a form of evidence at your hearing. Investigators also submit the report to your doctor to verify your physical abilities when you're not at work. This could impact your physician's opinion about providing further treatment.

Does My Case Have to Be Investigated?

Generally, insurance companies may conduct surveillance if it is believed that:

While you may be offended at the idea of being watched, it's important to note that worker's compensation fraud does happen. So if your employer has any reason to suspect that you're trying to get more money than your case is worth, you'll be put under investigation.

[ymal]

Even if the case is new and you haven't given your company any reason to suspect fraud, your employer may still appoint an investigator to make sure your claims are legitimate.

Remember that insurance companies don't want to pay out for workers' compensation if they don't have to, and they certainly don't want to award funds to people who are not entitled to them. Workers' compensation fraud impacts the state system for accommodating employees who are truly injured and raises the cost of insurance. This is why companies take worker's comp fraud very seriously.

Are You Under Investigation?

Most of the time, you won't realise you're being watched. Private investigators are discreet, and again, they don't have to reveal their identities. However, there are some signs to look out for.

If you see a car outside of your home that you don't recognise or you realise you're being followed when you're traveling to a public area, you could be under surveillance. If your friends or relatives may have spoken with someone new, this could be a clue as well. Ask your loved ones if anyone has contacted them regarding your work injury.

Protect your rights as an injured worker with the help of a worker's compensation attorney. It's best to contact an attorney as soon as you can when you're injured on the job. Your lawyer will carefully investigate every detail of your case so you'll know exactly what you're entitled to in a settlement.

Goldman Sachs has been ordered to pay $2.9 billion in fees and penalties to settle charges over its involvement in the 1MDB scandal.

The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) announced late on Thursday that they would fine Goldman Sachs £97 million for its risk management failures connected to the scheme, forming part of a global settlement with regulators across the US, the UK, Hong Kong and Singapore.

The settlement includes the largest fine ever issued under corporate criminal bribery law.

The Department of Justice claimed that the bank ignored signs of fraud from some of its senior bankers in a scheme that saw the Malaysian economic development fund being defrauded out of around $2.7 billion.

Goldman Sachs had earned $600 million in fees for helping 1Malaysia Development Berhad raise over $6.5 billion to be invested in Malaysian energy development. Much of this money was looted, with over $2.7 billion diverted towards private purchases of luxury real estate, art, yachts, and in one instance to help finance the 2013 film “The Wolf of Wall Street”.

Authorities alleged that senior staff at Goldman Sachs were involved in the embezzlement, with at least one former banker involved in the case having pleaded guilty to charges. Goldman Sachs’ Malaysian branch agreed to a $3.9 billion settlement with Malaysian prosecutors in July, and on Thursday pleaded guilty to conspiring to violate US anti-bribery laws.

UK regulators focused on the bank’s alleged failure to adequately investigate signs of misconduct among its staff when they came to light. “When confronted with allegations of bribery and staff misconduct, the firm’s mishandling allowed severe misconduct to go unaddressed,” said Mark Steward, the FCA’s executive director of enforcement and market oversight, in a statement.

[ymal]

“There is no amnesty for firms that tackle financial crime poorly, and the size of GSI’s fine reflects that.”

Goldman Sachs CEO David Solomon addressed mismanagement at the bank in a statement on Thursday. “We recognise that we did not adequately address red flags and scrutinize the representations of certain members of the deal team, most notably Tim Leissner, and the outside parties as effectively as we should have,” he said.

To pay the fines levelled against it, the bank is seeking to clawback $76 million in compensation paid to former staff connected with the 1MDB case. In addition, its board is cutting long-term share deals for former executives and cutting current executives’ pay by $31 million.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram