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Loss of Income – Motor Vehicle Accident

Loss of Income – Motor Vehicle Accident

Our firm was retained by an insurance defense law firm to prepare an income loss report for an individual who was involved in a motor vehicle accident.  The plaintiff sued the municipality where the accident occurred claiming that the signage identifying the conditions of the road was inadequate.

Our role was to prepare an independent income loss report and provide our comments on the report prepared by the plaintiff’s forensic accounting expert.  We were able to prepare a variety of income loss scenarios based on various contingencies.  One of the main points of difference between the plaintiff and defense forensic accounting reports was the application of discount rates.  A senior partner testified on behalf of the defense and was able to explain the reasoning behind our approach and methodology to the discount rates.  The judge ruled in favour of the defense’s interpretation of the rules and awarded an amount significantly less than the plaintiff’s claim.

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