TCL Economic Valuation Experts
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The 2007-2009 mortality table will increase Loss-of-Income valuations by a small amount and will increase Future-Cost-of-Care valuations by 1% to 7%.
Articles for Personal Injury Firms
After considering all the factors which can increase or decrease the valuation results and to be fair to all the parties involved in personal injury litigation, we propose that the total loss amount for a personal injury litigation case should be calculated by setting the Valuation Date equal to the Mediation Date and by ending the past loss claim as of that date.
Excerpt from the ruling of The Hon. Mr. Justice M. Edwards in Hamfler v. Mink, ONSC 3331
"If counsel wants the court to assess these types of charges then counsel must put before the court what these charges were for and how the amount has been calculated. At the very least there should be information about the time spent and hourly rates."
Including the impact of mortality, the 2013 discount rates will increase Loss-of-Income-of-Income valuations by 0% to 7%. The longer the loss period, the greater the % change in present value.
Canadians are delaying retirement, especially those working in the private sector. Therefore, for the purpose of loss of income scenarios, we can start assuming that plaintiffs:
• will retire gradually over a five to ten year time span
• will work their career jobs up to age 65
• may pick up part-time/freelance jobs from age 65 to age 70