- How are lost wages calculated in a personal injury case?
Our Hamilton Personal Injury Lawyers take a comprehensive approach to ensure every lost cent is accounted for. We begin by gathering and reviewing a wide range of documentation, including:
- Productions (pay stubs, timesheets, employment contracts)
- Employment files
- CRA returns
- Union files
- Extended benefits files
- Other relevant materials
This thorough examination of your employment history, earning potential, and entitled benefits or compensation provides a complete understanding of your financial situation.
To determine the full extent of your lost wages, our lawyers collaborate with an actuary, a professional who specializes in using mathematical and statistical methods to assess financial risk and uncertainty. The actuary analyzes your:
- Employment history
- Education
- Other factors to project your career path and earning potential had the injury not occurred
They then compare this projection to your actual earnings since the injury, considering:
- Time missed from work due to medical treatment, recovery, or disability
- Inflation
- Potential promotions
- Market value of your skills and experience
The actuary calculates the total amount of wages lost due to your injury and any future income you may lose if your injuries have a long-term impact on your earning capacity. This meticulous process ensures every lost cent is included in your claim, helping us build a strong case to negotiate a settlement that fully compensates you for lost income and other damages.
By working with our experienced Hamilton personal injury lawyers and skilled actuaries, you can trust that your lost wages will be accurately calculated and vigorously pursued in your personal injury case.