Mesothelioma Settlements & Verdicts
Settlements and verdicts are two possible outcomes of mesothelioma lawsuits. Most end in agreements between victims and companies, known as settlements. On average, victims receive more than $1 million in settlements. If a settlement cannot be reached, the case may move on to trial. Victims who win at trial average $2.4 million in compensation.
Key Points
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Settlements help mesothelioma patients and their families pay for medical expenses.
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Money from mesothelioma settlements and verdicts is generally not taxable.
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Settlement amounts depend on various factors: exposure, diagnosis, expenses, etc.
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Mesothelioma lawyers generally do not receive payment unless they win your case.
A mesothelioma diagnosis often comes with a lot of costs – medical bills, travel expenses, lost wages and more. Money from lawsuits can help cover costs. Companies have paid billions in compensation to mesothelioma patients they exposed to asbestos.
Is There a Difference Between Mesothelioma Settlements & Verdicts?
Mesothelioma settlements and verdicts are both ways to receive compensation after filing a lawsuit. But they are not the same thing. The main difference is that a settlement is an agreement between a company and a victim. A verdict is a decision by a jury, made if parties do not settle and the case goes to trial. At trial, the jury decides in favor of either the company or victim.
Average Mesothelioma Settlements
According to recent reports, the average mesothelioma settlement amounts fall between $1 million and $1.4 million, with trial verdicts falling around $2.4 million. Although this is an average, actual compensation amounts of mesothelioma cases can vary greatly.
Understanding compensation options is often a determining factor for mesothelioma patients and their families as they consider a mesothelioma lawsuit. Ultimately, each case is going to be different, so average numerations aren’t applicable to everyone. However, they can provide an idea of what patients in the past have received for their pain and suffering.
For those trying to determine what their compensation might look like, there are factors to keep in mind that can greatly influence settlement amounts, including:
- Diagnosis and treatment costs
- Legal venue
- Lost income/expected income
- Mesothelioma diagnosis
- Place and duration of asbestos exposure
- Other related expenses
Mesothelioma Settlement Process
Asbestos lawsuits are complicated legal cases. The best idea is to seek out an experienced mesothelioma lawyer to better understand all of your options and discuss any questions you might have about the process.
Lawyers at mesothelioma law firms have experience working with patients and families. They can represent your best interests in court and negotiate settlements for your approval. The top firms also have records of getting compensation for their clients.
Reaching out to a lawyer soon after a diagnosis or loss of a family member can be hard. But receiving compensation can help pay expenses and allow you to focus on treatment and family.
Other Types of Mesothelioma Compensation
Aside from seeking a settlement or verdict, there may be other ways to seek compensation that asbestos disease victims and their loved ones can seek out.
It’s important to keep in mind that eligibility requirements vary based on the type of compensation. Patients should look into all options before deciding which mode of compensation to pursue, while also seeking help from a lawyer.