There are three types of compensations for mesothelioma victims: settlements, trial verdicts, and bankruptcy trust funds. If you want to know more about these compensations, you should read on. Below, we explain each of these compensations in brief.
SettlementsThe first type of compensation is the settlements. Settlements are where the defendant gives a sum of money to the plaintiff, rather than continuing with the trial that may be too costly and risky for them.
Most mesothelioma lawyers are paid on a contingency basis. Meaning, they will only get paid if they win the case and the claims are successful. On the other hand, the lawyers of the defendants are typically paid on an hourly rate which doesn’t depend on the outcome of the trial. As such, if the trial is perceived as too costly and risky by the defendant, they are likely to negotiate for settlements.
Trial VerdictsNot all of the defendants will give up and negotiate for settlements. There are defendants who go to trial until it is finished. The jury will decide whether the defendant is liable or not. In such a case, if the defendant is ruled liable and the plaintiff wins the case, they will receive compensation based on the trial verdicts.
There is no fixed amount of compensation based on trial verdicts. This is because each mesothelioma case is considered unique. With each case considered unique, there is no a set guideline for the compensation. The amount of compensation will be based on many factors, including the case itself, lost income and medical expenses.