i-law

Liability Risk and Insurance

First family to accept federal com-pensation

The unnamed family of a financial services worker in his 20s has accepted US$1.4mn from the federal Victim Compensation Fund. This was calculated taking account of his earning potential based on his salary of US$60,000 a year at time of death. The resultant US$1.19mn award for lost economic potential and the family’s pain and suffering was reduced by US$150,000 to take account of life insurance and workers compensation benefits.

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