Victims who sustain personal injury in an accident, such as a traffic accident or an industrial accident, often have to deal with major financial losses. The greatest damage is usually the loss of the opportunity to work, resulting in a loss of income. Correctly determining the loss of income is in many cases quite complex. It is important that all damage is actually included in the calculation. A specialized personal injury lawyer can help you with this.
Loss of income due to incapacity for work, also known as loss of earning capacity, occurs when the victim is temporarily or permanently and wholly or partially incapacitated for work due to an accident. As a result, victims lose income immediately after the accident or over time. The damage can be significant. It is often even the largest item of damage in a personal injury case. If someone else is responsible for the accident, the damage must be fully compensated by the liable party.
Determination of loss of earning power
Sometimes an accident has an immediate financial impact on income from work, for example for independent entrepreneurs such as freelancers. If an employee is unable to work or is unable to work due to illness or an accident, the fall in income usually only occurs two years after the accident. Because the amount of the loss of earning capacity depends on the personal circumstances of the victim, a tailor-made calculation must be made.
The amount of the loss of earning power is determined by looking at a hypothetical scenario in which no accident has occurred. If the accident had not happened, what is the current and future income of the victim? In doing so, we look at aspects such as education, career development, ambitions and talents of the victim and available opportunities on the labor market. We determine the damage by comparing the hypothetical earning capacity with the actual income development of the victim.
Engage a specialized lawyer
Careful assessment of personal injury claims, including loss of earning power, is important for victims. After all, victims need appropriate compensation to prevent financial problems in the longer term.
By enlisting the help of a lawyer who specializes in personal injury, victims can rest assured that the damage will be assessed correctly and carefully.