A loss adjuster helps calculate damages for compensation in legal cases. They can analyze financial information, life expectancy tables, and industry-specific cases to determine economic losses. They also assist lawyers in preparing for cases and obtaining key information from opposing parties.
A loss adjuster is a person who has special knowledge and skills in calculating damages, such as money as compensation for a loss or injury. To recover damages, it is necessary for the plaintiff, i.e. the party bringing a claim, to prove the damage. Sometimes the amount or extent of damages is difficult to prove, so it becomes necessary for a plaintiff to hire a damages expert. A person qualified to testify as a damages adjuster, who may be an accountant, a physician, or someone with expertise in another specific field, can help determine the amount of money needed to compensate the plaintiff.
An attorney typically hires a damages expert to help analyze complex information. The expert will then provide testimony regarding this analysis. For example, you may need to review a company’s records to determine how much profit has been lost due to a company’s business interruption. The loss adjuster can analyze your financial information and tax records and calculate those losses. The expert can then testify in court about how he conducted the assessment and explain why the plaintiff is entitled to a certain amount of money. Similarly, an expert can look at life expectancy tables, income projections, and other factors to determine the economic losses for a person seriously injured in a car accident or other bodily injury.
A loss adjuster can also help a lawyer prepare for a case. The expert can assist an attorney by advising the attorney to request specific types of documentation from a counterparty during discovery. The discovery process is an opportunity for each party to a lawsuit to obtain information from the opposing party. An expert can help an attorney obtain key information from an opposing party and analyze that information to assess damages.
Economic research and damage assessment are sometimes required in industry-specific cases. For example, a credit reporting company could make a mistake by reporting false and inaccurate information about a specific consumer. This can result in the person suffering harm as a result of being denied credit. A credit damage adjuster can assist an attorney by providing specialized information about the extent of the damages in this type of case.
A loss adjuster can also assist in the assessment of personal injury damages. For example, if a professional pianist is in an automobile accident and sustains a hand injury, that person may be entitled to a larger amount in damages than a person with the same type of bodily injury who relies less on their hands to generate income to that extent. The expert can assess the amount of damages based on the working life of a professional pianist.
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