According to a recent Mealey’s Litigation Report, the average mesothelioma trial award is estimated at $2.4 million. The average mesothelioma settlement is between $1 million and $1.4 million and typically paid by multiple defendants. However, no cases are alike.
Some mesothelioma settlements and verdicts have reached into the millions, but it’s not easy to estimate how much a person will receive prior to filing a claim. Compensation varies on claimant’s diagnosis, medical history, companies sued, where the claim is filed, proof of negligence and other factors.
History has shown that an overwhelming majority of cases end in a settlement before reaching the courtroom. But some cases do go to trial, where a judge or jury can make a verdict that awards significant compensatory and punitive damages.
Settlement and verdict amounts often are tied to the cost of medical expenses, physical and mental distress, lost wages and bills that accumulate as patients move forward with an asbestos-related illness. Of course, compensation also is linked to the strength of the case, which brings into play the plaintiff’s specific diagnosis and health condition, as well as the degree of perceived liability on the part of one or more defendants.
Exact settlement figures are usually considered private, and claimants often are bound by confidentiality agreements. However, settlement amounts tend to reach the public eye from time to time.
Factors That Affect Settlement Amounts
Anyone considering filing an asbestos-related lawsuit should understand what affects any settlement amount. Certain factors are more relevant than others as the defendant decides whether a settlement is warranted.
Aspects of a case that influence a settlement amount range from personal hardships to third-party liability. If evidence clearly shows that asbestos exposure negatively affected your life, in addition to having other documentation in order, you will have a better chance of a higher settlement. (Source)