Wash. Admin. Code § 284-24D-362 - What process must a person use to estimate economic damages?

If a reporting entity makes indemnity payments to a claimant that include compensation for future economic damages, the person calculating damages must use the principles listed in this section.

(1) Where appropriate, the person estimating economic damages must:
(a) Project the elements of loss listed in WAC 284-24D-360:
(i) For the duration of the injury or disability; or
(ii) In the event of death, for the anticipated life span of the injured person; and
(b) Discount damages to present value;
(c) Consider related factors, such as:
(i) Issues of negligence and liability;
(ii) The relative strength of the defense; and
(iii) The component of the claim payment driven by economic damages.
(2) Reporting entities must select reasonable discount factors when estimating economic damages.

Notes

Wash. Admin. Code § 284-24D-362

Statutory Authority: RCW 48.02.060, 48.140.060, and 7.70.140. 07-12-057 (Matter No. R 2006-02), § 284-24D-362, filed 6/4/07, effective 7/22/07.

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