Periodical Payment Expert Advice & Analysis
Mutual Financial Personal Injury Consultants are experts in the consideration of Periodical Payments for use in the settlement of Personal Injury and Clinical Negligence claims.
Periodical Payments have been at the forefront of practitioners minds since the Courts Act made them a serious option for settlement. Until recently, their suitability was often in doubt on the grounds of insufficient indexation, which did not match the heads of claim that make up future losses. However, this has now changed.
The recent indexation cases (most notably Thompstone) have put Periodical Payments back on the agenda for claimant and defendant alike. The ability to link periodical payments to the earnings related index (ASHE) rather than the old method of using RPI has transformed what was a largely ignored option to one which is increasingly becoming a common method of providing at least a partial settlement.
The claimants preference based on what has already happened with regard to interim payments and their future expectations plays a crucial part in assessing whether this is a suitable option to take. We have noted the recent trend towards simply treating the subject as a purely mathematical exercise, utilising the standardised techniques of top down/bottom up analysis. Whilst this analysis is essential, our approach is to first talk the issues through with the claimant and the solicitor, discussing the advantages and disadvantages of both forms of settlement so that a fully informed decision can be made and one that is most suites to the individual's own, personal circumstances.
We offer a comprehensive service to claimant solicitors which includes
- Expert advice comparing settlement by Periodical Payment to settlement by Lump Sum or an element of each
- Consultation with both the claimant and solicitor regarding the advantages and disadvantages given their specific circumstances.
- Attending settlement meetings to provide "live" offer valuations
- Advice on entitlement to State benefits and Local Authority entitlement
- Part 36 strategy recommendations
- The provision of expert advice at trial
- Advice on the preparation of supporting documents (client statement, advice on the wording of the order)
- The production of an expert report which recommends the appropriate settlement option
The analysis we undertake in every case is very technical as it relies on a detailed mathematical analysis of the claim for future losses. We understand that this advice often needs to be produced on a short turnaround basis and we are well resourced to cater for the tight deadlines that litigation demands.
