Forensic Economics Expert Evaluates Loss of Income Following Death of CEO

ByJoseph O'Neill

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Updated onApril 11, 2018

Forensic Economics Expert Evaluates Loss of Income Following Death of CEO

This case involves a patient – the CEO of an agricultural chemicals company – who being treated for metastatic cancer that had been in remission for some time. He was seen several times by an oncologist who failed to detect the emergence of a new tumor despite regular testing and visualization of the mass on imaging studies. The patient was ultimately killed by his cancer at a fairly young age, and his company suffered significant issues as a result of his death. A forensic economist was requested to review the matter and opine on the loss of income for the company and the individual that resulted from the patient’s illness and death.

Question(s) For Expert Witness

1. Have you previously conducted loss of income calculations for a wrongful death case? If so, please describe, especially if there were similarities to the case at hand.

2. What methodologies or materials would you use in your calculation?

Expert Witness Response E-136560

inline imageIn my career, I have performed over a thousand calculations to determine lost income for both individuals and corporations (litigated matters and non-litigated). In regard to this matter, I have calculated damages with respect to wrongful death matters many times, and have several I am working at the present time. These matters result from workplace injuries, professional negligence, product liability matters, to fatal auto accidents. The materials needed would consist primarily of work history of the decedent, salary information, education level, dependent information and background information regarding lifestyles, expenses and the like. On average, I review approximately 100 matters per year. Many of these are in a consulting role for insurance company liability adjusters and attorneys, as most matters these days do not go to trial due to the costs involved or expanded availability of ADR proceedings.

About the author

Joseph O'Neill

Joseph O'Neill

Joe has extensive experience in online journalism and technical writing across a range of legal topics, including personal injury, meidcal malpractice, mass torts, consumer litigation, commercial litigation, and more. Joe spent close to six years working at Expert Institute, finishing up his role here as Director of Marketing. He has considerable knowledge across an array of legal topics pertaining to expert witnesses. Currently, Joe servces as Owner and Demand Generation Consultant at LightSail Consulting.

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