In the last six years we have participated in more than 200 cases of claims of property damage derived from traffic accidents, but also in other environments such as air accidents, railways, or accidents at work.
Most of the time our advice is already requested in the judicial phase by one of the parties, but it is also common our participation in previous negotiations, with the aim of avoiding the judicial procedure, or even from the occurrence of the claim, in order to provide the insurance company with useful information to elaborate its motivated offer.
Our experience in recent years has been very positive for our clients, in the sense that in 95% of the cases in which we have participated our report was appreciated and taken into account when passing sentence.
The property damage that we have been quantifying are mainly emergent damages (future expenses that will be incurred as a result of the accident) and loss of profit (net profit reduction caused by the accident), both caused to natural and legal people.
In this sense, the law 35/2015, of reform of the system of valuation of the damages caused to the people in traffic accidents, introduces among other novelties the application of actuarial methodology for the determination of the compensations by Loss of profit or consequential damage (Actuarial technical Basis of the scale), attached in its Annex, some tables of reference which already contain the compensations to be applied by both concepts. However, there are situations in which these tables are not applicable, requiring an individual actuarial valuation on the property damage actually suffered:
For loss of Profit:
All those in which the public pensions received by the victim are different from those which were taken into account in determining the compensation of the tables, in particular those victims who did not contribute to the General Regime, such as the self-employed, or Contributors to alternative systems to the Social Security.
When the victim’s net income exceeds 120,000 euros.
When the deceased maintained a non-registered partner relationship.
When the injured person is a legal entity.
For emergent damage
Where the public benefits it perceives under the Dependency Act are different from those taken into account in determining the compensation of the tables, a situation that will occur in the vast majority of cases.
At Meco Actuaries, we offer our clients our specialisation in this new normative framework, to carry out the actuarial valuations of these patrimonial damages, as well as to develop internal training programmes in the area of insurance claims processing.