The NY 50B General Liability Award and Valuation Tools were established to help plaintiffs' attorneys and their financial advisors

• To fairly and completely calculate General Liability awards,
• To allocate Award elements between past and future damages,
• To adjust Lost or Impaired Earnings Awards for taxes, if employed
• To adjust Award elements for Collateral Source Offsets,
• To generate initial monthly payments for each element of future loss
• To value the future damage elements by applying appropriate discount rates,
• To apply expenses and fees to arrive at Net Valued Awards and initial monthly payments for each element, and
• To apply interest and second level discounting in line with Court decisions.

The overall objective is to provide a method for full, fair and speedy settlement or resolution of a case through a process that yields a full evaluation, and test alternatives, adjustments and alternate rates in real time. This write-up is provided to inform the attorney about how Awards and Valuations are developed, and, where appropriate, the rationale.

We perform the tasks of Award and Valuation development, and produce initial Awards and Valuations. This is done in conjunction with and at the direction of plaintiffs' attorney. In addition, we perform any updates as requested and the testing of alternatives as directed. We provide reports as needed and data files that incorporate updates. We maintain confidentiality and treat all information as the attorney's work product.

The attorney can access the reports sections using the files provided, and produce reports, adjust variables, and reflect those changes in refined reports and comparisons. An attorney can access the report and adjustment tools from the internet, operate the tools on his/her computer and store data files on that computer. The work product is protected to the same level as other data on the user's own computer.

The attorney can access the reports sections using the files provided and produce reports adjust variables, and reflect those changes in refined reports and comparisons.

• The array of reports that provide
• Summary Valuations
• Provide a detailed reconciliation of Award elements to the Net Valuations, including a cash summary
• Monthly and Annual payment schedules, and Annual Discount values by element
• The array of variables that can be adjusted
• Selection of Treasury Index rates, including Auction rates and yields, past monthly rates and yields, New rates, and Average, weighted Average and updated average rates and yields. The details of the rates and yields, together with the calculations of averages can be printed in certificate format
• Adjustment of the first payment date (Unless otherwise specified in the verdict, the first payment date is the date of the verdict or -0- days from the current date.)
• Adjustment of any taxes applied against lost or impaired earnings.
• Inclusion/exclusion of Collateral Source Offsets or any tax benefits associated with them
• Adjustment to Collateral Source Offsets for application of expenses and fees

The impact can be shown on summaries and in side-by-side comparisons. If the adjustments are applied the reconciliation and payment schedules will reflect the changes.

Detailed system information is provided to assist the user in choosing alternatives to employ in valuing an Award, the bases for choosing alternatives and the impact that those choices will produce.