What is the average settlement amount for a catastrophic injury case?

The average settlement amount for a catastrophic injury case can vary widely depending on the specific case and the amount of damages awarded. In New Mexico, the court will typically use a formula to determine the settlement amount for a catastrophic injury case. This formula involves calculating the total economic damages the injured party has suffered as well as the non-economic damages such as pain and suffering. When determining the total damages, the amount of medical bills, lost wages, and future care and assistance for the injured party will be considered. Once the damages have been calculated, the court will apply a multiplier to come up with the total settlement amount. This multiplier is usually between 1 and 5, depending on the severity of the injury and the amount of evidence presented in court. The exact settlement amount will depend on the specific facts of the case and may also include punitive damages, depending on the situation. Because of the complexity of these types of cases, it is difficult to determine an exact average settlement amount. However, it is possible for the injured party to receive a settlement in the hundreds of thousands or even millions of dollars. Ultimately, consulting an experienced catastrophic injury attorney in New Mexico is important for understanding the potential value of the case and receiving a fair settlement.

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What is the average settlement amount for a catastrophic injury case?

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