The average mesothelioma settlement is between $1 million and $1.4 million. The average mesothelioma trial verdict is $2.4 million.
Settlements from mesothelioma lawsuits provide victims guaranteed compensation that may be paid within a few months. Asbestos settlements are typically not taxable under federal tax laws.
Mesothelioma Award Statistics
- The average mesothelioma settlement amount is between $1 million and $1.4 million, according to recent reports.
- The average mesothelioma trial verdict award is around $2.4 million.
- The largest mesothelioma verdict amount recorded was $250 million.
Mesothelioma Settlement Amounts
Many patients or loved ones receive mesothelioma settlements of $1 million or more. A mesothelioma settlement is a potential outcome of a lawsuit.
A settlement is a private agreement where one party provides compensation to eliminate liability. Lawsuits may also result in a verdict if the case goes to trial.
A mesothelioma verdict is determined by the jury or judge and may result in a higher payout than a settlement.
Mesothelioma settlement amounts vary based on several factors. These settlements can help patients with compensation for their expenses and lost wages.
Average Mesothelioma Settlements
Average mesothelioma settlement amounts are between $1 million – $1.4 million according to recent data from Mealey’s Litigation Report. Settlement amounts vary depending on the individual case.
Reports show compensation amounts have been steadily increasing over the last several decades. In 2000, RAND Corporation estimated the average mesothelioma settlement to be around $900,000. In more recent years, settlement amounts may reach $1 million or more.
To learn about what you can expect when trying to pursue mesothelioma compensation, contact an asbestos lawyer.
Mesothelioma Settlement Examples
|STATE||DISEASE||OCCUPATION / EXPOSURE||AGE||~ MONIES TO DATE|
|CA||Mesothelioma||Plumber / Mechanic||53||~$13,100,000|
|IL||Mesothelioma||Pipefitter / Household||61||~$11,900,000|
|CA||Mesothelioma||Bystander / Army||66||~$11,750,000|
|MD||Mesothelioma||Hairdresser / Household||68||~$11,450,000|
|CA||Mesothelioma||Navy / Dry Wall Sprayer||49||~$9,500,000|
|PA||Mesothelioma||Household / Air Force||53||~$9,350,000|
|IL||Mesothelioma||Coast Guard / Engineer||63||~$8,800,000|
|CA||Mesothelioma||Maintenance / Construction||56||~$8,650,000|
|CA||Mesothelioma||Navy / Maintenance||56||~$8,570,000|
|NY||Mesothelioma||Navy Worker / Operating Engineer||61||~$6,900,000|
|NY||Mesothelioma||Navy Worker / Machinist||53||~$6,400,000|
|CA||Mesothelioma||Navy / Plant Worker||69||~$6,000,000|
|CA||Mesothelioma||Household / Technician||63||~$6,000,000|
|NY||Mesothelioma||Navy Worker / Plumber||67||~$5,875,000|
|CA||Mesothelioma||Lumber Yard Manager||42||~$5,200,000|
|TX||Mesothelioma||Navy / Mechanic||68||~$5,000,000|
|CA||Mesothelioma||Navy / Mechanic||60||~$4,800,000|
|IL||Mesothelioma||JM Plant Worker / Shipyard||51||~$4,600,000|
|IL||Mesothelioma||Navy / Mechanic||51||~$4,300,000|
|CA||Mesothelioma||Navy / Teacher||70||~$4,200,000|
|TX||Mesothelioma||Carpenter / Marine Corps||71||~$4,100,000|
|IL||Mesothelioma||Army / Engineer||64||~$4,100,000|
|TX||Mesothelioma||Coast Guard US / Shipyard||67||~$4,050,000|
|LA||Mesothelioma||Household / Office Worker||62||~$4,000,000|
|IL||Mesothelioma||Plant Worker / Household||59||~$3,900,000|
|CA||Mesothelioma||Navy / Nuclear Plant||62||~$3,800,000|
|NY||Mesothelioma||Carpenter / Trimmer / Mechanic||64||~$3,750,000|
|IL||Mesothelioma||Painter / Merchant Marine||79||~$3,500,000|
|NY||Mesothelioma||Household / Machine Operator||54||~$3,500,000|
|SC||Mesothelioma||Navy / Powerhouse||62||~$3,400,000|
|PA||Mesothelioma||Navy / Boilerman||54||~$3,400,000|
|NY||Mesothelioma||Pipe Organ Builder||71||~$3,300,000|
|NY||Mesothelioma||Plant Worker / Sales Worker||65||~$3,100,000|
6 Factors Affecting Settlement Amounts
Many variables determine a mesothelioma settlement offer. Mesothelioma attorneys can help patients understand which details may impact asbestos settlement amounts. Factors affecting settlement amounts include:
- Medical expenses and lost wages: Settlement offers often include enough money to cover medical bills and wages lost as a result of a patient’s diagnosis.
- Company negligence: Companies that knowingly exposed individuals to asbestos can face elevated financial liability. Asbestos companies previously found guilty of negligence may be more likely to settle quickly to avoid an expensive trial verdict.
- Exposure history: Long-term exposure to asbestos may increase a company’s liability and lead to increased compensation.
- Diagnosis and health history: Asbestos disease severity and other health factors may impact a settlement offer.
- The number of defendants: Individuals may be eligible to file a legal case against several companies. In the case of multiple defendants, each defendant has the right to settle a case or continue to trial.
- Jurisdiction: Different states have varying regulations. For instance, state laws may differ on requirements for evidence, statutes of limitations and award caps.
Other factors can impact award amounts. A mesothelioma lawyer can help asbestos victims understand these factors and how they may impact their case.
Mesothelioma Settlement Process
Mesothelioma settlements are part of the mesothelioma lawsuit process. The defendant and plaintiff may reach a settlement before or during a trial. However, if a mesothelioma settlement is not reached, the case can continue to trial.
Mesothelioma lawsuit settlements require a formal offer from the defendant. In order to reach a settlement, patients must first work with a lawyer to file a mesothelioma lawsuit.
After deciding to pursue legal action, your mesothelioma law firm will gather information to build your case.
Necessary Information for Your Mesothelioma Case…
- Medical records, including a diagnosis of mesothelioma
- Employment history, including any union membership and military service records
- Receipts and bills for expenses related to your illness, including travel to see specialists to obtain treatment for mesothelioma
An attorney experienced with filing asbestos lawsuits will work with you to identify your sources of asbestos exposure.
They can help you obtain the documents necessary for filing a lawsuit. Your attorney will use their professional knowledge and details about your exposure to make recommendations about the following:
- Venue: This refers to which district within the state to file your mesothelioma lawsuit in. The venue can be where you lived, worked or served in the military.
- Type of lawsuit: The two primary types of mesothelioma lawsuits are personal injury and wrongful death. Personal injury lawsuits pertain to patients filing on their own behalf. Wrongful death lawsuits pertain to loved ones filing on behalf of a deceased family member.
- Defendant: A plaintiff can file a mesothelioma lawsuit against one or multiple defendants. Defendants are the asbestos company or companies responsible for your exposure.
After determining these details, your lawyer will file the asbestos lawsuit. At any time after the lawsuit is filed, the defendant’s lawyer can present a settlement offer to your attorney. This can come before the case goes to trial or during the trial.
Your attorney will inform you of the offer. They will provide advice regarding the advantages and disadvantages of accepting the offer.
You may then accept or reject the offer. If you reject, the case will continue. The defendants may present another settlement offer at any time. Your lawyer can help negotiate settlements and advise you throughout the process.
Average Mesothelioma Settlement Time Frame
The amount of time necessary for a mesothelioma settlement offer varies greatly. Mesothelioma settlements may happen before a case goes to trial, during the trial, or during any appeals.
Once a settlement is reached, plaintiffs may receive compensation within months, although it may take longer.
It is common for plaintiffs and their lawyers to go through several rounds of settlement negotiation, which may extend the time frame. However, waiting for the most favorable offer often results in higher compensation amounts.
Are Mesothelioma Settlements Taxable?
In general, compensation from a mesothelioma settlement is not taxable. According to IRS tax code, compensation awarded in connection with a mesothelioma diagnosis is not taxed. For instance, lawsuit payouts for medical expenses are generally not taxable.
However, some types of payouts may be taxable. For instance, financial compensation for lost wages or punitive damages may be taxable.
An experienced mesothelioma attorney can help individuals navigate these questions.
Mesothelioma Settlements vs. Verdicts
Mesothelioma settlements and verdicts are two possible outcomes of filing a mesothelioma lawsuit.
A mesothelioma settlement is a private agreement between two parties, in which one party provides compensation to another to no longer be liable. In most cases, defendants present a low settlement offer at the start of the lawsuit. It’s up to the plaintiff to reject, accept or counteroffer. Once the settlement is accepted, it is legally binding and must be paid.
A mesothelioma verdict occurs when the case is taken to court. A jury or judge determines whether or not the asbestos company is responsible for the patient’s exposure and resulting diagnosis. The decision is legally binding, and if found responsible, a separate verdict will determine the amount of compensation.
Verdicts usually result in higher compensation amounts than settlements. In some cases, asbestos verdicts may include punitive damages. However, it’s possible the defendant will be found not liable, in which case no compensation will be granted.
Settlement offers often come before or during the trial. If the plaintiff and defendant are unable to reach a settlement, the trial will proceed before a court and reach a verdict.
In some cases, a settlement is reached after the verdict. One of the largest verdicts for a mesothelioma case was $250 million, but the plaintiff settled for less than $50 million afterward.
If the verdict favors the plaintiff, the judge or jury will award compensation. The amount can vary greatly from case to case. The court will take various details into account, including expenses, lost income and pain, and suffering.
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