Sunday, May 26, 2019

Roundup

A grounds keeper in California was awarded $289 million dollars later reduced to $85 million because he got cancer by using the weed killer Roundup. In insurance claims the loss is based on a persons earnings and their age. A calculation is made about the future loss of income and payment is made accordingly. There is another part to the law suit called punitive damages and that is to punish the company so as to deter such actions in the future. More than $80 million of this award was punitive. The companies insurance covered most of this loss but that money will be recouped by raising rates and all other companies will be charged. They in tern will have less money for other expenses, things like business expansion and salary increases. After the lawyers take their cut the victim will receive about $50 million.

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