Future Loss in Practice: Periodical Payments and Lump Sums

The new periodical payments regime is one of the most important reforms to personal injury practice of the past decade. The Government is determined that its use will be widespread. The courts now have the power to impose periodical payments orders for future losses, either in addition to or in substitution for lump sum compensatory awards. The reform has profound financial implications for claimants and compensators alike. Every advisor must be fully appraised to avoid giving negligent advice, and this book offers the first comprehensive treatment of the subject with a detailed analysis of the implications from both sides of the ‘litigation fence’. This handy text provides: * A resumé of the basic tenets of compensatory awards * Consideration of the conventional lump sum mechanism * Detailed analysis of the reform itself * Commentary on the indexation issues in Flora, Thompstone, and Corbett; and also on the Sowden, Crookdake and Crofton appeals with respect to care provision and local authority input * Analysis of the procedure and practice of periodical payments; tactical merits and demerits * Helpful case study illustrations of when periodical payments are appropriate, judged against taxation, benefits and funding considerations * A useful final chapter offering a tactical appraisal, examining different areas of potential risk and suggesting practical solutions for claimants and compensators alike to limit their risk exposure * Full appendices including, specimen pleadings, orders, statutory materials and authorities * Judicial comment from Langstaff J and Master Lush The book is an essential handbook for periodical payments. It provides expert practical advice specifically tailored to the needs of the judiciary, lawyers, financial advisors and compensators alike.

Table of Contents:
1. Introduction; 2. The evolution of periodical payments; 3. Future loss - an overview; 4. Lump sum awards; 5. Periodical payments; 6. Indexation; 7. Variable orders and agreements; 8. Protecting the payments; 9. Drafting and pleading points; 10. Alternative investment vehicles; 11. Investing lump sum damages awards; 12. Funding periodical payments orders; 13. State benefits, personal injury trusts and taxation issues; 14. Local authority provision; 15. Clinical negligence and catastrophic injury claims; 16. The role of the expert; 17. Procedural matters and periodical payments in practice; 18. A tactical appraisal of periodical payments; Appendix 1 - Primary legislation; Appendix 2 - Secondary legislation; Appendix 3 - Guidance; Appendix 4 - Case Reports; Appendix 5 - Drafting; Appendix 6 - Indexation/Inflationary indexes; Appendix 7 - Ogden Tables 2007; Index