How Workplace Accident Settlements Are Calculated in NY

According to the U.S. Bureau of Labor Statistics, 138,900 non-fatal workplace injuries and 83 fatal injuries were recorded in New York in 2022. With construction being the most dangerous profession, workers in the Big Apple face serious risks every day just to make ends meet.

Fortunately, there are laws that protect injured workers. When accidents occur, affected parties can pursue workers' compensation to cover medical bills, lost wages, and other damages. However, the path to financial recovery can be challenging, making legal representation incredibly crucial.

The Law Office of Carl Maltese has helped injured workers navigate the complex legal waters since 1966. Our workers' compensation attorneys have recovered millions of dollars in damages and are ready to get you the justice and compensation you deserve. We can consult on how dog bite settlements are calculated in NY as well.

Those who have suffered serious injuries during work in Long Island, New York, should contact us to discuss their case and learn more about their legal options.

Understanding Workers' Compensation in New York

Workers' compensation is mandatory for most businesses in New York. This form of insurance, provided by employers, offers financial protection to employees in the event of a workplace accident.

Business owners also benefit from providing workers' compensation, as it offers legal protection against lawsuits arising from workplace accidents. Employees who accept compensation through this system waive their right to sue their employer.

While workers' compensation may appear to protect both parties from financial liability in the event of workplace accidents, injured workers often face significant hurdles when seeking compensation. If they are unaware of their rights, insurance companies may pressure them into accepting lower settlements or even deny their claims outright.

Whether it's a workplace slip-and-fall incident or a construction accident claim, an experienced personal injury attorney can help injured victims overcome the barriers to seeking a fair settlement.

How Workplace Accident Settlements Are Calculated in NY

The workers' compensation system in New York uses complex formulas that take into consideration many factors when calculating the affected party's compensation. These include the following:

Medical Expenses

When a workplace accident causes injuries, the worker's compensation covers all of the injured victim's medical expenses as long as they are reasonable and necessary to ensure full recovery. It may include hospital bills, surgery costs, prescription medications, and physical therapy fees, among other expenses.

There are several factors that affect the amount of medical expenses affected parties can recover following a workplace accident in New York. These include the following:

• The severity of the workplace injuries or multiple serious injuries

• The nature of the injury sustained

• The extent of disability

• The need for ongoing medical care and treatment

  
  

Sometimes, a workplace accident may result in injuries that require constant medical care and treatment. Injured workers must reach out to experts to determine future medical costs and ensure they receive a fair settlement.

Although New York's workers' compensation law protects the rights of injured workers, insurance companies often dispute claims, arguing that certain medical treatments or procedures are unnecessary or unreasonable. This is why injured workers should seek experienced legal representation to advocate for their rights and increase their chances of making a financial recovery.

Lost Wages

Whether it's a slip-and-fall incident at a factory or a construction accident, injuries can make it difficult for workers to return to work until they fully recover. In cases of permanent disability, the affected employee may never be able to resume employment, adversely impacting their financial situation.

Fortunately, the workers' compensation law in New York lets injured victims seek lost wages. These are cash benefits that are around two-thirds of the worker's average weekly wage, compensating the affected parties for the loss of earnings during their recovery period.

Here is an example to illustrate how insurance companies calculate lost wages:

John has an average weekly wage of $500 per week, but a construction accident at the workplace leads to a permanent disability, forcing him out of employment. He decides to file a construction accident claim with his employer to seek damages.

In the above example, John may receive up to $333.33 each week, which is two-thirds of his average weekly wage. If his disability is at 50%, he may only get around $166.67 weekly.

Although the workers' compensation law allows injured victims to recover two-thirds of their average weekly wage for lost wages, New York places a cap on the maximum benefit amount, which is adjusted every year.

In addition to that, insurers might dig out reasons to reduce payout. This makes it incredibly important for affected parties to partner with an experienced attorney and make a counteroffer.  

Disability Benefits

When workplace accidents lead to permanent disability, injured workers have the right to seek disability benefits, which are often based on a schedule or the loss of earning capacity.

Death Benefits

Sometimes, a workplace accident could lead to fatalities. When that happens, the workers' compensation system pays for the funeral expenses and covers the weekly death benefits of the surviving family members. However, there is a limit to how much survivors can recover in the state of New York.

The Structure of the Settlement

Whether it's a workplace slip-and-fall incident or a construction accident settlement, workers may have the option to choose a lump sum payment over structured payouts. This type of arrangement is referred to as a section 32 settlement and may benefit both parties.

Choosing a lump sum payment over a structured settlement can be a hassle-free experience for the injured worker, as they don't have to fight with the insurance company over every single medical expense incurred. They receive a large payment, which they can put towards covering their hospital bills or paying for their dream vacation.

On the other hand, choosing a lump sum settlement means foregoing weekly payments and other workers' compensation benefits. An experienced personal injury attorney can help determine the best option and negotiate a higher payout.

Third-party Claims

While workers' compensation may cover some of the damages incurred by the injured worker, it may not be enough to make them "whole" again. There are a lot of restrictions on the amount individuals can recover under this system, which is why the affected party may want to consider other legal options to ensure maximum compensation.

Injured workers may be able to bring a personal injury claim or lawsuit against the liable individual or entity when a workplace accident occurs due to the negligence of someone other than the employer. A civil action lets affected parties seek losses, such as pain and suffering damages, that are not covered under the workers' compensation system.

What Is the Average Workplace Accident Settlement in New York?

Since construction accidents are the most common workplace accidents in New York, understanding how much an injured worker can recover after an incident is essential. This knowledge helps them set realistic expectations and equips them with the information needed to challenge insurance companies and their attempts to offer low settlements.

That said, there is no such thing as an average construction accident settlement, as most of these arrangements are confidential and happen outside of courts. The amount the injured construction workers are eligible to recover varies from one case to another, as it depends on many factors, some of which include the following:

• The severity of the injuries sustained

• The length of the recovery period

• The possibility of a third-party claim

  
  

Injured workers need to understand that the only way they can determine the compensation they can recover following their workplace accident is by working with an experienced attorney. A skilled workers' compensation lawyer will assess the facts surrounding the affected party's case and handle the settlement negotiations accordingly, ensuring maximum payout. For more information, a Long Island personal injury lawyer may be able to help.

Injured Workers Should Work with Reputable Workers' Compensation Attorneys to Ensure Just Compensation

While it may seem easy for injured workers to file a workers' compensation claim, recovering money from the insurance company is far from challenging. Insurers work to protect their shareholder's bottom line, which means that they will try to use every dirty tactic in the book to minimize payouts.

Tackling these obstacles alone can be stressful, especially if the affected party is still recovering from their injuries. Injured victims need to seek legal representation to have a fighting chance in securing fair compensation.

Another major benefit of working with a skilled personal injury attorney is that they can help the affected parties understand the limits imposed by the law and guide them on the other options they may have to ensure maximum settlement.

An experienced workers' compensation lawyer can also help expedite the legal process by ensuring compliance, allowing the injured victim to receive compensation as soon as possible. They can also provide details on how wrongful death settlements are calculated in NY.

The Law Office of Carl Maltese Provides Free Consultation to Injured Workers in New York!

Whether it's a crushing incident at work or an accident at a construction site, workers' compensation benefits can bring financial stability, enabling you to move forward with your life.

However, navigating the intricacies of the legal system can be daunting. Fortunately, you can rely on The Law Office of Carl Maltese, as we have the skills, expertise, and resources to build a strong case and help you get fair compensation.

If you've suffered workplace injuries in Long Island, New York, call to schedule a free consultation with an experienced attorney to learn more about your legal rights.