Economic Calculators
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If counsel or the insurer requires answers to hypothetical scenarios or assumptions, Brown Economics’s Income Damages Calculator (IDC) can be used to provide these results. The IDC draws on a vast database of wage and contingency data and follows legislation in each region according to deduction of income taxes, ICBs, and mandated real discount rates. It also permits unlimited “runs” on each file once the original calculation is completed and produces a report summarizing the inputs and year-by-year calculations.
Non-Pecuniary Damages
This calculator allows you to increase the expected amount of damages for pain and suffering by the rate of inflation since the plaintiff's injury occurred or the claim was filed. The rate of inflation is updated monthly for Canada and all provinces and territories.
Present Value Damages
Discounting reduces the lost future income stream to present value by removing the interest income that the plaintiff could earn through investment of the declining balance of the award after withdrawing annual compensation.
Working Life / Life Expectancy
This calculator estimates an individual's remaining years of working life expectancy and life expectancy, based on his or her current age, gender, and education level and Statistics Canada’s working life expectancy estimates and mortality tables for each region.
Housekeeping Damages
The HDC will provide a preliminary estimate of the plaintiff's/deceased's past and future potential loss of housekeeping capacity from his/her age at the date of incident to age 80. Replacement rates by region, along with key economic contingencies, are applied to generate the online loss estimates.
Income Damages
The IDC estimates the claimant's potential loss of income, from the date of incident to trial or mediation ("past loss") and from the date of valuation (mediation or trial) to retirement age ("future loss"). The IDC draws upon Brown Economic’s vast database of wages and contingencies from the most recent Statistics Canada’s Census, along with deducting income taxes (if required), adding pre-judgment interest at legislated rates, and reducing the sums to present value using the mandated real discount rates in each region.