WAC 284-24D-362. What process must a person use to estimate economic damages?

If a reporting entity makes indemnity payments to a claimant that include compensation for future economic damages, the person calculating damages must use the principles listed in this section. (1) Where appropriate, the person estimating economic damages must: (a) Project the elements of loss listed in WAC 284-24D-360 : (i) For the duration of the injury or disability; or (ii) In the event of death, for the anticipated life span of the injured person; and (b) Discount damages to present value; (c) Consider related factors, such as: (i) Issues of negligence and liability; (ii) The relative strength of the defense; and (iii) The component of the claim payment driven by economic damages. (2) Reporting entities must select reasonable discount factors when estimating economic damages.