- Title
- An investigation into the validity of life tables used for the calculation of personal injury damages
- Creator
- Forshaw, Timothy James
- Subject
- Torts -- South Africa
- Subject
- Damages -- South Africa
- Subject
- Damages -- South Africa -- Accounting
- Subject
- Mortality -- Tables
- Subject
- Personal injuries -- South Africa
- Date
- 2006
- Type
- Thesis
- Type
- Masters
- Type
- MCom
- Identifier
- vital:1077
- Identifier
- http://hdl.handle.net/10962/d1008371
- Identifier
- Torts -- South Africa
- Identifier
- Damages -- South Africa
- Identifier
- Damages -- South Africa -- Accounting
- Identifier
- Mortality -- Tables
- Identifier
- Personal injuries -- South Africa
- Description
- Currently in South Africa when an individual is injured due to the acts of another they may claim damages for the losses which they may incur. These can be claimed from a variety of institutions, such as the Road Accident Fund, Workmen's compensation or an individual's private insurance. In all the afore-mentioned cases the calculation of damages are along the same lines, whereby the damages are quantified first, and thereafter reduced to reflect future possibilities that may occur. Traditionally future losses are reduced to reflect the possibility that the claimant may die at an age prior to the loss being incurred. To account for this risk awards for future losses are reduced using standard South African mortality tables. The set of tables currently being used were calculated from the 1985 South African census, and as such encapsulate the mortality of the population at that period. When the tables were calculated no reliable statistics were available for the Black population the result is that the tables currently being used do not contain a sample of the majority of the population. The thesis first examines, in detail, the calculation methods used to arrive at the value for damages to be awarded using the current set of life tables. Thereafter an analysis is conducted looking at differences between racial groups in the country and geographic locations, in order to uncover the mortality differences between groups to confirm or disprove the proposition that the exclusion of the Black population results in lower levels of mortality being reflected in the South African 1984-1986 life tables. This is accompanied by a review of mortality trenps in South African since 1986. Following from the findings of the expected increase in mortality since 1986, alternative life tables shall be used to show what impact these would have on the calculation of damages. Due to the fact that none of the alternatives return satisfactory results, structured settlements shall be reviewed to illustrate how the shortcomings of the lump sum approach can be circumvented, and altogether avoid the problems of out dated life tables being used as a basis for damage calculations.
- Description
- KMBT_363
- Description
- Adobe Acrobat 9.54 Paper Capture Plug-in
- Format
- 98 p., pdf
- Publisher
- Rhodes University, Faculty of Commerce, Economics and Economic History
- Language
- English
- Rights
- Forshaw, Timothy James
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details | SOURCEPDF | 10 MB | Adobe Acrobat PDF | View Details |