Pranay Sethi Chart Form
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People also ask
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How do you calculate the amount of a claim?
The actual amount of claim is determined by the formula: Claim = Loss Suffered x Insured Value/Total Cost. The object of such an Average Clause is to limit the liability of the Insurance Company. Both the insurer and the insured then bear the loss in proportion to the covered and uncovered sum.
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What is the multiplier method for calculating compensation?
“The multiplier method involves the ascertainment of the loss of dependency or the multiplicand having regard to the circumstances of the case and capitalizing the multiplicand by an appropriate multiplier.
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What is the multiplier method of pain and suffering?
Under the multiplier method, a court calculates pain and suffering damages by multiplying economic damages (medical bills, lost wages, etc.) by a number between one and five to arrive at pain and suffering damages.
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