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peter petterson
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Money & Finance > Insurance > No Faults Compensation Funds Set Up ...

  No Faults Compensation Funds Set Up ...

New Zealand set up a no fault Accident Compensation Commission fund in 1974 which absorbed the previous Workers Compensation Scheme.In exchange for all medical bills being paid on the production of a claim through general practitioners or emergency medical staff, and weekly compensation payments being made of at least 80% of income. The first week's payment is be made by the employer, usually at 100% of income.

Ther is no set limit of compensation, but rehabilitation of beneficiaries becomes a priority once basic injuries have healed. Beneficiaries cannot sue for damages under this scheme.

A recent Web Release: < a href =" http:// www.nycourts.gov/ reporter/ slips/ 16597.html " >" simmons jannace & stagg"< / a >

After Sept 11, 2001, the Sept 11 Victims Compensation Fund was created for those who lost love ones in the attack.The fund is a no faults system designed to maximise compensation to the families of victims. Contingency fees by attorneys representing families were disfavored.

Against this background, Simmons, Jannace& Stagg was asked by a widow of a man to represent her in connection with the lawsuit filed in the Federal Court by the attorney who represented her before the Victims Compensation Fund. The attorney sought $2,000,000.

There are similarities between the two above schemes in that they are both no-fault schemes. However the New Zealand Accident Compensation Corporation scheme differs in that beneficiaries cannot sue!


posted on Sept 7, 2007 7:30 PM ()

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