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NERA economists have experience consulting and testifying on a variety of product liability matters, including personal injury claims (e.g., exposure to salmonella, asbestos, or handguns), property damage claims (e.g., failure of hardboard siding), consumer class actions (e.g., allegations of predatory lending), and high profile product recalls (e.g., automotive vehicles.)
Through our extensive experience, we have developed proprietary resources, including claims databases and forecast programs. We have analyzed publicly available data, including data from the Consumer Product Safety Commission, National Highway Traffic Safety Administration, Healthcare Cost and Utilization Project, and the Federal Motor Carrier Safety Administration), have estimated the likelihood of recalls and, when a product recall occurs, we have modeled product failure rates and anticipated uptake rates. We have also compiled historical information on labor statistics and turnover in numerous occupations that allows us to estimate the potentially affected population in cases involving personal injury claims.
NERA experts have developed claim forecasting models, which rely on scientific analysis and behavioral economics. We project both the incidence of disease, type and severity of injury, or product failures and the likelihood that the injury or product defect will result in a claim being filed. We then value any projected claims. We have experience modeling both young torts (with limited data and uncertain filing patters) as well as more mature torts (in which filing and settlement trends may be more established).
In cases where losses are associated with marketable assets such as real estate (e.g., drywall litigation) or automobiles (e.g., major product recall litigation), it may be possible to quantify damage claims to estimate diminution in value claims. For example, diminution in value of recalled vehicles can be analyzed using data on vehicle demand. Event study and time series analysis techniques are also be useful to measure changes in historical blue book prices coincident with a recall. While the immediate impact of a recall may be evident from contemporaneous data, the historical experience of other recalls may provide evidence of a subsequent expected recovery in resale value. Econometric techniques can be used to measure the value to consumers of vehicle attributes, which may be useful to distinguish an effect of a correctable defect from the impact of a recall on corporate reputation or brand value.
NERA experts have an expertise in coding claim files and developing protocols to avoid errors or bias in coded data. Applying rigorous statistical techniques, we determine whether the coded sample is representative of the population and, if so, make observations about the characteristics of the population, e.g., types of product failures or claimed exposure.
In the area of asbestos alone, through our work for companies, insurers or acquirers, we have analyzed the claims data of more than 70 defendants and have been following trends in claim filings, settlements and dismissals both nationally and by state. We have studied the impact of claim filings on the likelihood of the passage of tort reforms, as well as the effect of such reforms on future filings and settlement values.
Our work encompasses a broad array of industry sectors and product lines, including:
Our work is used in a variety of contexts, including:
Name | Title | Location | Phone | |
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Lucy P. Allen | Senior Managing Director | New York City | +1 212 345 5913 | lucy.allen@nera.com |
Dr. Denise Neumann Martin | Senior Managing Director | Miami | +1 305 808 7880 | denise.martin@nera.com |
Dr. Stephanie Plancich | Managing Director | New York City | +1 212 345 7719 | stephanie.plancich@nera.com |
Mary Elizabeth C. Stern | Managing Director | White Plains, NY | +1 914 448 4054 | mary.elizabeth.stern@nera.com |
Janeen McIntosh | Senior Consultant | New York City | +1 212 345 1375 | janeen.mcintosh@nera.com |
Mark L. Berenblut | Affiliated Consultant |
Toronto
New York City London |
+1 416 868 7311
+1 917 475 0020 +44 20 3769 1096 |
mark.berenblut.affiliate@nera.com |
Title | Date | |||
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Asbestos Litigation Risks: How Recent Changes in Asbestos Landscape May Affect Your R... | 14 March 2019 | |||
2017 Women in Litigation Joint Conference | 15 November 2017 | |||
Product Liability for 2014 and Beyond | 29 September 2014 | |||
China Product Recalls: What's at Stake and What's Next | 14 November 2007 | |||
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Title | Date | Type | ||
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NERA Economic Consulting Announces Senior-Level Promotions | 28 July 2022 | Press Release | ||
NERA Experts Promoted to Managing Director and Director | 15 February 2022 | Press Release | ||
NERA Economic Consulting Announces Senior-Level Promotions | 23 February 2021 | Press Release | ||
NERA Economic Consulting Opens Office in Miami, Florida | 14 November 2017 | Press Release | ||
NERA Economic Consulting Recognized in Who’s Who Legal: Consulting Experts Guide | 06 October 2016 | Press Release | ||
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