In this episode, J. Marshall Rice from Rice & Kendig law firm in Shreveport, Louisiana, joins us to break down the core components used in Louisiana, distinguishing between financial economic damages (medical bills, lost wages) and subjective non-economic damages (pain and suffering). We also explain how non-economic losses are valued, the state’s modified fault rule, and other unique Louisiana-specific factors that determine your final settlement amount. J. Marshall Rice is a personal injury trial attorney known for obtaining large verdicts and settlements.

Throughout this episode, we explore the critical components that determine settlement values in Louisiana personal injury cases, including the state's distinctive civil law foundation governed by Civil Code Article 2315, the comparative fault system that reduces compensation proportionally when victims are 51% or less at fault, and the calculation of future damages in present-day dollar value. Rice discusses real settlement figures from his firm's cases, revealing that while minor injuries may settle for $3,000 to $10,000, the average settlement Rice & Kendig has secured is approximately $1.2 million, with catastrophic injury cases reaching $1.5 million to over $5 million. We also address Louisiana-specific legal principles such as limited punitive damages that apply only in narrow circumstances like drunk driving accidents, medical malpractice caps for certain cases, and the formal distinction between special and general damages that affects how courts award compensation. Rice provides practical insights into why insurance companies' initial offers typically fall short, common tactics adjusters use to minimize payouts, and the two-year statute of limitations for filing claims in Louisiana, equipping listeners with the knowledge they need to pursue fair compensation for their injuries.

More information is available by reaching out to https://www.RiceKendig.com or by calling (318) 222-2772.

This podcast is an audio version of a blog post written by J. Marshall Rice.

This podcast is for informational purposes only and doesn't constitute legal advice and no attorney-client relationship is formed by listening to this segment. Please consult with an attorney for specific legal advice.