Prejudgment Interest Accruing From Date of Accident: What Will This Mean for Residents, Courts?
This article provides a broad overview of the application of prejudgment interest in New York as it pertains to personal injury matters and discusses what the imposition of a "date of accident" interest-accrual means for New York state residents and the New York court system.
April 13, 2023 at 10:00 AM
6 minute read
When accepting a case involving a claim of bodily injury, defense attorneys will evaluate many factors in an attempt to quantify the expected exposure. A key, but often overlooked aspect of this evaluation is the impact of a statutorily imposed rate of interest applied as of the date of the judgment or verdict. To this end, a bill presently in the New York State Legislature may soon require an even more focused approach to case evaluations and implementation of defense strategy. This article provides a broad overview of the application of prejudgment interest in New York as it pertains to personal injury matters and discusses what the imposition of a "date of accident" interest-accrual means for New York state residents and the New York court system.
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