Pre-Verdict Interest in Personal Injury Actions: It's About Time!
Trial attorney Alan Clark shares his opinion that it is "about time that New York amend CPLR section 5001 to allow recovery of pre-verdict interest on awards in personal injury actions." He concludes that "pre-verdict interest would go a long way to encourage settlement of cases well before the parties are told to pick a jury and substantially reduce calendar congestion."
August 09, 2023 at 10:00 AM
18 minute read
As per CPLR Section 5001, interest shall be recovered upon a sum awarded in certain actions but does not include personal injury actions. As per EPTL 5-4.3, statutory interest should be recovered on principal amount of wrongful death damages from the date of death. It is about time that New York allowed pre-verdict interest to be recovered in personal injury actions. Pending amendments to CPLR 5001 (a) and (c) would allow interest to be recovered in "bodily injury "actions. Such changes would be in accord with most States and equitably allow full, fair, and just compensation for injury victims as well as encourage settlement of such cases reducing calendar congestion.
Currently, CPLR 5001(a) provides that pre-verdict interest shall be awarded upon a sum awarded in certain actions:
(a) Actions in which interest is recoverable. Interest shall be recovered upon a sum awarded because of a breach of performance of a contract, or because of an act or omission depriving or otherwise interfering with title to, or possession or enjoyment of, property, except that in an action of an equitable nature, interest and the rate and date from which it shall be computed shall be in the court's discretion.
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