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Towards a best practice approach for the assessment of loss of earnings
Thesis (MCom)--Stellenbosch University, 2023.
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2023
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| _version_ | 1867613847674683392 |
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| access_status_str | Open Access |
| author | Beelders, Jaen |
| author2 | Van der Bank, Francois |
| author_browse | Beelders, Jaen Van der Bank, Francois |
| author_facet | Van der Bank, Francois Beelders, Jaen |
| author_sort | Beelders, Jaen |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MCom)--Stellenbosch University, 2023. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/127321 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:42:38.497Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/127321 Towards a best practice approach for the assessment of loss of earnings Beelders, Jaen Van der Bank, Francois Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Industrial Psychology. Lost earnings damages Damages -- Economic aspects Medical jurisprudence Workers' compensation claims UCTD Thesis (MCom)--Stellenbosch University, 2023. ENGLISH SUMMARY: Loss of earnings reporting has a significant impact on individuals who have suffered traumatic life events requiring compensation for the damages caused to their career and related earnings. Since the majority of loss of earnings matters are due to road accidents, this also has ramifications on publicly funded institutions such as the Road Accident Fund. The opinions of opposing earnings experts are often in disagreement regarding the formulation of their progression which translates into increased litigation costs largely funded from public taxes. Should one consider that both experts have the same information at hand, there should be limited deviance in their opinions. The purpose of this study was to assess the current practices and considerations of earnings experts in the formulation of their postulations and to provide a recommended approach to compiling a loss of earnings report with the goal to develop a best practice approach. The study thus investigated current practices (procedures, rationale and common assumptions) followed by earning experts to determine loss of earnings and develop guidelines that will assist in developing a best practice approach. A qualitative research methodology was utilised with participants being selected through a non-probability sampling technique. Data collection entailed semi-structured interviews that were conducted via video interviewing software and recorded for thematic analyses. Interviews with subject matter experts (earnings experts, actuarial experts and legal experts) demonstrated five main themes and 24 subthemes. The five main themes included: Role of the earnings expert; process followed in compiling a report; formulation and structuring a report; quality concerns and difficulties; and recommendations to improve reporting. The findings were integrated with the literature to formulate recommendations for loss of earnings reporting. This exploratory study contributes to literature concerning practices followed by earnings experts and to recommendations for compiling best practice guidelines. AFRIKAANSE OPSOMMING: Verlies aan inkomste het n groot impak op diegene wie vergoeding benodig vir die negatiewe gevolge van traumatiese gebeure op hul loopbane en gepaardgaande verlies aan inkomste. Aangesien die meerderheid van die verlies aan inkomste eise verband hou met pad ongelukke, het dit opsigself ook implikasies vir organisasies wat deur die staat befonds word soos die Padongelukkefonds. Opponerende kundiges betrokke by verlies aan inkoste eise of persoonlike beseringseise, verskil dikwels in hul berekening van die geprojekteerde verlies aan inkomste wat aanleiding gee tot verhoogde litigasie koste wat hoofsaaklik deur openbare belasting befonds word. Indien daar in ag geneem word dat opponerende kundiges berekenings op dieselfde data basseer, sou mens egter beperkte afwykings in die berekenings verwag. Die doel van die studie is om die verskillende praktyke en perspektiewe, insluitend prosedures, rasionaal en algemene aannames, vir die berekening van postulasies te bestudeer en om beste in praktyk riglyne daar te stel vir die samestelling van verlies aan inkomste verslae. Gedurende die studie, is n kwalitatiewe navorsingsmetodologie gebruik en deelname aan die studie was op n nie-waarskynlikheids steekproef gebasseer. Data insameling het semi-gestruktureerde video onderhoude ingesluit wat opgeneem is vir verdere tematiese analise. Onderhoude is gevoer met verskillende kundiges op die gebied soos inkomte, aktuariele en regskundiges en het gehandel oor vyf hooftemas en 24 subtemas. Die hooftemas het die volgende ingesluit: Die rol van die inkomste kundige, die proses wat gevolg is in die samestelling van die verslag, die formules en samestelling van die verslag, kwalitatiewe uitdagings en voorstelle vir die verbetering van verslae. Die navorsingsbevindings is geintegreer met beskikbare literatuur en het die basis gevorm vir die aanbevelings vir verlies aan inkomste verslae wat in die studie uiteengesit is. Hierdie ondersoekende studie lewer n bydrae tot die literatuur en beste in praktyk riglyne aan kundiges vir toekomstige gebruik. Masters 2023-03-03T08:24:20Z 2023-05-18T07:15:59Z 2023-03-03T08:24:20Z 2023-05-18T07:15:59Z 2023-03 Thesis http://hdl.handle.net/10019.1/127321 en_ZA Stellenbosch University xii, 98 pages ; includes annexures application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Lost earnings damages Damages -- Economic aspects Medical jurisprudence Workers' compensation claims UCTD Beelders, Jaen Towards a best practice approach for the assessment of loss of earnings |
| title | Towards a best practice approach for the assessment of loss of earnings |
| title_full | Towards a best practice approach for the assessment of loss of earnings |
| title_fullStr | Towards a best practice approach for the assessment of loss of earnings |
| title_full_unstemmed | Towards a best practice approach for the assessment of loss of earnings |
| title_short | Towards a best practice approach for the assessment of loss of earnings |
| title_sort | towards a best practice approach for the assessment of loss of earnings |
| topic | Lost earnings damages Damages -- Economic aspects Medical jurisprudence Workers' compensation claims UCTD |
| url | http://hdl.handle.net/10019.1/127321 |
| work_keys_str_mv | AT beeldersjaen towardsabestpracticeapproachfortheassessmentoflossofearnings |