Page 44 - Liability Insurance IC74

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The other method which is known as Nance's Method
in evolved by Simon K.C also starts with the basic
dependency amount. Even though, this amount is required
to be multiplied by the figure of expected useful life of
the deceased, Simon and rightly added that there should
be proper discounging this amount on two grounds : (i)
that the sum was spread over a period of years and so
equivalent amount in the form of lump sum should be
worked out and (ii) further balance must be made
because of uncertainties due to premature death, widow
remarriage, acceleration etc. therefore, even though
Simon case contemplates multiplication of amount of
dependency by the figure of expectation of life, one
arrives at the same result, if proper discounting is done
to arrive at the lump sum equivalent to this dependency
benefit is spread over the expected period of life.

In respect of property damage, measure of damages is
the cost of a placing all preparing the property so that
the property damaged is restored to its original condition.
General principle adopted by Courts is restoration of
the original position, but in practice it's application may
vary according to circumstances.

In some states like US punitive damages are awarded
as an additional amount by way of punishment and
warning to others, where wilful conduct was shown or

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