• Pre-Arbitration Award Interest Available to Plaintiffs if Liability Previously Determined by Jury
  • March 29, 2011
  • Law Firm: Hiscock Barclay LLP - Syracuse Office
  • In virtually all claims in New York State, except personal injury claims, interest is calculated from the time a claim accrues, which in most cases is when the wrong was committed and damage occurred. However, in personal injury cases, interest is calculated from the date that liability is determined, such as a jury verdict. The rationale distinguishing interest calculations in personal injury cases is, in part, due to the fact that an award of interest is simply the cost of having the use of another person’s money for a specified period of time. Therefore, in a personal injury action, the aim of an interest award is to make the victim whole, not to punish the wrongdoer.