Word: payout
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...which would have awarded 86 victims up to $300,000 each. This marked the first time the archdiocese's finance council had gone against the professed wishes of Bernard Cardinal Law. Even if the plaintiffs go on to sue and win in civil court, Massachusetts law restricts the maximum payout from a nonprofit organization to $20,000 per victim. If the archdiocese had stuck with the settlement, the councilors said, it would have been unable to provide for other victims--including possibly Shanley's, who have begun filing their own civil suits. --By Amanda Bower. With reporting by Matt Kelly/Boston
...even minimally insured people, things will never come to that. Coverage caps--which in John Q. limit the family's reimbursement to just $20,000--do exist, but they're typically lifetime maximums rather than annual caps, and the majority of them are $1 million or more. Such a payout is usually more than adequate, though a catastrophic injury like paralysis can blow through the whole reserve in just a few years. Similarly, surreptitious policy switching--which in John Q. causes the family's coverage to shrink as the lead character's work hours are cut--is not as much...
Moreover, the argument for Harvard to increase payout from the endowment is even greater in light of the University’s history of rarely meeting its payout goals. Every year the Harvard Corporation sets a goal for payout that falls between 4.5 and 5 percent of the endowment. However, because this number is set in November—10 months before the start of the fiscal year—and then not readjusted for economic growth in the succeeding months, Harvard rarely pays out at its target rate. In 2001, for example, Harvard paid out only 3.3 percent...
Admittedly, the size of Harvard’s endowment makes the real value of the payout larger than the real amount paid out by many other universities...
...major aviation accidents between 1970 and 1984, the average compensation for victims who went to trial was $1 million in current dollars, according to a Rand Corp. analysis. Average compensation for cases settled without a lawsuit was $415,000. The biggest aviation payout in history followed the crash of Pan Am Flight 103 over Lockerbie, Scotland, in 1988. Settlements ranged all over the spectrum, with a couple dozen exceeding $10 million, according to Manhattan attorney Lee Kreindler, who acted as lead counsel. Dividing the total $500 million payout over the 270 victims yields an average award of $1.85 million. However...