Hi In the 3rd paragraph following 'Compensation', there mention that Loss of Income is often split between loss of past income and loss of future income; Why is there a need to consider loss of past income? Is it because we need to understand how the affected individual's past income had progressed in order to forecast future income? Thanks.
Just to avoid confusion for other students reading this, I think you are referring to Section 2.1 of Chapter 8. There is a need to consider loss of past income because some of the income the policyholder has lost due to the injury will relate to the period between the date of injury and the date of the settlement or court case. Past income just means income lost between the date of injury and the date of the settlement or court case. As you say, this will also help in assessing loss of future income.
