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What are the limits on the payment of claims?

Question and Answer

What are the limits on the payment of claims?

At the present time there is a limit of $400,000 per claimant for claims arising after January 1, 2007 and an aggregate maximum for claims against a single attorney of $1,500,000. Lower per claimant maximums apply to claims arising prior to January 1, 2007. If the compensable claims exceed the aggregate maximum, the Trustees may petition the Supreme Court for an increase as to that attorney. It may be necessary to categorize the claimants according to hardship in order to determine payment, or to delay payment until the extent of the aggregate maximum problem can be determined.