The 1997 mid-point value of £1m for the prevention of a fatality includes losses
to society as well as losses that are borne by the victims themselves, their
friends and relatives. Losses to society arise because medical and ambulance
costs are largely met by the NHS, and because fatal injuries result in net
economic output being lost (the difference between the present value of lifetime
output and consumption).
1997 prices:
http://www.dft.gov.uk/webtag/documents/expert/pdf/unit3.4.1.pdf