A claim settlement is an agreement between two or more parties to settle a legal claim with payment and other terms. One of the most common forms of claim settlement involves an insurance claim, often following a motor vehicle accident. When people make claims against an insurance policy, the company reviews the claim, determines if it is covered under the terms of the policy, and offers a settlement to pay the claim. In some cases the settlement offer is accepted. In some cases, people may dispute the circumstances or amount of the claim, and the case may end up in court.
It is important to know that settling a claim usually eliminates the right to make any future claims about the legal matter. If people are not satisfied with the terms of a settlement, they should renegotiate. Once a settlement is reached, the claim cannot be reopened at a later date.
Legal cases where people are filing for civil damages are resolved with claim settlements as well. Sometimes the person being sued, called the defendant, may offer to settle before the case goes to court, a situation commonly seen when the defendant believes that going to court could result in a costly award or could create negative publicity. In other instances, a settlement is reached during court proceedings, with a judge or jury awarding damages to the plaintiff and the defendant being ordered to pay them.
The terms of a claim settlement require both parties to abide by certain terms. The party paying out is required to pay out in full within a specific time frame. The party receiving a payment may be required to maintain confidentiality regarding the matter.
People who are unfamiliar with the legal system should be aware that a claim settlement can be used abusively. Before signing documents related to a settlement, the documents should be carefully reviewed by an injury lawyer.
The Internal Revenue Service (IRS) typically doesn’t require you to include your personal injury settlement in your taxable income, which means that the financial compensation you receive as a result of your injuries is typically tax-free. Learn more here...
I felt like it was extraordinarily important for average everyday folks who happen to be victims of serious wrecks, have suffered catastrophic injuries, or someone in their family suffered a wrongful death, to understand what’s involved in keeping your settlement.
Truck accident attorneys take into account many factors when negotiating settlements, including the following...
Todd Morrow is our guest today. Todd is the founder of Moral Settlement Services headquartered in Driftwood, Texas. Today, we’re going to focus on structured settlements. This is an extraordinarily important subject.
Depending on the circumstances, you could be owed significant compensation from the at-fault party. But how do you know what you’re owed? Read more to find out.
Establishing a special needs trust allows you to segregate money recovered in a personal injury settlement so that it does not interfere with eligibility for other assistance. Learn more here...
There are many factors that may affect how long it takes your lawsuit to settle. Learn more here...
The value of a car accident settlement depends on many elements. The biggest one is the extent of the injuries you sustained.
While it’s extremely annoying when insurers deny your injury claim, it’s a routine practice. So what do you do when this happens to you?
So, while you get a quick offer that avoids a lot of stress and hassle now, that all can come back at you in much greater force later.
From the onset of the claim we let the liability adjuster know that we believed the at-fault driver’s actions were not only negligent but completely reckless.
Texas law requires every driver to carry insurance when operating a motor vehicle. But, waving a magic wand and requiring everyone to do so by law doesn’t mean that everyone will follow through.
Here are four ways to avoid damaging your personal injury case brought to you by the attorneys at Mullen & Mullen Law Firm.
So here’s some straight talk: Insurance companies do not exist to fairly compensate injured victims. They exist to make money for executives and shareholders.
In Texas, the unfortunate reality is that insurance companies have laws written in their favor. That’s the world you live in, whether you want to or not.
This motorcycle injury accident case illustrates just how important it is to have uninsured / underinsured motorist coverage. The minimum liability limits in Texas are just $30,000.
This client did not have a truly objective injury I could point to. She did, however, have symptoms that mimicked those typically seen with a herniated disc. Even though the symptoms resolved, I argued to the adjuster that the injuries the client had sustained did have a significant temporary impact on her life entitling her to fair compensation.
Don’t fall for these tricks from insurance companies after an accident! They’ll try anything they can to reduce or eliminate your accident settlement.
Don’t worry, you won’t be writing it. Your lawyer will because it’s critical to present all the facts and circumstances in a way that positions you well.
We’re not talking about manipulation or exaggeration here. This is a settlement tool we need to use on your behalf to make sure you don’t get run over by the insurance company.
Despite the unfavorable venue, I was able to convince the insurance carrier for the at-fault motorist to pay the full liability policy limits. I was also able to get the client’s automobile insurer to pay substantial monies under her underinsured motorist policy.
Adjusters almost always want to make cases about bills instead of about people. Even though this client’s medical bills were relatively low, that did not change the fact that she undeniably experienced significant mental anguish as a direct result of the auto accident.
Sometimes the accidents and injuries are minor, but often, someone is seriously hurt or killed in a crash. It is a terrifying experience to go through, and afterwards, many crucial decisions need to be made to ensure the physical and financial recovery of the victims. Click here to learn more about what kinds of damages are recoverable losses after being hurt in a car accident.
This type of coverage is important to consider if you're driving a financed or leased vehicle. Click this link for an article by Bill Coats Law on gap insurance - what it is, and who needs it.
Insurance law is a complex system, full of loopholes and obscure rules that can derail any consumer who files a car insurance claim. If you're fed up with the process and are ready to fight fire with fire, you're probably considering whether or not to hire a lawyer. From one personal injury attorney in Bellingham, WA, here are some things to look for in finding the best person to help you on your car accident case.
It's called the Hamilton Rule, and if you don't factor it into your uninsured/underinsured motorist protection policy negotiations, you might put at risk getting any money from your claim. Click to read more by personal injury lawyer Bill Coats in Bellingham, Washington, and watch a video on the Hamilton Rule.
