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Today we're talking about why insurance companies pay to settle cases.
I think there's a misconception often with people who are injured, my clients, trying to understand why exactly is the insurance company willing to pay money to resolve your case. Although your lawyer will present your case in terms of your injuries, the traumatic event and how it harmed you and resulted in losses to you. For instance, pain and suffering, income loss, health care expenses, and maybe expenses associated with doing things around your home as well. That's how your lawyer presents it to the insurance company. Understanding Insurance Company Motivations & Risk But in fact, the insurance company, when they settle a case with you, they're paying for a release. They're giving money in exchange for a contract or an agreement, which lawyers refer to as releases in these circumstances that essentially serve to release and relinquish all of your rights to continue your lawsuit in a court of law, to find out what a judge or a jury will ultimately award in a court of law. The amount the insurance company is willing to pay largely depends on how much risk they have in going to court against you. The greater the risk to the insurance company, meaning the stronger case you have to present in court, the more they're willing to pay to buy your rights to have your case resolved by a judge or a jury. Case Study: Car Accident and Whiplash Injuries Let's use the example of a car accident. You have five people who were involved in a car accident. Everybody's heard of whiplash, so let's use that as an example. Every single one of them had the same injury. So you have five people who Rear ended with whiplash injuries. For each of them, it's impacting their life. It's impacted upon their health. It's impacted upon the way they function at work. They all have the same symptoms. They all have the same injury. The Importance of a Robust Treatment Team Now, one of those people regularly goes to the doctor, has seen specialists, has attempted all the treatment recommended, seen specialists, maybe injections, maybe as far as in fact, requiring surgery. They have a robust treatment team. And then you get another individual in that group. Let's go to the other extreme. They're having all these symptoms. They've gone to their doctor and the doctor prescribed something. They tried it. They didn't like it. And then they just stopped going and they sort of managed doing some home exercises from time to time. They're less engaged in their recreation. They're not going to the doctor, they haven't seen any specialists, they're not filling any prescriptions, they're not doing any ongoing therapies. Comparing Strong and Weak Cases Now, the lawyer has both of those cases to present. One case, where the person has a robust treatment team. That's a really strong case to present at court because not only is the jury or the judge going to hear from the injured party, they're also going to hear from all of these people that really have no interest in the outcome of the case. Their role is to make you better, to help you heal. And they're going to be able to come into court and talk about their role, their involvement, what they've observed and more than that, they're going to be qualified as expert witnesses. Benefits of Having a Treatment Team & Expert Witnesses An expert witness has greater latitude in a courtroom. They can give opinions and they can give evidence that a lay witness cannot give. Opinions on how the injuries harm opinions about the future. The person who has an organic treatment team made up of individuals whose only interest is in treating this person is going to have a far stronger case. Now let's look at the other side, the person who doesn't have that treatment team. The only real way the lawyer can present those injuries is to go out and hire an expert to pay for an opinion. So they will, they'll pay for a doctor to see you maybe one time, maybe for an hour or less. to assess you, write an opinion, ultimately, if necessary, come to trial and testify about that opinion. While that doctor is still credible and still very qualified, it will become obvious in court that that opinion isn't really supported by a treatment team. It was obtained solely for the purpose of the lawsuit. You're not getting any treatment from this person. They didn't see you on a regular basis. And so although They might both have the same conclusions and their conclusions might both be correct, that you are injured and that you require ongoing health care. The ability to present the story or the case in court, in my view, is much stronger for the person who has an organic treatment team, people who know the individual much better and are involved in their care and treatment. The person with the treatment team will still likely have an expert that's hired by their lawyer for use of expert opinion. But now that expert is also carrying far more credibility in a courthouse. Their opinion is supported by medical records, treatment and the opinions of all these other people involved in your team. Insurance Company Risk Assessment If the insurance company is negotiating to buy a release, that prevents that individual from taking their case all the way through the verdict at trial. Which one do you think they're going to pay more on? In our experience, more than 20 years of doing this. Invariably, 100 percent of the time, the insurance company will pay more money to the person that has a stronger ability to present the case at court. And that's because they're not looking at the pain and suffering and what's right, what's fair and what's reasonable. Insurance companies don't do that. All they think about is risk. And they look at that particular set of facts and that particular presentation and they say, well, that puts us at greater risk of paying more money than the other scenario. Because the risk is greater to us, we're going to pay more to keep that case from going and being told than we will for this other one. It's not fair, probably. But it's important to keep in mind that insurance companies aren't required to be fair. They're not a government entity. They're not a disability policy in this context. They're defending someone that caused the car accident. And that insurance company's mandate is to defend and only pay what the exposure is to their insured. And so really they have no obligations to the injured party. Advice for Injured Parties and Their Lawyers So what does that mean for you and your lawyer? You and your lawyer need to make sure you can tell the story well in a court of law. Whether it's to a judge or a jury. That you can present to a judge or a jury that in fact there is an income loss or a risk of an income loss. That there are medical expenses and ongoing health care that you will require in the future and ongoing expenses. That the event did result in a serious harm to you in terms of your health, your function, your relationships, your enjoyment of life, your recreation, things like that. These are my suggestions from my experience, litigating personal injury cases, both as a defense lawyer, which I was for many years and as a plaintiff's lawyer representing injured victims, which I've now done for much longer than I have as a defense lawyer. That's my experience. Of course, ask questions to your lawyer. Get advice, find out what you could do to help tell your story and create more risk to the insurance company so you get paid more money and you're fairly compensated. Have Questions? Contact Us Today! If you have any questions, we're always here for you. We're happy to help. You can call us 24 hours a day, seven days a week, toll free. You can request a free consultation. Thanks for joining us and we appreciate you.
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Car accidents are a common occurrence in Florida, and they can be a stressful and confusing experience. In the aftermath of an accident, it's crucial to take steps to protect your rights and ensure that you receive fair compensation for any injuries or damages you have sustained. Unfortunately, many people make mistakes after a car accident that can jeopardize their case. Here are some of the top mistakes to avoid and why they are so detrimental:
1. Failing to Call the Police One of the most important things you should do after a car accident is to call the police. Even if the accident seems minor, it's essential to have a police report on file. The police report will document the accident, including the date, time, location, and details of the collision. It will also provide valuable information about the other driver, such as their name, insurance information, and contact information. The police report is critical and can help you prove your case if you need to file an insurance claim or a personal injury lawsuit. 2. Not Seeking Medical Attention If you've been injured in a car accident, it's crucial to seek medical attention as soon as possible. Even if you don't feel any pain, you may have sustained injuries that need to be treated. Some injuries, such as whiplash, may not be immediately apparent, but they can cause significant pain and discomfort in the days and weeks following the accident. Seeking medical attention will create a record of your injuries, which can be helpful if you need to file a personal injury claim. The medical records will document the extent of your injuries, the treatment you received, and your prognosis. 3. Admitting Fault Never admit fault for a car accident, even if you believe you were partially responsible. Anything you say or do at the scene of the accident can be used against you later on. Instead, simply provide the police with the facts of the accident and let them determine who was at fault. If you admit fault, the insurance company may deny your claim or offer you a lower settlement amount. 4. Not Contacting Your Insurance Company You should contact your insurance company as soon as possible after a car accident. The insurance company will also be able to provide you with a rental car and other assistance while your vehicle is being repaired or replaced. 5. Signing a Release of Liability Insurance companies may try to get you to sign a release of liability, which is a document that releases the insurance company from any further liability for the accident. Never sign a release without first speaking to an attorney. A release could prevent you from seeking compensation for any future injuries or damages that you may discover later on. 6. Not Hiring an Attorney If you've been injured in a car accident, it's important to hire an attorney. An attorney can help you protect your rights and ensure that you receive the compensation you deserve. An attorney will be able to investigate the accident, gather evidence, and negotiate with the insurance company on your behalf. If necessary, an attorney will also be able to represent you in court. Andrew Iacobelli is an experienced personal injury lawyer who established Iacobelli Law Firm with offices in Palm Beach County Florida. Andrew restricts his practice to the representation of personal injury victims in claims involving serious injuries, Catastrophic Injuries, and wrongful death. Andrew is a lifetime member of the Million Dollar Advocates Forum. |
AuthorAndrew Iacobelli is a Florida personal injury attorney. Andrew is also licensed to practice law in the State of Michigan, the State of Texas and the Province of Ontario and regularly represents victims in cross-border injury claims. Andrew restricts his practice to the representation of individuals that have been seriously injured. 
Florida Personal Injury Attorney Andrew Iacobelli
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This site uses content and information prepared by AI including technology from Gemini and ChatGPT technology from OpenAI.
You should always consult with an attorney about specific legal questions you may have.
This site uses content and information prepared by AI including technology from Gemini and ChatGPT technology from OpenAI.
You should always consult with an attorney about specific legal questions you may have.