Most claimants settle with the opposing party, instead of having the dispute resolved in a courtroom. By submitting their claim to the other party’s insurance company, those claimants manage to save time and money.
How to submit a claim?
Personal injury lawyer will compose a demand letter. In that same letter give the time, place and location of the accident, plus any details that related to the same accidental occurrence. They will include a demand for an amount of money, normally more than the amount expected. Send the demand letter to the adjuster for the insurance company of the responsible party.
What to expect, after sending demand letter
Expect to be presented with a counter-offer, one made by the insurance company that has received the recently sent letter. The claimant that receives that counter-offer should issue a response. That response should give the reasons for refusing the counter-offer, along with a second and lower demand.
The adjuster and the claimant keep putting forward demands, and responses to the demands, until the 2 manage to agree on one offered figure. If the 2 cannot agree on a figure, it becomes necessary to deal with that stalemate.
What could happen, if the negotiations led to a stalemate?
At the time of such a situation, the 2 sides might agree to take part in a mediation session. That would call for introduction of a neutral mediator. Mediators bring a fresh perspective, along with a strong desire to help the disputing parties reach an agreement.
What happens if the 2 parties manage to settle?
The claimant should seek written confirmation from the insurance company, concerning the exact figure on which the 2 sides have settled. The insurer sends a request for a signed release. The claimant needs to sign the issued release form, if he or she has reached the MMI, and if the claimant has agreed to the amount quoted in the letter from the insurance company.
When the insurance company receives the signed release form, then the insurer knows that the claimant will not seek more money, as compensation for the personal injury claim. Once ensured of freedom from a future personal injury claim, the insurance company should issue a check to the plaintiff’s attorney. That signed check should be made out for the amount of money that matches the amount discussed by the adjuster and claimant, at the time of settlement.
Once the plaintiff’s attorney gets the check, then that personal injury lawyer in Waterdown removes the contingency fee, as well as the money that must go to the client’s health care provider. The balance of the check goes to the client, and serves as compensation for the client’s injuries. That ends the process associated with the personal injury claim.