How Will Injury Lawyer Interpret The Average Settlement?

Among all the different starting points for the various pre-settlement negotiations, there is one that could be described as average.

The adjuster’s starting bid reflects the case’s value.

Personal Injury Lawyer in Richmond Hill knows that the adjuster checks to see what juries have awarded to other plaintiffs in the past. Adjusters seek answer to this question: What is the likelihood that the plaintiff might win, as the result of a trial?

After presentation of the initial bid, an exchange of demands and offers takes place between the adjuster and the claimant/plaintiff. The exchange continues until one amount is acceptable to both sides. Once the 2 sides have reached an agreement, the claimant/plaintiff must sign a release form.

Factors considered by adjuster, when determining a case’s value

Does the defendant have access to funds or assets?

Defendants that have purchased insurance can expect the insurance company to cover the cost of a claim.

Defendants that lack insurance must look to their assets for help with compensating the victim of an accident. So, if a defendant cannot pay the requested compensation, the plaintiff’s case has limited value.

Have the case’s circumstances created any potentially contentious issues?

–Has the injured victim demanded coverage for future medical expenses? Does the medical record support the likelihood of future medical expenses?

–Do prospects for the treated victim’s ability to hold a job seem poor or good? That could be a contentious issue if the plaintiff were on the cusp of starting a career. By the same token, that issue could invite disagreement, if the plaintiff’s skills did not seem ready to expedite a transfer to another job with relative ease.

–Has the plaintiff produced any evidence of pain and suffering? Was that evidence considered during utilization of the multiplier in a formula? If so, what result was obtained by using that formula? Some legal jurisdictions put a cap on the amount of money awarded for pain and suffering.

–Has the court hit the defendant with the need to pay punitive damages? That action could become a contentious issue, if the plaintiff’s attorney has expressed a desire to replace the punitive damage award by awarding his or her client with compensation for an added element of negligence.

Do not confuse median and average.

The median is the middle of a range of figures. If there were a wide range, a few high figures could produce a number value that was higher than what most plaintiffs had received.

Sometimes a number that has been posted on a website, and has then been referred to as “average” is really a median. The posting of such medians has encouraged the launching of a search for what might be viewed as an average settlement.

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