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Demanding settlement. Now What? |
My lawyer called me last week and told me that he was going to "demand a settlement" from the insurance company(personal injury case). what happens now? How long does the company have to accept or reject? Forgot to add this is in Pennsylvania I don't know about Pennsylvania, but I had a lawsuit several years ago and my lawyer did the same thing. They were dickering back and forth for a few weeks before we settled. Remember too, that the limits are set by the person's available insurance. Some people don't think that matters. If the insurance policy is $25,000 max, that is absolutely the most you will get, then your lawyer gets 33 1/3 % (or whatever it is now!). Don't get your hopes up. Demanding a settlement is the lawyer just wanting to get it done and over with. There's no clear answer. Just understand that nobody wants the case to drag on unnecessarily. Moreover, the insurance person handling your case gets a computer tickler message at regular intervals (for example: every 90 days) to prompt the settlement of open cases that are lagging. Probably the sooner you get your medical documentation finalized, the sooner the insurance company can negotiate a settlement of your claim. It's a way to keep the issue out of a trial. Very common way of dealing with small claims and personal injury. If the insurance company doesn't meet your lawyer's demand (time x money = settlement) he may either go back to the bargaining table or take them to trial. Ask your lawyer what the terms are, and remember, even phone calls to him are billed by the hour. They have however long your lawyer gives them. Basically you are threatening them to settle now or you will take them to court. |
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