subject: Settlements For Personal Injury Lawsuits [print this page] Many settlements can happen before the case is even started. A settlement can also take place after the verdict and before an appeal is heard. Most of the time, settlements occur just before the trial. However, it can also happen just before the jury announces the verdict.
For a personal injury case, the times for settlement depend on numerous factors. Besides the type of case and the number of defendants, it canobviusly depend on the strength of defendants position.
Personal Injury cases that evolve from an auto accidents, have a higher rate of pre-litigation settlement than do any other type of personal injury law cases. Although this rate has dropped over the years, it is still relatively high. The reason for this is because the insurance companies hire salaried lawyers to represent insured auto accident defendants. Instead of paying outside firms by the hour to do their settlement work, they have chosen pay in house lawyers to do the work for them.
The lowest settlement rates are medical malpractices claims. This is due to their complexity and high rate of success the insurers have had defending their position at the trial. There are some statics that suggest that well over 90% of all malpractices cases that are tried result in defense verdicts. However, many of strongest cases are not even tried, but are settled out of court.
There are many advantages to settling out of court. The reason for this is because they provide a definite outcome, and avoid the risk of an unfavorable jury verdict. Before settling out of court, is prudent to be aware that statistically, not all lawyers are successful at favorable settlement for their client.
Studies show, that firms are more successful with settlements, when they follow through with the court process on a regular basis. In other words, a firm that is prepared to try a case to conclusion on a regular basis has a much better record of settlements at a higher rate, to those firms who have a history of settling all of their cases. From the perspective of the insurance company, it makes sense to settle out of court, when a large part of their attorney fees are geared for this purpose.
If the insurance company knows that the attorney has rarely tried a case, then it also knows that as the deadline of trial comes near he or she is likely to go head and try to convince his client to accept less to settle. A respected firm with seasoned trial lawyers with years of experience will more likely have the respect of their peers and insurance companies alike.
They will frequently be offered much higher amounts to settle than other firms who do not have as much experience or a less than stellar reputation. This is an excellent example of why choosing the right personal injury attorney is very important for the outcome of your case.
