Some insurance adjusters make a habit of presenting an exceedingly low offer as the initial bid. Personal injury lawyers refer to it as a low-ball bid. Each of those same lawyers stands ready to help a client that has received one of those low-ball bids/offers.
The lawyer-client team must compose a formal response.
If the lawyer’s experience has allowed for identification of some reason for the low offer, then the composed letter should address that fact, and seek to make any additions or corrections. The letter’s contents should also include any update on the state of the client’s ability to recover from the reported injury.
In addition, the written response should offer details on the client’s non-economic damages. The letter ought to conclude with presentation of a new demand. That should not be an unreasonably high number.
Ideally, the adjuster would acknowledge receipt of the written document by presenting a counteroffer.
At that point, the negotiations would have begun. If the adjuster had failed to present a counteroffer, then the lawyer-client team would need to contact the adjuster’s supervisor. That action normally sets the stage for the desired negotiations.
If indeed, the adjuster had issued a counteroffer, the Oakville injury lawyer-client team would need to study it and decide what to do next. Yet, judging from the size of the initial bid, their decision would probably be guided by an awareness of the following facts.
Usually, any new bid that has followed one that was exceedingly low would not be close to what the client might view as acceptable. Consequently, the chances are rather good that the team’s decision would result in selection of and presentation of a new offer/demand. That should be a bit lower than the previous demand.
Hopefully, the 2 sides would keep exchanging offers and counteroffers, until both had agreed on a single figure. That figure could represent the terms of a settlement, if both sides had agreed to settle. The client’s attorney would write to the insurance adjuster, in order to get confirmation of the terms of the apparent settlement. The adjuster would also be asked for the date when the payout could be made.
The adjuster ought to reply, and provide the requested date. The client’s attorney would then expect to receive the anticipated check on that same date. If there were no reply, then it would be the attorney’s job to contact the adjuster’s office, and inquire about the delayed reply. Sometimes, adjusters need time to speak with a supervisor. If that were the case, then the adjuster should simply indicate the date when the payout should be ready. That should be the date when the check would get sent to the lawyer’s office.