The lawyers representing each of the 2 disputing parties recognize the value of the submitted claim. The claimant has determined the minimum amount of money that he or she would find acceptable. The insurance adjuster has learned the size of the largest payment that the insurer would agree to deliver.
Steps made to reach an agreement
Working with a Personal Injury Lawyer in Oakville, the claimant composes a demand letter. That contains the facts that relate to the reported accident, along with the amount of money demanded as compensation.
The adjuster responds by pointing out the weaknesses in the claimant’s argument. Some adjusters do not respond to such letters. In that case, the letter’s author should contact the claims department. Then the department head should be asked for a date when a response ought to be available.
Ideally, the response comes on the expected date. If it does not arrive, then the claimant’s lawyer should send a reminder. If there is still no response, it becomes the attorney’s duty to speak with the adjuster’s supervisor. Claimants can answer comments on weaknesses in their argument by supplying the adjuster with more information. Once the adjuster has seen that additional information, he or she should make an initial offer.
Upon getting that initial offer, the claimant should make a counteroffer. That counter offer should be lower than the amount stated in the demand.Upon receiving the counteroffer, the adjuster would increase the size of the proposed payout. The claimant could accept the adjuster’s proposed figure, or make another counteroffer. Eventually, the negotiating parties would agree on some figure.
The lawyer’s role in this process
Personal Injury Lawyer in Oakville speaks with their client’s opposite party, normally an insurance adjuster, during the course of the negotiations.During the times when an adjuster has tried to stall the negotiations, the claimant’s attorney might speak with the adjuster’s supervisor.
Lawyers remind their clients to avoid settling until their recovery has carried them to the point of maximum medical improvement (MMI). They handle requests for a signed release form. An experienced attorney studies the release form, once it has come from the insurance company. If the attorney finds it to be acceptable, then the attorney’s client must sign that form, in order to receive the desired payout.
The client’s payment gets sent to the client’s lawyer. That lawyer deducts both the fee and the money that covers any of the lawyer’s out-of-pocket expenses. In addition, the lawyer arranges for payment of any person or institution that has already provided the client with certain funds, in order to cover some of the client’s expenses.
The lawyer’s final role concerns sending the rest of the money in the payout from the insurance company to the client.