Long story short got rear ended by a work truck of a very large company in arizona. It caused a traumatic brain injury, neck and back disc issues and nerve damage. Even after a year of treatment still have pain, headaches and neuropathy that is going to be permanent. Medical bills around $250,000. The lawyer said that 99% chance it settles before going to trial. From an insurance adjuster point of view I'm trying to find out how often these large commercial cases actually get settled? Or do they usually end up in mediation, arbitration or a lawsuit filed before being settled? I'm just wondering because I didn't notice when originally signing up with the lawyer in the fine print of the contract they charge an extra 8% not just if it goes to trial but even if they filed a lawsuit or it ends up in mediation or arbitration.
How often do car accident settlements go into mediation, arbitration or filing suit?
byu/CraftyPerformance272 inInsurance
Posted by CraftyPerformance272
2 Comments
Large commercial cases with serious injuries are not likely to settle before litigation. Only the catastrophic, extremely complex cases, however, are likely to go to trial. A case like yours is most likely to proceed to late mediation and either settle there or on the courthouse steps before trial. The insurer is not likely to give out the “real money” before mediation unless discovery or depositions go extremely badly for them. Most of the posters here are adjusters with mass market personal carriers who have small authority. This kind of case is way out of their depth.
Well your lawyer, who has his finger on the pulse of this issue, just told you.