Insurance Settlements
Insurance companies are like a casino. They know what their potential exposures are by use of actuary tables. In the event of accidents that do not result in death, they can ascertain by the factors of the claim how much money it will take to get rid of the claim off their books.
Some of these factors are age, type of injury, type of employment the injured party has or had, geographic area of residence, education and the current employment market. Also to be taken into consideration is the attorney factor, meaning if the claim is represented by a lawyer.
When claims are being paid out by insurance companies, they idea is to get the claim closed "yesterday" if possible. If a "cheap" settlement can be arranged, this is the desired result as then there is not the cost of litigating (going to court) and taking the chance of losing the actual case. At the same time, in today's environment, there are many claims that are fake and fraudulent and rather than settle these type of cases, they want to get evidence and turn it over to the local authorities and prosecute for fraud.
The over-whelming claims that are being paid are legitimate and most of them come to a natural ending with events returning to normal prior to the incident that is having them being paid by an insurance company. The only thing for sure that an insurance company can count on is a FINAL SETTLEMENT. This is when both sides agree to a monetary figure and once signed and monies received the claim can never be revisited by the injured party.
Sounds simple enough, but then the term greed enters the equation. This generally happens when an attorney is involved as he/she wants more so they can get a bigger piece of the "pie", in other words their percentage. They also have the expertise to really know how much a claim is worth to an insurance company and to their client so in some instances, they keep a check and balance system on the table. There are many times when a settlement cannot be reached easily and this is when a third party is necessary to come into the equation.
Enter Tucker Insurance Systems, whose history dates back to 1976 working with insurance companies, the injured parties as well as their employers and their attorneys. By employment their employment consulting expertise and providing extremely valuable documentation, agreed upon settlement figures quickly become accepted by all parties. For further information, visit the Contact Us page.