Posted in Our Blog on January 27, 2016
No matter what kind of personal injury case you are pursuing, there is a very high chance that you will need to deal with an insurance company. In fact, most personal injury attorneys will not agree to take on a new case unless the defendant is covered by an insurance policy. That is because, if the plaintiff wins, an insurance company will be able to pay the bill, whereas a private individual may not have sufficient assets to pay.
However, there could be some big challenges that arise when dealing with insurance companies. For instance, the size, type and overall litigation philosophy of the insurance company could have a significant effect on the likelihood of settlement and how soon it might occur in a particular case.
Some insurance carriers have a conservative settlement philosophy and traditionally offer much lower settlements in cases, as compared to other insurers. These more conservative insurance companies might do this because they are factoring in the cost of their attorneys and litigation costs into their business plans.
Also, some insurance adjusters might simply have a very big caseload, which takes them a while to get through and thereby delays settlement negotiations and the litigation process. In addition, certain insurance companies have larger bureaucracies that require approvals from multiple levels before a settlement can go through – and this also takes time.
Louisiana residents who have been injured in an accident by another person’s negligence will want to keep the challenges related to insurance company settlements in mind during the litigation of their claims. Seeking guidance from a personal injury attorney experienced in dealing with insurance companies is an excellent way to navigate these issues.