SETTLEMENTS
$8,500,000 Semi-truck accident settlement
$3,550,000 settlement for Injured Tradesmen/Steelworker in addition to a $100,000 workers’ compensation recovery.
$4,000,000 Steel mill explosion, wrongful death.
$3,000,000 Prescription medicine defect.
$2,500,000 Medical malpractice – Amputation in Illinois
$1,900,000 Motorcycle accident.
$1,850,000 Product defect, defective tire. Construction employee injured when a tire exploded, causing plaintiff to be thrown over 100 feet.
$1,800,000 Construction related accident, wrist injuries
$1,500,000 Rear-end accident, back surgery and neck surgery; Motor vehicle accident
$1,300,000 Wrongful Death suit- C.P. woman awarded $1.3M in son’s crash death
$890,000 Truck Accident.
$800,000 Wrongful Death awarded to the parents of a teenage boy who was a passenger in a bus that crashed into another vehicle. The defendant, the bus driver, admitted to texting and driving which led to the crash and ultimately the death of our client. *(This award was the max amount able to be obtained, per the policy limits of the insurance contract issued. The parents split the awards equally).
$750,000 Negligent case against third party event planner. Ankle Reflex Sympathetic Dystrophy Injury.
$645,000 Auto Accident.
$627,999 Judgment against Menards hardware store. A 92-year-old plaintiff slipped and fell at Menards hardware store. There were no prior offers or negotiations of settlement by Menards before the verdict.
$545,000 Construction accident. Accident caused workplace injury. Client suffered an ankle fracture that required surgery.
$500,000 Rear-end accident. Semi-truck driver was rear-ended by another semi-truck driver.
$500,000 Trucking Accident. Spleen and shoulder injury.
$500,000 Injuries sustained due to a malfunctioning shopping cart at a Menards store. Judgement affirmed on appeal.
$487,000 Thumb injury sustained due to rear-end accident. The accident occurred when client was operating a commercial farm vehicle. Minimal medical bills and no surgery required.
$375,000 Dog bite settlement
$350,000 Construction Accident, Concussion Injury
$345,000 Illinois car accident — settlement prior to trial against a Chicago based Taxi Company.
$315,000 Propane gas explosion, psychological injuries only.
$275,000 Dog bite settlement
$250,000 Slip Fall settlement prior to trial, Illinois
$200,000 Slip Fall at trial reduced to $160,000, Jury found 20% fault on the Plaintiff.
$100,274.14 Moped rear-ended by motorcycle. Pelvic injury, no offer prior to trial by the insurance company.
$2,028,000 Trucking settlement
** Disclaimer: Alvarez Law offices past results are not an express or implied prediction of future success, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis. (Ind. Prof. Cond. R. 7.1).
A Comprehensive Guide to Fair Compensation
Accidents are an unfortunate part of life, often leaving victims with physical pain, emotional trauma, and financial burdens for which they deserve compensation – or damages, in legal parlance – from whoever was to blame. This is the basis of personal injury law. While pursuing damages might mean going to court to put the case before a judge and jury, that process can be time-consuming, expensive, and risky. Personal injury settlements represent a more palatable alternative for both sides, playing a crucial role in providing a pathway to fair compensation for accident victims while decreasing the burden on the courts.
Understanding Personal Injury Settlements
A personal injury settlement is an agreement between the injured party and the party responsible for the injury, in which the latter compensates the former for the harm they suffered. Its purpose is to provide the injured party with the money they need for their medical expenses, lost wages, and pain and suffering while the responsible party avoids the potential risks and costs associated with a court trial. Settling outside of court can benefit both parties as it often results in a quicker resolution, reduced legal fees, and less stress and uncertainty than the lengthy and unpredictable litigation process.
The Role of Legal Representation
Retaining a skilled personal injury attorney is critical when pursuing a settlement. First, an experienced attorney can calculate fair compensation in a given case. Second, they know how to negotiate effectively with the responsible party and their insurer, who usually controls the purse strings in such cases.
Negotiating with insurance companies can be daunting, as they often employ tactics to minimize their payouts to injured claimants. A skilled attorney knows how to counter these tactics, negotiate effectively, and demand that the full range of their client’s losses be adequately accounted for in the settlement.
Factors Influencing Settlement Amounts
The value of the damages an injury victim might recover through a settlement depends in part on the specific harm they suffered at the hands of the other party. Some of the most common factors affecting settlement amounts include the following:
- Medical expenses, including both past and future costs. Past medical expenses are the costs already incurred for the treatment of the injury, while future medical expenses are the estimated costs of medical care needed in the future due to the injury.
- Lost wages and potential loss of income, which includes not only the wages lost due to time off work after the accident but also the potential income loss if the injuries sustained affect the victim’s ability to work in the future.
- Pain and suffering, emotional distress, and diminished quality of life. Injuries leave victims with not only physical pain but also emotional and psychological trauma. They can also prevent the victim from enjoying the hobbies and activities they once did, diminishing their overall quality of life.
- Long-term consequences and rehabilitation needs if the injury results in long-term consequences such as permanent disability or requires extended rehabilitation periods.
Strategies for Maximizing Settlements
Ultimately, the strength of your case comes down to how compellingly you can show that the other party is responsible for your injuries and what those injuries cost you. Building a solid case means gathering medical records, accident reports, witness statements, photographs, and other evidence supporting your claim.
A demand letter tells the responsible party what you believe they did to you and what compensation you’re demanding. A well-crafted demand letter serves as the foundation for your negotiation. It should include a detailed account of the incident, the injuries sustained, the medical treatment received, and other losses incurred.
Expert opinions and medical reports can be crucial in substantiating your claim by establishing the extent of your injuries and their impact on your life. Medical professionals can objectively assess your injuries, the required treatment, and any long-term consequences. Accident reconstruction specialists can build a compelling account of what happened and why the other party is to blame.
Dealing with Insurance Companies
Approach negotiations with insurance companies with caution. Insurance companies are businesses looking to protect their profits by minimizing their expenses. One common tactic they use is to offer an initial lowball settlement. This first offer is often significantly lower than what you may be entitled to. Remember that their primary goal is to settle the claim as quickly and inexpensively as possible and that they’re hoping you’ll be desperate enough to accept their offer before you’ve had a chance to consider your options thoroughly.
Other tactics the insurance company might employ include questioning the severity of your injuries, disputing liability, or delaying the process to pressure you into accepting a lower settlement. Don’t fall for these tricks. Instead, consult an experienced personal injury attorney who can help you navigate these tactics and negotiate a fair settlement.
The Settlement Calculation Process
One of the most common ways to calculate a settlement is through the multiplier method. This involves adding up all your quantifiable, or “special,” damages – such as medical bills, lost wages, and other out-of-pocket expenses – and multiplying that sum by a multiplier. The multiplier represents the non-quantifiable, or “general,” damages, such as pain and suffering. The multiplier typically ranges from 1.5 to 5, with 1.5 being for less severe injuries and 5 for more severe or life-altering injuries.
For example, if your special damages total $10,000 and your injuries are moderately severe, a multiplier of 3 might be used, resulting in a total settlement value of $30,000 ($10,000 x 3). However, it’s important to note that using a multiplier is just one method, and several outside factors can influence the final settlement amount.
Complex Cases and Legal Assistance
Personal injury cases can be incredibly complex, particularly when multiple parties are involved, or the injuries sustained are severe or life-altering.
In cases involving multiple parties, liability may be shared among several parties, and determining the degree of responsibility of each party can be complicated. More responsible parties means more insurance companies, any of which may try to minimize their liability, dragging out the negotiation process. Similarly, calculating a fair compensation amount in cases of severe injuries involves considering long-term consequences, future medical expenses, and potential lifelong income loss, all of which add complexity to the case.
Given these intricacies, seeking legal assistance is essential when facing a complex personal injury case. An experienced personal injury attorney has the knowledge, skills, and experience to navigate the intricacies of such cases. They can help accurately determine liability, calculate a fair compensation amount, and negotiate effectively with insurance companies. Moreover, they can also help gather and present valuable evidence like expert opinions and medical reports to substantiate your claim.
Alternative Dispute Resolution (ADR)
One way to pursue a settlement is through alternative dispute resolution or ADR. There are two principal types of ADR:
- Mediation involves a neutral third party, known as the mediator, who facilitates communication between the involved parties and helps them reach a mutually agreeable settlement. The mediator does not decide on the case but helps guide the parties toward a resolution that is acceptable to both. Mediation promotes open communication and allows for more flexible solutions. It is often less adversarial and stressful than a court trial.
- Arbitration involves a neutral third party or a panel of arbitrators listening to the arguments from both sides and then deciding on the case. The decision can be binding or non-binding, depending on the agreement between the parties. Binding arbitration means that the decision is final and cannot be appealed in court, while non-binding arbitration means that the parties can choose to accept the decision or proceed to court if they are not satisfied with the outcome.
ADR has several benefits over court trials, including a faster resolution, a less adversarial process, and a lower cost to both parties. As such, it is often a preferred option for resolving personal injury cases, particularly when both parties are open to negotiation and are willing to work towards a mutually agreeable resolution.
Get the Legal Help You Deserve from an Indiana Personal Injury Lawyer
Have you been injured in Indiana? If someone else was to blame, they could owe you money for the harm they caused you. An experienced Indiana personal injury lawyer with Alvarez Law Office can pursue your case on your behalf, which could involve negotiating for a settlement. Contact us today to get started with a free consultation.
