 Lost ring: reward? |
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 Does anyone work for farmers insurance? |
I was offered an an insurance agent position. But still unsure about taking it. They seem to offer quite a bit
Additional Details
Please if you will, whats your opinion of this company,... |
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can anyone please explain in further details what the following means:
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Hello,
When I was 25 y.o (non-smoking, healthy female without family), I was convinced to buy whole life insurance. I had to pay 2000$/yr for 20 years for 100K base coverage. I was told that it&#... |
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 The Amount of Time it takes to Recieve an Insurance Settlement? |
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John | What are some reasons why insurance co. settles a lawsuit? |
What are some reasons why an insurance co. settles a lawsuit(premises liability). Could one reason be that the plaintiff and lawyer have a solid case? And they see client was wrong? |
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mbrcatz
|
They'll settle, if the claim is COVERED, if they think a judge/jury would find against them anyway, and if they think it's possible a jury might award MORE than the settlement request.
Whether or not they think their client is wrong, is irrelevant. It's about what the JUDGE is going to think, and if there's coverage under the policy.
A FEW policies, have a clause in it that the client has to agree to the settlement. So if the policy has that clause, regardless of the above, if the client doesn't agree, they don't settle. |
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Left Bank Hook
 |
It's a simple cost-justification. They look to see how much the person wants for the lawsuit, how much they think it will cost to fight, and how much they think they can offer to avoid the whole thing. They also take a look at how likely it is that they'll be sued again for a similar deal. (If it's likely, they'll be more apt to fight to win--so there's a precident.) |
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Yo' Mama
 |
They will settle for the following reasons: A) Their insured is legally liable and the amount of the settlement reasonably reflects what the plaintiff would have gotten had the case gone to court; B) their insured is legally liable and the case has emotional or political elements such that, if a jury got it, the award would be unreasonably inflated; C) their insured is legally liable and the potential judgement in a court of law could affect the value of other cases or result in an appellate court decision that would have a detrimental impact on settlement values of other claims or case law that would control the handling of other claims so it's cheaper to pay the claim and get out now. |
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ed
 |
Could one reason be that the plaintiff and lawyer have a solid case?
One possibility.
The other?
The cost of litigation, even if they win the case, may equal or exceed the settlement. In either scenario, they expend the same amount, or maybe more, without the hassle.
Also, settlements for injuries negate any further claims.
And lest we forget, juries can be wild. |
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swood1968
 |
Lots of good answers here. At the end of the day, whether an insurer settles or not boils down to only a few elements (all this assumes that coverage has been extended for the loss).
1) Liability - Is it clear or are there defenses that can be raised? Depending on your state, there could be several defenses for the property owner in a premises liability case. I'm in Texas. Slip/trip and fall cases are all but dead here.
2) Damages - How bad is the injury? Soft tissue or objective injury (ie. broken bone)?
3) Witness potential of the parties involved - Will the insured make a good witness on his/her own behalf? Will the jury like him/her? Same for the the plaintiff. This is actually very, very important. I have tried cases I otherwise wouldn't have because I knew the jury would simply be offended by the plaintiff.
4) Venue - Also very important. Is this a liberal venue where juries like to award money? Or is it extremely conservative and unwiling to award money to an injured party. Is the judge plaintiff or defense friendly?
5) Attorney Qualifications - How good is the plaintiff's attorney? Is he one of the run of the mill ambulance chasers or does this guy have some stroke? How good is the defense attorney? Most insurers hire very good outside counsel for larger cases, but leave the small exposure stuff to in-house attorneys.
Hope this gives you some insight. |
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aaron p
|
It could also be that it's so much cheaper to just let it go. You could have had a horrible case, but your lawyer did a good job letting them know he or she plans on dragging it out. |
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