confessions of a personal injury lawyer: the marketplace

Many clients have an inspiring faith in our system of justice.  Even though their claim may be their first experience with the judicial system, they sometimes nevertheless have a firm conviction that the system will agree with whatever they’ve decided should be a fair outcome. Unfortunately, it is more complicated than that.

One factor which clients often aren’t aware of when they form an opinion as to what a claim is worth is that there is a marketplace of sorts for personal injury claims.  That marketplace consists of the verdicts and settlements in other cases.  It is a marketplace in which insurance companies do business every day. Although there are always bizarre outcomes, bad and good, and although the value of each case is determined by its particular facts, the outcomes in other personal injury cases create a probable range of value for other cases.

Admittedly it is not a scientific way to value a claim.  If you tried the same case to ten different juries you would get ten different verdicts.  However, the outcomes in other cases set a reality-based range of value upon which a given claim’s probable fair market value can be surmised.

Similarly, you may dearly love your house.  You may have shed blood, sweat and tears to make it a special and unique place. Sure all that will matter, but we know that the real estate market has a significant influence on the eventual sales price.

It is a mistake to believe that a $10,000.00 case is worth $50,000.00.  At the same time, market or no market, the insurance company will do what it legally can to minimize the cost of every claim. That is the business they are in. Your lawyer will do what can be done to maximize your recovery. However, insurance companies tend to know when an attorney or client has assigned a value to a claim which is out of touch with reality.

We do what we can to settle the case in order to avoid the risks, delays and expense of trial. Most personal injury cases are resolved by settlement. Cases which are given an overly inflated value will not settle.  Those are cases where 12 members of a jury will tell you by unanimous decision what the outcome of your case will be.

By:  Peter G. Webb

***********************************************************************************************************************

Posted in: Lawsuits, Personal Injury, Workers' Compensation

Comments

9 Response(s) to "Confessions Of A Personal Injury Lawyer: The Marketplace"

I was looking for an appropriate clarification for minor injury. I much appreciate, administrator, for sharing such awesome substance on this theme. Presently I have all I require about it. Here's another enlightening substance for <a href= https://injurylawyerofedmonton.com/questions-to-ask-a-personal-injury-lawyer/ > Personal Injury Lawyer </a>, you will get well-informed data about it here.

  • By: Raymond Kramer
  • Nov 22, 2021 - 05:45 AM

I was looking for an appropriate clarification for minor injury. I much appreciate, administrator, for sharing such awesome substance on this theme. Presently I have all I require about it. Here's another enlightening substance for <a href= https://injurylawyerofedmonton.com/questions-to-ask-a-personal-injury-lawyer/ > Personal Injury Lawyer </a>, you will get well-informed data about it here.

  • By: Raymond Kramer
  • Nov 22, 2021 - 05:44 AM

This is a great helpful site. thank you for sharing the confessions of a personal injury lawyer. It will be quite beneficial.

  • By: Brian Hele
  • Oct 24, 2021 - 03:02 AM

Thank you very much for sharing this article. It will be highly beneficial to individuals who are looking for <a href="https://injurylawyerofcalgary.com/"> personal injury lawyers </a>.

  • By: Brian Hele
  • Oct 24, 2021 - 02:48 AM

I read your blog it is great article. Thank you for sharing us. This is something I was searching for for quite a while.

  • By: medtech course
  • Oct 19, 2021 - 03:11 AM

I didn't know that personal injury cases will create a probable range of value for future cases. That makes sense to me. But perhaps some lawyers could make use of this.

  • By: Chance Cook
  • Sep 27, 2021 - 04:33 PM

I am heartily impressed by your blog and learn more from your article. Thank you so much for sharing with us. I find another blog as like it. If you want to look, visit here <a href = https://cochraneinjurylawyer.ca/> Personal Injury Lawyer </a>. It's also more informative.

  • By: Corine Harris
  • Sep 23, 2021 - 02:54 AM

I'm glad lawyers try their best to avoid delays and expenses in a trial. People trust their lawyers to help them through these tough times. Not make it worse.

  • By: Chris Pederson
  • May 28, 2021 - 08:18 AM

Τhis is a topic that's near tο my heart... Вest wisһes! Exactlʏ where are your contact details thouɡh?

  • By: trivial
  • Oct 03, 2020 - 12:10 PM

Leave a Reply