How To Determine The Value Of A Personal Injury Case
There is no magic formula or process by which someone can
predict with certainty the amount of money that a personal
injury case may be worth. If there were, then society
wouldn't have a need for personal injury lawyers. One could
simply apply the "formula" to come up with the value of a
case. And if this happened there would be no need for a
trial. Yet we know that trials are necessary when the two
sides cannot agree on the value of a case.
Generally speaking, a case is worth the amount of damages
inflicted on the person who has been injured. These damages
may be easy to calculate, like past and future medical
charges, lost earnings, lost earning capacity, and property
loss. But the law also states that the injured person has
the right to recover compensation for other "intangible"
harms. It is these "intangible" harms that are more
difficult to calculate, and they usually include pain,
agony, disability, loss of enjoyment, inconvenience, and
mental anguish. The intangible harms are purely subjective,
difficult to determine and often vary among the people (or
jurors) who are deciding the case. Ultimately, the value of
a case is determined by the jury (or judge if the case is
tried to the court). After a case arises, the injured
person's attorney and the at-fault person's insurance
company (and the defense attorney if the case is in
litigation) are continually trying to evaluate how a jury
might see the case and how much money a jury might award.
Then each side will assign a value or a value range, and
try to negotiate a settlement close or above each side's
own range.
Often times it may take many months or years before the
value of a case can be adequately assessed. One reason for
this is because of the slow progress of the person's
recovery or rehabilitation. Another reason is due to the
complexity of the injury or condition which may cause a
significant delay in a firm diagnosis by the treating
physician. In many instances a case should not be settled
or resolved until the person obtains maximum improvement
following the accident, and this can also contribute to the
delay of achieving a reasonable resolution of the case.
In many instances the value of a case is driven primarily
by the extent and severity of the person's injuries. Other
important factors to consider include the type, extent and
frequency of past medical treatment and the need for future
treatment. When I evaluate a case, I also rely on several
other factors to help me determine the case value. These
factors may include, but are not limited to, the client's
likeability3 as a witness and his or her credibility, the
facts of the accident giving rise to the case, the extent
and permanency of the injuries, the client's age, whether
the client missed time from work, the identities of the
at-fault insurance company and its defense attorney,
specific legal or evidentiary issues involved in the case,
the county or venue where the case has been or will be
filed, and the amount of settlements and verdicts for
similar types of cases that I and other lawyers have
handled in the past.
You should note that no two cases are alike, even if the
accident and/or injuries involved are nearly identical.
This means that the evaluation of two cases which appear to
be similar on the surface may actually produce widely
different evaluations due to the other factors listed
above. Evaluating personal injury cases takes a lot of
knowledge, experience and some hard-earned intuition.
Without these traits you may be at a serious disadvantage
when negotiating with the insurance adjustor. And unless
you are in the business of evaluating and settling personal
injury cases for a living, you should look to an
experienced personal injury attorney for guidance.
----------------------------------------------------
Mr. Davis is the founder and CEO of the Davis Law Group.
He brings over 15 years of practical yet innovative
experience to personal injury cases. He practices law in
Seattle, WA. http://www.InjuryTrialLawyer.com . Mr. Davis
is the author of "The Ten Biggest Mistakes That Can Wreck
Your Washington Accident Case" comlimentary copies are
availalbe at http://www.washingtonaccidentbook.com
predict with certainty the amount of money that a personal
injury case may be worth. If there were, then society
wouldn't have a need for personal injury lawyers. One could
simply apply the "formula" to come up with the value of a
case. And if this happened there would be no need for a
trial. Yet we know that trials are necessary when the two
sides cannot agree on the value of a case.
Generally speaking, a case is worth the amount of damages
inflicted on the person who has been injured. These damages
may be easy to calculate, like past and future medical
charges, lost earnings, lost earning capacity, and property
loss. But the law also states that the injured person has
the right to recover compensation for other "intangible"
harms. It is these "intangible" harms that are more
difficult to calculate, and they usually include pain,
agony, disability, loss of enjoyment, inconvenience, and
mental anguish. The intangible harms are purely subjective,
difficult to determine and often vary among the people (or
jurors) who are deciding the case. Ultimately, the value of
a case is determined by the jury (or judge if the case is
tried to the court). After a case arises, the injured
person's attorney and the at-fault person's insurance
company (and the defense attorney if the case is in
litigation) are continually trying to evaluate how a jury
might see the case and how much money a jury might award.
Then each side will assign a value or a value range, and
try to negotiate a settlement close or above each side's
own range.
Often times it may take many months or years before the
value of a case can be adequately assessed. One reason for
this is because of the slow progress of the person's
recovery or rehabilitation. Another reason is due to the
complexity of the injury or condition which may cause a
significant delay in a firm diagnosis by the treating
physician. In many instances a case should not be settled
or resolved until the person obtains maximum improvement
following the accident, and this can also contribute to the
delay of achieving a reasonable resolution of the case.
In many instances the value of a case is driven primarily
by the extent and severity of the person's injuries. Other
important factors to consider include the type, extent and
frequency of past medical treatment and the need for future
treatment. When I evaluate a case, I also rely on several
other factors to help me determine the case value. These
factors may include, but are not limited to, the client's
likeability3 as a witness and his or her credibility, the
facts of the accident giving rise to the case, the extent
and permanency of the injuries, the client's age, whether
the client missed time from work, the identities of the
at-fault insurance company and its defense attorney,
specific legal or evidentiary issues involved in the case,
the county or venue where the case has been or will be
filed, and the amount of settlements and verdicts for
similar types of cases that I and other lawyers have
handled in the past.
You should note that no two cases are alike, even if the
accident and/or injuries involved are nearly identical.
This means that the evaluation of two cases which appear to
be similar on the surface may actually produce widely
different evaluations due to the other factors listed
above. Evaluating personal injury cases takes a lot of
knowledge, experience and some hard-earned intuition.
Without these traits you may be at a serious disadvantage
when negotiating with the insurance adjustor. And unless
you are in the business of evaluating and settling personal
injury cases for a living, you should look to an
experienced personal injury attorney for guidance.
----------------------------------------------------
Mr. Davis is the founder and CEO of the Davis Law Group.
He brings over 15 years of practical yet innovative
experience to personal injury cases. He practices law in
Seattle, WA. http://www.InjuryTrialLawyer.com . Mr. Davis
is the author of "The Ten Biggest Mistakes That Can Wreck
Your Washington Accident Case" comlimentary copies are
availalbe at http://www.washingtonaccidentbook.com
posted by Hugh Harris-Evans at 7:46 AM
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