Personal Injury Compensation (Two Marketplaces)

In this post we discuss personal injury case compensation. First, we  discuss why a personal injury case has value. Second, we visit the marketplace.  Third, we cover the variables that go into the evaluation of a personal injury case.

Why Personal Injury Case Has Value. A personal injury case has value because of the common law of England and the United States.  In common law one is responsible for his negligence. Thus when a person has a duty to act or to not act and he breaches this duty and proximately causes injury he is responsible for the damages that result. This is the common law of negligence. In our society the only way to address responsibility for damages is with money to pay for the damages.

Personal injury Marketplace. Almost all negligence cases involve insurance. This is because people in our society usually have liability insurance to insure them for their negligence.  A good example is automobile liability insurance that pays for the insured driver’s negligence up to the amount of coverage. The first market place for personal injury case value is the negligent person’s insurance company. The insurance adjuster an employee of the insurance company evaluates the case and offers an amount to settle the case. The most the adjuster will pay on behalf of the insurance company is the value of the personal injury case in settlement.

The other market place for the personal injury case is the trial court which usually means the most a jury will say the personal injury case is worth. The key is to know when the insurance offer is too low in relation to what a jury will usually say. This is one reason why the injured person needs an experienced personal injury lawyer to represent him in his injury claim. The experienced personal injury lawyer knows when the insurance offer is within range of the likely jury amount, and if it is not he is able to take the case to trial to get fairness from the jury.

Evaluation Variables. Assuming there is no argument on the liability of the negligent person, the first case value factor is the treatment for the injuries and the bills for the treatment.  Put simply the insurance company or the jury compensates the injured person for their medical bills for treatment necessary to deal with the injury. The next  factor is future medical care. Then any economic loss such as past, present and future  wages and/or inability to work in a certain capacity in the future.  Damages that have a mathematical  basis for determining are called special damages. After special damages,  the insurance company or the jury provides compensation for general damages. General damages are for disability, loss of enjoyment of life, pain and suffering and/or disfigurement.

In the next post we discuss damages to gain a better understanding on how a personal injury case is evaluated.

    2 Responses to “Personal Injury Compensation (Two Marketplaces)”

    1. Great info once again. Thumbs up.

    2. Roy Music says:

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