The question of how an insurance company decides on the value of your case is not an easy one to answer. An experienced Pasadena personal injury attorney will briefly address this issue in the paragraphs below.
Reserves and Policy Limits
A sum of money normally referred to as the reserves, which represents the ultimate worth at which an insurer may rate your claim, is first sequestered by a claims manager or supervisor. This represents the possible value that your case might possess and is subject to change. Depending upon the severity of the case, the reserves could be set as high as the policy limits. This sum represents the maximum amount that the insurer is willing to pay. It is specified in the terms of the defendant’s policy.
As the groundwork that will form the foundation for your case progresses, a running account of earnings lost, expenses due to medical testing, treatment or other procedures, the degree to which your injury might impair you permanently and other contributing factors is assembled by the insurer. In addition, an evaluation of your case’s supporting evidence, testimony from witnesses, and whether or not you were in any way partially responsible for your own injuries or have any record of prior injury will also be undertaken.
Your Pasadena personal injury lawyer will be kept informed concerning the types of data that the insurer is examining, and if applicable, the insurer will require any medical reports or other supporting information concerning any prior injury to the same body part that you may have sustained.
If you are involved in a personal injury case, engaging the expertise and experience of your Pasadena personal injury attorney is a must. Call The Paul S. Norris Law Firm at 626-993-4415 today for information or assistance.