After an injured accident victim has submitted an injury claim with the insurance company of the responsible driver, the insurer creates a file, and hands that file to one of the company’s adjusters. Then the adjuster must go to work.
The adjuster performs the tasks that have been assigned by the insurance company.
The insurer wants the adjuster to keep the payout as low as possible. Still, it is the adjuster’s job to keep the claimant from filing a lawsuit, with the help of an injury lawyer in Fergus.
How the adjuster prepares for the coming negotiations
The adjuster must consider the factors that should determine the size of the initial offer
—Value of the reported losses
—Source of treatment used by victim: Was it a medical doctor or a chiropractor?
—Has same claimant made earlier injury claims? What were they?
Other considerations made by adjuster
What are the policy limits? What amount of coverage had been promised, according to the terms in the purchased policy?
Does the other party have a strong case?
—Is there clear evidence of fault?
—Has the claimant produced verified evidence, regarding the extent of the reported injuries?
A lawyer will help you understand your rights and options in the case, as well as provide guidance on how to proceed with any litigation or settlement strategy.
If the adjuster has not found any “holes” in the claimant’s case, he/she gets working on the next task.
Once adjusters reach this point, each of them proceeds to use a standard formula. The formula is supposed to furnish a figure that can be used for starting negotiations. The formula contains the total for the medical expenses, which was obtained by adding up all the medical bills.
That total gets placed in a multiplication operation. The other factor in that operation is a multiplier. The multiplier normally falls within the range of 1.5 to 5. Adjusters use a large multiplier, if the victim has suffered a serious injury. The product of that multiplication operation gets added to the value of for the claimant’s lost wages.
Adjusters show the results obtained with the formula to their supervisor. Their supervisor might suggest changes. After those changes the adjuster’s next task involves using the calculated results to select the size of the offer that will initiate negotiations.
If you or someone you know has been injured due to the negligence of another individual, it is important that you contact an attorney right away. The sooner they can begin their investigation on your behalf, the less time there will be before a lawsuit is filed against them.