Does the Insurance Company Have to Offer a Settlement?
July 19, 2012 By Paul Giannetti, Attorney At Law
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Under the New York State Workers' Compensation Law, settlements under Section 32 are voluntary. The insurance carrier is not obligated or required to offer settlement. Nonetheless, in the vast majority of cases insurance carriers will be interested in trying to settle a claim.
Insurance companies are motivated to settle cases because they realize that over time they will likely pay out significantly more than what the injured worker will accept as a one-time settlement payment.
Injured workers are often interested in settling their cases because they are fed up with the inefficiencies and inequities of the New York State Workers' Compensation system. They also realize there are no guarantees regarding future benefits and that a shrewd insurance company can very easily reduce or suspend their benefits and begin lengthy litigation. During litigation, insurance carriers are often allowed to suspend benefits or reduce them depending on the nature of the legal issues involved.
Without in-depth knowledge of the Workers' Compensation Law and the workings of the system, it is impossible to fairly evaluate your case for settlement.
If you have a claim and are interested in finding out whether you may be entitled to a settlement, feel free to contact us to learn your rights. We will offer a free case appraisal.
AUTHOR: Paul Giannetti
Copyright Paul Giannetti, Attorney At Law
More information about Paul Giannetti, Attorney At Law
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
Injured workers are often interested in settling their cases because they are fed up with the inefficiencies and inequities of the New York State Workers' Compensation system. They also realize there are no guarantees regarding future benefits and that a shrewd insurance company can very easily reduce or suspend their benefits and begin lengthy litigation. During litigation, insurance carriers are often allowed to suspend benefits or reduce them depending on the nature of the legal issues involved.
Without in-depth knowledge of the Workers' Compensation Law and the workings of the system, it is impossible to fairly evaluate your case for settlement.
If you have a claim and are interested in finding out whether you may be entitled to a settlement, feel free to contact us to learn your rights. We will offer a free case appraisal.
AUTHOR: Paul Giannetti
Copyright Paul Giannetti, Attorney At Law
More information about Paul Giannetti, Attorney At Law
View all articles published by Paul Giannetti, Attorney At Law
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
