A workers’ compensation settlement in Chesterfield County is an agreement between an injured worker, their employer, and the insurance company to accept a lump-sum payment in exchange for ending the claim. Every agreement must be approved by the Workers’ Compensation Commission. Settlements can often provide fair compensation to a worker without the uncertainty, time, and expense involved with hearings and appeals. A lawyer who is experienced with workers’ compensation settlements in Chesterfield County can help you recover the benefits you deserve. Contact an accomplished workers’ compensation lawyer today.
Injured employees may decide to settle their workers’ compensation case for several reasons. For example, if there is a hearing coming up and the outcome is uncertain, it might be wise to consider a settlement agreement. There is always a risk when going to a hearing because if the outcome is not in the employee’s favor, they may walk away empty-handed.
Many workers also consider settlements when they have reached maximum medical improvement and are still receiving checks. In these cases, it may be best to accept a lump-sum payment and move on with their life, especially if the insurance company has begun vocational rehabilitation.
If the worker is still employed by their pre-injury employer, resignation from the job is usually a condition of the settlement agreement. There are laws in place that protect benefits like retirement, but the employee is typically going to lose paid vacation time, paid time off, and health insurance.
The items included in a settlement vary from case to case depending on the nature of the injuries and the strengths of each side’s case. If possible, the person should make sure that the insurance company agrees to pay for any medical treatment that has already taken place. If not, then they want to make sure the cost of that medical treatment is considered in the amount of the lump sum. It is also important to consider permanent partial disability benefits if there is a permanent impairment to an extremity, hearing or vision loss, or scarring.
The employer and their insurance company want to close workers’ compensation cases for the least amount of money possible. Most injured workers have never had to navigate the legal system before, and they may be at a serious disadvantage against experienced insurance adjusters. For this reason, many injured workers choose to rely on an experienced Chesterfield County attorney when attempting to negotiate a fair settlement.
A workers’ comp lawyer who is knowledgeable about workers’ compensation settlements in Chesterfield County could start by determining the appropriate value of the case. Without representation, many workers make the mistake of over or underestimating the value of their case. If they ask for too much, the insurance company may never respond to their demands. If they ask for too little, they might accept a settlement that does not take their needs into account. Retaining legal counsel is often the best way to maximize a settlement value and ensure all paperwork is completed quickly and thoroughly.
To find out how much your case is worth, contact a Chesterfield County law firm today and schedule a consultation.