A workers’ compensation settlement is the closing out of a workers’ compensation claim or claims arising out of an injury through a lump sum of cash. If you were injured at work, you might be entitled to workers’ compensation benefits. A dedicated workers’ compensation attorney could advocate for you and help you recover the benefits you deserve. Reach out to a seasoned lawyer who is experienced with Richmond workers’ compensation settlements.

What Parties are Involved in a Workers’ Comp Settlement?

The typical parties involved in a Richmond workers’ compensation settlement are the injured worker, their employer, the insurance company, and the employer. Usually, the injured worker and their attorney start the process by sending out a settlement demand, which is a number that they would like to receive as their settlement and the rationale for it. Then, the insurance company will respond with a counteroffer and their reasoning for that. The injured person’s lawyer will later try to negotiate towards a compromise.

Usually, it is a full and final settlement, which is closing out the entire claim for a lump sum of cash compensation. It can also be settled on the basis where if there are any outstanding medical bills, those bills are paid by the insurance carrier, and then there’s also a cash compensation component of it as well.

These settlements can be handled by negotiations between the parties and/or their lawyers, or it can be facilitated at a mediation where the parties get together with a neutral third-party mediator and negotiate a settlement.

Pros and Cons of a Settlement

An employee should consider entering into a workers’ compensation settlement on a case-by-case basis. It is usually in their best interest to be at maximum medical improvement or close to it. At the very least, their medical treatment should be stabilized before they enter into a settlement.

The benefits of a settlement are that the injured person is guaranteed compensation and do not have to deal with the nuances of a trial. However, a settlement offer may not be enough for the claimant, which is why they might want to take the case to court.

Contact a Richmond Lawyer About Workers’ Compensation Settlements

A person seeking workers’ compensation should contact a local attorney because the benefits program for Virginia workers’ comp is technical and nuanced. There are benefits that an employee would not necessarily know about, and it is not the job of the employer to educate the injured worker on the benefits that are available to them. Without an experienced attorney available to guide an injured worker through the process and advise them of the different types of benefits that are available, the injured worker is likely going to be missing out on many of the benefits that they would be able to receive without that kind of guidance.

Also, an injured worker really does need an advocate, even if they work for a company that they like to work for and treats them well. An injured worker really does need a lawyer to help them get everything that is available to them under the law and make sure their claim is being handled promptly and correctly.

Call today for more information about Richmond workers’ compensation settlements and how a lawyer could help.

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Commonwealth Law Group

If you have been injured at work or through the negligence of another individual or entity, contact us at Call (804) 999-9999 for a free initial consultation to discuss your case. We will fight to get you the justice you deserve.

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