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Your lawyer drafts a demand letter (approved by you) to send to the insurance company. When the insurance company receives the letter, they will make a counteroffer, and negotiations will begin. You and your lawyer will negotiate back and forth with the insurance company.
Workers compensation settlements are usually calculated by taking your weekly wage loss benefit and multiplying that number by 52. This gives you an estimate of how much the insurance company will have to pay per year for wage loss benefits.
How Much Did Workers Receive as a Settlement or Award? The average compensation received by workers for their injuries was $21,800. At the extreme ends of the scale, 12% of workers received less than $2,000, while only 8% of workers received between $60,000 and $100,000.
Most state laws give the workers' compensation insurance carrier the right to be repaid from any settlement in a lawsuit for a construction site injury. The workers' compensation lien can often be negotiated and reduced, so that the entire amount of the workers' compensation benefit does not need to be repaid.
Employers pay premiums, and when there is a claim, the insurance company checks to see what benefits are owed, and then pays the injured party. You, as the injured worker, are the injured party receiving the workers' compensation benefits.
Typical Workers Comp Settlement Amounts According to an intensive study, the average settlement or award was $21,800. The majority of workers (68%) received between $2000 and $40,000. As you can see, there is a tremendous different between $2000 and $40,000.
Workers compensation settlements are usually calculated by taking your weekly wage loss benefit and multiplying that number by 52. This gives you an estimate of how much the insurance company will have to pay per year for wage loss benefits.
Types of Workers' Comp Settlements In most states, you can negotiate a settlement that will provide you with a lump-sum of money rather than continuing weekly permanent disability payments. You can also negotiate an agreement for a structured settlement that will provide you with payments over a period of time.
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