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Generally, it should take a week or two to get the settlement agreement to your attorney from the other side. When everyone has signed, your settlement must be approved by a Workers' Compensation judge, which can take up to two weeks. Once it is approved, an insurance company has up to 30 days to mail your check.
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.
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.
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.
Most worker's compensation cases end in a settlement, meaning the insurance company offers either a lump sum of money or weekly payments for a specified period. The money may cover: Past and future medical care. Partial or total disability.
Assuming that the State Board approves your workers compensation settlement, it usually takes 30 to 60 days from when you reach a settlement agreement until the insurance company pays you the settlement money. It may not take that long, but it can also take longer.
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.
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.

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