Question: Hi Joe. When people have a case or its determined that they have a case, how do insurance companies decide? Do they settle? Do they go to court? What the value of the potential settlement might be?
Question: Hi Joe. When people have a case or its determined that they have a case, how do insurance companies decide? Do they settle? Do they go to court? What the value of the potential settlement might be?
Joe: Well, I think in terms of anybody who has been injured and wants to have a resolution of it, they want to know that a client is going to be fairly and reasonably evaluated. Unfortunately that might now be the case. Insurance companies use Colossus or other computer programs to evaluate the value, so to speak, of the case. Unfortunately the computer program only does what it is told to do and its only evaluates the information that is put into the system. From my experience, these programs are aimed at saving the insurance companies money, paying as little as possible and evaluating the claims as low as possible. There was recently a story out about this. Well they are in the business of not paying claims. I tell my clients that they have to be patient and understand how the system works.
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