What amount of money has the claimant requested? Is that the amount of a fair settlement?
Based on past verdicts, what amount of money is a jury expected to award a plaintiff with a similar claim? Would that be the amount of a fair settlement?
Actually, neither of those would be fair to both sides of the dispute. Learn how a personal injury lawyer in Naperville would go about determining what amount of money his or her client ought to receive.
What are the chances that the case might go to trial?
Are there any liability issues? If not, then that would reduce the chances for the case going to trial. Did the victim of the accident sustain any severe or catastrophic injuries? If not, then that would be another reason why a particular client’s case would not be apt to go to trial.
What would be the expected damages award from a jury?
Juries give 2 awards. One is for the economic or special damages. That amount is easy to calculate. The other award is for the non-economic or general damages. Those relate to the victim’s pain and suffering. In addition, the general damages reflect the extent to which the accident-linked injury has disrupted the victim’s lifestyle.
What is the general attitude of juries in the district where the trial would be held?
In some areas, juries feel reluctant to grant a plaintiff in a personal injury case with a huge amount of money. In other areas, juries tend to be far more generous. Lawyers tend to gain a familiarity with a jury’s expected attitude in a given district. Judges, too, can have an attitude. Experienced lawyers have gained some insight into some of their attitudes.
How can all of the above information get used to calculate the amount of what appears to be a fair settlement?
Each of the factors mentioned above must be expressed as a number. The chances that a given case might go to trial should be a percentage. Lawyers often assume that there is a 50% chance for a given case to go to trial.
Next, the attorney would estimate the jury’s verdict. That verdict would be a number. The attorney would put that same number in the equation. In a typical case, an attorney would check to see the result for taking 50% of the estimated verdict. In other words, the lawyer’s calculation involves no more than a simple multiplication.
Lawyers use their calculated figure during the negotiations for a settlement. Each of the offers from the insurance company can be compared to the calculate figure, the estimate for a fair compensation. Claimants that have failed to hire a lawyer lack access to such information.