A settlement agreement is an agreement negotiated by the parties of a lawsuit, such as an injured construction worker and the general contractor, to resolve the case without a trial. A settlement agreement can involve each side compromising in good faith to reach an agreement that is acceptable to both parties. The injured worker might accept a lower settlement amount in order to be guaranteed that they receive the amount agreed to, while the general contractor might agree to pay more than what they initially offered.
The benefits of a settlement agreement are that they provide certainty and control. A guaranteed settlement amount reduces or eliminates litigation, which can be a costly and time-consuming process. Settlement agreements allow injured workers to have some leverage and control in negotiating more favorable lien reductions with lien holders. In a construction accident case, the worker’s insurance company, Medicare, or Medicaid has paid for their medical treatment, which allows the injured worker to maximize the full recovery that an injured worker might receive and to negotiate a reduction of the lien that they would have to reimburse the workers’ compensation insurance company for.
When is a Settlement More Cost-Effective than a Trial?
A settlement agreement might be more cost-effective than a trial in Boston if there are few disputes regarding the facts of the case and the legal duties of the insurance company and contractors. When the insurance company and their attorney present their final offer and the injured worker does not accept it, the case would go to trial, and the insurance company’s offer will then diminish, if not disappear entirely. The outcome of the case will then be determined by the court, and if the final judgment is deemed unfair or unreasonable by one party, it often cannot be undone. Cases with significant disputes might have to be tried if there is strong debate over the facts of the case, causation issues, the parties’ legal obligations, or whether or not negligence was involved.
How Often do Boston Construction Accident Cases Result in Settlement?
The majority of Boston premises liability construction accident cases result in settlement because attorneys work diligently from the outset to investigate the claim and ensure that there are sufficient facts and evidence to support the claim. Attorneys aim to gather evidence to rebut the defenses that might be presented so that they will be seen by the insurance company as able to prevail in a trial, giving the insurance company greater incentive to settle.
The best way for an attorney to settle a case is to show that they are prepared, they know the law, and they are willing and able to do what needs to be done to persuasively present the case at trial. Most cases involving serious damages and injuries that can be evidenced by medical records, reports, and diagnostic testing will settle before trial.
There may be some dispute regarding the various responsibilities of multiple insurance companies or contractors who might have played a role in creating a hazardous condition that caused the worker to be injured. Those parties might reach an agreement among themselves about how they will divide the legal responsibility their responsibility for paying a settlement, which can then be negotiated.
Overturning a Settlement
Settlements in Boston are not frequently overturned. However, it is possible that a settlement agreement could be overturned if it is learned that fraudulent representations of coverage were made during negotiations or if the insurance company claims that they inadvertently and mistakenly failed to disclose those limits.
Settlements might not be approved if there is a dispute among those involved in the case. If there is no unanimous agreement, the proposed settlement presented to the judge might not be approved. The judge might push the parties to develop a different breakdown of cost disbursement that they can both agree to
The benefit of having an experienced Boston attorney is that the attorney will know of possible obstacles and how to navigate them to ensure that the case settles and that the injured worker receives their construction accident settlement without undue delay.
Contact an Attorney Today
When filing a compensation claim following a construction accident, it is important to keep an open mind towards any settlement offers. Although it is easier to accept a settlement agreement instead of taking a claim to trial, victims should be hesitant to accept a settlement since some offers are not worth the total amount of compensation owed. To learn more about settlement agreements in Boston construction accident cases, be sure to schedule a consultation.