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Thread: Settlement

  1. #1
    Join Date
    Apr 2008

    Default Settlement

    Another IW received a settlement but only got partial upfront about 30,000 and receives a check every 2 weeks for about ten months for the remainder. Is this a standard practice or can you choose to get the whole balance when you settle your w/c case?

  2. #2
    Join Date
    Feb 2007

    Default Re: Settlement

    It would depend on the specifics of the claim...
    There are different ways to settle a WC claim, Stipulation w/Award...the PD indemnity pays out over time, medical remains open...there could be a lump sum involved...but a cash payment would be made in full in most cases.

    A C&R, the parties agree to the issues, and a amount of cash payment to cover all issues in the claim...IW releases the ER/IC from all liability forever to this injury.

    Why would you suppose a lump sum would be made, leaving only about 10 months of payments left...?
    Certainly not because the IC couldn't come up with all the money at once...(?)

    Not knowing the facts of the one could say for sure...

  3. #3
    Join Date
    Jun 2007

    Default Re: Settlement

    Settlements are largely dependent on what the parties agree to do. In most cases, the IC will simply want to be done with the case, and will offer to pay the whole settlement as a lump sum. In other cases, they may want to pay only the amount of the settlement that would have accrued from the date of last TTD until the time of settlement, with the remainder to be paid over time.

    Ultimately, it's really just a matter of what the parties agree to, though.


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