Legal Question in Workers Comp in District of Columbia
settlement
I am in the process of negotiations for a settlement. The insurance company has agreed to settle, now we are just trying to agree on an amount. We do have a court date, but we are trying to settle before court. Once the insurance company makes an offer, we counter with a higher amount. right now they are up to 115,000. If we keep going higher, can they take back their last offer and decide not to settle?
2 Answers from Attorneys
Re: settlement
Counter offers generally result in revocation of the offer but there are methods to preserve the initial offer. Also understand that once the offer is terminated that none of the settlement negotiation is admissable for purposes of liability. I am a Maryland attorney and your question relates to law of another forum. You should contact an attorney for assistance.
Re: settlement
Although legally any offer can be withdrawn before it is accepted, practically speaking the insurance company is not likely to do this. Once you make a counter proposal, they will either accept it, reject it and say their offer is final, or make a further compromise offer somewhere between your number and theirs. Also, bear in mind that any settlement agreement must be approved by worker's compensation.
I hope you were wise enough to retain an experienced worker's compensation attorney to handle this matter for you, and if so he/she could have explained the process. If you didn't, you may well be settling for less than your case is worth. Insurance companies love dealing with unrepresented claimants because they know they can save themselves a lot of money.