There are thousands of personal injury claims that are litigated and settled each year. These funds are relied on for many families as a way of providing for their family and regaining their financial security. While there are many payouts, not many have a clear understanding of where the funds come from. This is understandable as the focus is often ensuring that the numbers are correct, especially in cases where lump sum payments occur. However, there are occasions when questions arise regarding where money stems from. If you or your loved one have questions about a lawsuit payout and are unrepresented, contact Colombo Law today for a risk-free initial consultation.
Insurance Companies
In the vast majority of cases, an individual’s insurance company pays out the claim. Because of this, our attorneys often work with counsel for insurance companies in many personal injury cases. Common types of insurances obtained to protect individuals and companies in the event of an accident or incident includes:
- Car insurance
- Medical malpractice insurance
- Homeowners insurance
- Worker’s compensation insurance
The terms of an individual policy dictates critical aspects of your lawsuit payout. It determines the type of payout, the amount of payout, or whether a payout is possible at all.
Individuals
Sometimes, insurance companies refuse to payout a claim for a variety of reasons. This could include a breach in the conditions of a policy or because of some underlying issues, such as nonpayment on the policy. When this occurs, our attorneys will promptly begin determining other ways to help you obtain the compensation you deserve.
In some cases, the injured party will be able to bring a suit against the wrongdoer, or negligent party, for damages. This is only possible when it is determined that a defendant is not judgment proof. After reviewing a defendant’s assets, our attorneys will make a determination as to whether that defendant is financially solvent to pay out an award that is issued. While filing a suit against the injured party is more rare in personal injury cases, there are still many suits against individuals filed each year.
Contact Colombo Law: Your West Virginia Personal Injury Attorneys
The Colombo Law firm is located in Morgantown, West Virginia. Our attorneys are experienced personal injury lawyers who successfully handle hundreds of personal injury claims each year, obtaining justice and monetary relief for our clients. We keep our clients informed, letting them know what is involved and what to expect every step of the way.
