A personal injury claim provides injured individuals the opportunity to pursue compensation for damages caused by another party. Some victims opt to initiate civil lawsuits, though quite a number of claims result in settlements.
As long as a lawsuit has not resulted in a final verdict, the parties involved have the option to settle. A settlement indicates that the victim agrees to no longer hold the other party liable for damages, meaning no further claims can be made in relation to the relevant circumstances. The other party generally agrees to pay a specific amount of money, or compensation, for the relinquishment of further responsibility to the victim with regard to the matter.
A settlement allows for some control over the resulting financial obligation. When left up to a jury to decide on the claim, the liable party could face much higher financial repercussions, particularly if punitive damages are considered applicable to the victim’s injuries. Liable parties who wish to avoid unwanted public attention due to the potential or pending claim could also avoid such negative backlash by settling out-of-court. The plaintiff is often required to agree to a confidentiality clause in these situations.
A plaintiff who has experienced emotional and physical damages may not be interested in risking a drawn-out trial, appeals, or an uncertain verdict. Before accepting the terms of an out-of-court settlement, though, a plaintiff should work with a personal injury lawyer who can uphold their rights and negotiate a fair settlement amount.