In personal injury mediation, the parties may be able to resolve the case, enter into a settlement agreement and avoid expensive and time-consuming litigation. Here are two strategies that can help the parties to negotiate a fair settlement. Negotiating a Fair Settlement In personal injury mediation, the parties may be able to resolve the case, enter into a settlement agreement and avoid expensive and time-consuming litigation. Here are two strategies that can help the parties to negotiate a fair settlement.
Make Initial Agreements on the Things Not in Dispute
There may be certain aspects of the claim that the parties agree on so for example, they may agree on:
- That the insured party is liable
- The extent that the victim was partially liable
- The amount of medical expenses already incurred
- The amount of lost employment wages
By starting on the areas that the parties agree on, this can create a foundation of trust and help create momentum toward an eventual settlement. The parties may then agree on the remaining issues to be discussed and the order that they should discuss to create a reasonable sequence for discussions that will be most likely to lead to an efficient resolution of the case.
Create a Settlement Range
Establishing a low and high amount for settlement can help ease the stress of both parties by establishing a floor for the accident victim and a ceiling for the insurance company. This strategy can propel the parties toward settlement because they know they will reach a settlement and just have to hammer out the details.
