The National Law Journal reports that a study of court settlements in personal injury lawsuits against businesses estimated companies could save an average total of $114,000 per claim and $670,000 for severe injuries by promptly settling cases instead of battling them in court.
The study (published this month in the Columbia Business Law Review) also projected $32,000 in savings from lower legal expenses, or about $211,000 for cases involving severe injuries.
The study based the projections on how much it would cost businesses to make “early offers” to pay out-of-pocket medical expenses and wage losses of injured claimants. The quick settlements would reduce legal fees and “pain and suffering” damages.
If you’re interested in trying to resolve your lawsuit early, please contact me to see how I can help all involved.