The accident benefits claim process is complicated, generates a substantial amount of paperwork for the insurance provider, and for the legal representative of the claimant, and is very costly to administer. Although the Statutory Accident Benefits Schedule provides benefits that may last many years, it is often cost effective, or convenient for both sides to negotiate a lump sum settlement of the claim. Regulations prohibit such a lump sum negotiation until at least one year has passed since the date of the accident16. After one year has passed, your legal representative may enter into negotiations with the insurance representative administering your claim, and with your express permission, agree to a lump sum settlement based on your specific disability, injury, or impairment, and the likely future benefits that you will require to mitigate your damages. The amount of this lump sum settlement will vary depending on each specific fact scenario.
- INTRODUCTION
- MEDICATION REHABILITATION BENEFIT
- INCOME REPLACEMENT BENEFIT
- CAREGIVER BENEFIT
- ATTENDANT CARE BENEFIT
- HOUSEKEEPING AND HOME MAINTENANCE BENEFITS
- ADDITIONAL BENEFITS
- DISPUTED CLAIMS
- LUMP SUM SETTLEMENTS OF ACCIDENT BENEFITS CLAIMS
