Recently, I went to a mediation on a case that settled for 5x higher than offered by the insurance company before the filing of a lawsuit in Jacksonville. In January 2009, I submitted a demand to the insurance company and they only offered $10,000.00 to settle. The value of the case was clearly worth more than this amount. A lawsuit was filed and eventually went to mediation June 2010, and settled for the policy limits. It seems to me that insurance companies, as of late, are offering significantly less than the value of the case for two reasons.
One is to see if the injured person is in a difficult financial situation and would be willing to settle the case quickly for far less money. The second is due to the economy. The insurance companies have lost millions of dollars in investments over the last couple years, in Jacksonville and across the country. By stalling settlement of their cases, they hold onto their investments longer with the hope they will improve. Either way, the insurance company is not looking out for your best interest.
If you wish to discuss this further or need the assistance of an attorney to battle an insurance company, please contact me by email at warren@harrisguidi.com or at Jacksonville number 904-398-9002.