Articles Tagged with high low agreement

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The majority of Florida car accident claims are settled prior to a trial, and one form of settlement is called a “high-low agreement.” This is when the parties in the case agree that no matter what the outcome of a case, defendant will pay a minimum amount – but no more than an agreed-upon maximum amount. This takes some of the “all-or-nothing” guesswork out of the trial process, and ensures a plaintiff will receive some amount of compensation no matter what. car accident attorney Orlando

However, injury lawyers can explain it might still be risky, and it must be done with all parties – including insurers – being appropriately informed.

Although certain procedures and timelines can vary from state-to-state, the same basic principles of high-low agreements typically apply across the board. In a recent case out of New Jersey, a plaintiff who agreed to a high-low agreement ran into trouble by failing to inform his uninsured/ underinsured motorist coverage carrier of the arbitration, high-low agreement, completed jury trial or verdict. When it came time to collect, the UM/UIM insurer refused.  Continue reading →

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