Parsing Settlement Mills from Real Wisconsin Personal Injury Lawyers
Your lawyer’s demonstrated willingness to go to trial affects how much money an insurance company will offer. From car accidents to medical malpractice to product liability, insurers have little incentive to offer more money to an accident victim with an attorney who shies away from the courtroom.
Why Fast-Settling Personal Injury Attorneys are Preferred By Insurance Companies
At its core, an insurance company runs off of probabilities. They pay actuaries substantial salaries to calculate the expected dollar value and likelihood of an accident, injury or illness occurring. To an insurance company, your life-changing car accident is a predictably frequent data-point. With millions of data-points to study, an actuary will calculate the expected payouts of a given policy with remarkable precision. These expenses are passed on to the policyholders, and the margin becomes insurance company profits.
An insurance company policy is like a casino slot machine. Each pull of the lever yields a predictable payoff. Some players will get more money than they put in--most won’t. As long as the lever is pulled enough times the house will profit enough to build a luxury hotel adorned with statues and riches.
Abandoning the metaphor, insurance companies pay money out of their best interest. Small, predictable settlements are more profitable than paying a legal defense team to fight the possibility of a multi-million dollar jury verdict. Accordingly, insurance companies PROFIT from a new legal-market trend toward the “settlement mill”.
Experienced Warshafsky personal injury lawyers help injured accident victims get the fair settlement they deserve. We fight for your best interests against big insurance companies including State Farm, GEICO, Allstate, American Family, Progressive, Acuity and West Bend.
Settlement Mill Law Firms Explained
Settlement mills are an increasingly prevalent type of personal injury law firm. These firms have low numbers of practicing attorneys in relation to the number of claims they handle. They achieve this feat by delegating substantial responsibility to less qualified personnel and avoiding the litigation wherever possible. A settlement mill, like an insurance company, thus profits by avoiding the possibility of a sustained court battle. If this has you rethinking your representation, you are not alone.
Real Milwaukee Personal Injury Attorneys
Every decision a top Milwaukee personal injury lawyer makes should be in the best interest of the CLIENT. To procure the most money for the injured, an accident attorney should have a proven history of preparing for full-scale litigation from the very first meeting. Extensive trial experience has two primary benefits: (1.) An experienced trial attorney garners larger settlement offers from insurance companies who understand personal injury law. (2.) The lawyer will be able to better evaluate the costs and benefits of accepting the offer.
INJURED? It IS About The Money.®