An insurance company will rarely offer a fair first workers’ compensation settlement. After everything they have been through physically and financially, many injured workers accept this offer as they are desperate for a quick financial boost. However, when an employee receives a settlement offer from the workers’ comp insurance company, they have the option to negotiate the terms and the amount.
Generally, if the employee accepts the first settlement offer they receive, it’s much less than if they counter for a higher settlement amount. Even a single attempt at negotiating a higher settlement can make a huge difference. Negotiating can cause the insurance company to increase its payout amount significantly.
You deserve fair compensation for your workplace injury or illness-related medical expenses, lost income, and legal fees. Unfortunately, fair compensation isn’t typically the priority of the insurance company. Receiving what you should for your claim might require some negotiations, which are best handled by our Chicago workers’ compensation attorneys.