MARYLAND CAR ACCIDENT LAWYER The role of the insurance company. You’ve got to be kidding me.

A number of recent posts have dealt with the collective mentality of the insurance industry, well know to Maryland car accident lawyers. One example bears some attention. AIG is a major insurer that was ‘managed’ to the extent that it needed $170 billion dollars in taxpayer capital infusion just to keep from going under. “Too big to Fail”, AIG is now 80% government owned. When it got the bailout money, designed to keep it afloat, AIG earmarked 165 million to be paid, as bonus money, to the ‘managers’ that put the business in that position to begin with! 7 high ranking executives were to get more than 3 million in bonus money. [The New York Times, 3/14/09.] Many of my Maryland car accident lawyer colleagues wondered what kind of business rewards a performance like AIG’s with bonus money?

MARYLAND CAR ACCIDENT LAWYER The role of the insurance company. They don’t think the way you do.

I’ve devoted a lot of space here, and elsewhere, recently to the insurance industry as a whole, and about some specific property casualty insurance companies. One perspective, well known to any Maryland car accident lawyer who’s negotiated a claim with an insurance company, probably warrants  a little additional discussion. $100,000 would make a huge difference in the lives of most Americans. It doesn’t matter at all to a company that makes a billion dollars a year, and takes in 15 billion in revenue. The property casualty insurance industry is massively profitable on scales that most of simply can’t understand. Many Maryland car accident lawyers would offer you this illustrative example. Some adjusters are told to think about cases, or authorized to act in increments, e.g. $2500, that exceed the monthly takehome of many Americans.

MARYLAND CAR ACCIDENT LAWYER The role of the insurance company - "You're in Good Hands"

Allstate is one of the major auto accident insurance companies in the land. Maryland car accident lawyers are familiar with the methods that Allstate uses to value, and defend against claims. Like any other business, an insurance company's profitability is dependent on taking in more money than it pays out. For an auto accident insurance company, that means paying out less in claims than it takes in premiums. Maryland car accident lawyers know well that Allstate stockowners are indeed in good hands, as Allstate pays out a whole lot less in claims than it takes in premiums. You see, Allstate posted profits of 788 million dollars in 2011, and 928 million dollars in 2010.

WHAT IS THE VALUE OF MY BALTIMORE PERSONAL INJURY CASE? "Just tell me the formula!"

I've struggled to make clear in these posts what is well known to all seasoned Baltimore personal injury and accident lawyers - there is no formula to determine what your case is worth. There are hundreds of variables - each of which are explored in some detail in these volumes. In order to get an intelligent opinion, these factors  must be assessed and analyzed by an experienced Baltimore personal injury and accident lawyer who can then give you an opinion, based on his or her experience, as to the likely value of the case. If someone is telling you something different, they are giving you bad information my friend.

WHAT IS THE VALUE OF MY BALTIMORE PERSONAL INJURY CASE? Venue, revisited.

I discussed in another volume the role of "venue" [i.e. where the case is tried] in assessing the value of case. It's perhaps one of the more important variables. For example, seasoned Baltimore personal injury and accident lawyers that try their cases know that district court cases in Baltimore City are worth less than those in Baltimore County. For more serious cases that make it to circuit court, the reverse  is true. You'll see a lot of studies addressing the topic. The numbers are different in every sample, in part because different counties and different time frames are analyzed. One study highlighted a fact well known to Baltimore personal injury and accident lawyers- personal injury cases is Maryland are worth less than personal injury cases just about everywhere else. A lot less. Although plaintiffs tend to prevail more often in Maryland personal injury cases, their awards are, on average, only about 30% of the national averages.

HOW MUCH IS MY BALTIMORE PERSONAL INJURY CASE WORTH? I've had a subsequent injury?

As with prior injuries, [in the context of a Baltimore car and automobile accident, your "priors" are going to be the number of times you've claimed injury in other, previous Baltimore car and automobile accidents] having a subsequent injury, especially to the same body part, will have an impact on the value of your case. Any seasoned Baltimore personal injury and accident lawyer will tell you it would be foolish to assume otherwise. The essential problem is this: if an injury victim hurts their back, then three months later hurts their back again in another accident- how is one supposed to determine what any ongoing or future medical care is related to? How does one determine if current pain and suffering is related to the first accident or the second? How does a Baltimore personal injury and accident lawyer convincingly argue that a permanent impairment is related to the first accident but not the second? The reality is the unfortunate things do happen, and folks due get hurt, sometimes in temporal proximity. Experienced Baltimore personal injury and accident lawyers have dealt with this scenario, and know, strategically and tactically how to handle cases with two accidents.

WHAT IS THE VALUE OF MY PERSONAL INJURY CASE? The problem with "priors"

What are priors? A lot can depend on the context. If you are a criminal defendant about to be sentenced, the state is gong to tell the Judge about your "priors" [i.e. your record]. In the context of a Baltimore car and automobile accident, your "priors" are going to be the number of times you've claimed injury in other, previous Baltimore car and automobile accidents. Any Baltimore personal injury lawyers will tell you it matters. A lot. The adjuster is likely aware of prior accidents and will reduce any offer to you accordingly. A jury may hear about prior injuries to the same body part, and take that into account when fixing your recovery. Seasoned Baltimore personal injury lawyers that try their cases have likely had the gut wrenching experience of the "undisclosed" prior injury to the same body part being drawn out on cross examination, in the face of a prior denial of any prior injury. Experienced Baltimore personal injury lawyers will advise you talk about prior injuries when asked. It can only hurt you if you don't.