Considering what each side knows at the start of the negotiations, it seems rather strange that it can take so long for the disputing parties to reach an agreement.
What each side knows, and does not know:
The claimant knows what amount of money he or she would like to receive. The adjuster knows what amount of money the insurance company feels ready to pay that particular claimant. On the other hand, the claimant’s thinking has not progressed to the point where he or she had the ability to imagine acceptance of a compensation that is less that originally desired. By the same token, the adjuster has not contemplated the situation where the insurance company would pay more than the amount that it now has in mind.
Steps in negotiating process
• Claimant and personal injury lawyer in Lethbridge craft a demand letter; it contains the amount requested by the claimant/client.
• Adjuster lists the weaknesses in the client’s case. Client responds to adjuster’s allegations.
• Adjuster makes a counter-offer. It may be quite low, in an effort to see if the client might agree to an early settlement.
• Claimant’s demand gets lowered a bit. The adjuster and claimant continue their give and take.
Advice that can help a claimant to achieve success, when negotiating with an insurance adjuster:
Stay organized. Know what evidence has been collected, and how it might get used. Keep notes of any conversations with the adjuster.
Do not demonstrate feelings of impatience. Use your right to compose a letter or email to the adjuster. Write down any stated demand for information, if the adjuster has promised orally to provide such information.
Place a limit on the extent to which you will show patience. No smart claimant/negotiator feels that it is OK to let an adjuster sit on a plaintiff’s claim. The adjuster should feel subjected to a certain amount of pressure.
That pressure might take the form of a sternly worded letter. Claimants are encouraged to write such letters, if the adjuster has not come through with a given promise. A letter also serves an important function at the end of the negotiating phase.
If the adjuster has agreed orally to a figure suggested by the claimant, it becomes the claimant’s job to confirm the suggested agreement. A letter can be used to seek such confirmation. In addition to seeking that confirmation, the same letter ought to contain one further request. It should ask the adjuster to give the exact date when the promised compensation money should be delivered to the plaintiff’s legal team.
That legal team then takes its agreed-upon percentage from the client’s award. The remainder of the award gets sent to the waiting client/claimant. No money pays for debts.